Nevada Revised Statutes Section 645E.170 - Professions, Occupations and Businesses

Exemptions for certain loans; application; grounds for granting exemption; powers and duties of Commissioner.

1. A person may apply to the Commissioner for an exemption from the provisions of this chapter governing the making of a loan of money.

2. The Commissioner may grant the exemption if he finds that:

(a) The making of the loan would not be detrimental to the financial condition of the lender or the debtor;

(b) The lender or the debtor has established a record of sound performance, efficient management, financial responsibility and integrity;

(c) The making of the loan is likely to increase the availability of capital for a sector of the state economy; and

(d) The making of the loan is not detrimental to the public interest.

3. The Commissioner:

(a) May revoke an exemption unless the loan for which the exemption was granted has been made; and

(b) Shall issue a written statement setting forth the reasons for his decision to grant, deny or revoke an exemption.

Last modified: February 27, 2006