Examination by Commissioner; annual reports by corporations; costs of examination; authority of Commissioner.
1. The Commissioner shall examine the corporation as often as he deems necessary.
2. The corporation shall report upon its condition annually to the Commissioner:
(a) Within 60 days after the close of its fiscal year, unless the Commissioner determines that there is good cause to extend that period; and
(b) At any other time ordered by the Commissioner.
Ê The Commissioner may impose and collect a penalty of $5 for each day the annual report is overdue, up to a maximum of $500. The Commissioner shall furnish copies of these reports to the Commissioner of Insurance and the Governor. The corporation shall also furnish any other information required by the Commissioner or the Secretary of State.
3. The corporation shall pay a fee for conducting the examination and preparing the report of the examination at the rate established pursuant to NRS 658.101.
4. The Commissioner shall exercise the same supervisory authority over corporations organized under this chapter as he exercises over banks and trust companies chartered by the State.
Last modified: February 26, 2006