Deposit and use of money; delegation of authority concerning disciplinary action; deposit of fines; claim for attorney’s fees or costs of investigation.
1. Except as otherwise provided in subsection 3, all money received by the Board under the provisions of this chapter must be paid to the Executive Director of the Board, who shall deposit the money in banks, credit unions or savings and loan associations in the State of Nevada. The money may be drawn on by the Board for payment of all expenses incurred in the administration of the provisions of this chapter.
2. The Board may delegate to a hearing officer or panel its authority to take any disciplinary action pursuant to this chapter, impose and collect fines and penalties therefor and deposit the money therefrom in banks, credit unions or savings and loan associations in this State.
3. If a hearing officer or panel is not authorized to take disciplinary action pursuant to subsection 2 and the Board deposits the money collected from the imposition of fines with the State Treasurer for credit to the State General Fund, it may present a claim to the State Board of Examiners for recommendation to the Interim Finance Committee if money is needed to pay attorney’s fees or the costs of an investigation, or both.
Last modified: February 27, 2006