Nev. Admin. Code § 645B.066

Current through December 12, 2024

Section 645B.066 - Authority of examiner, auditor or investigator

For the purposes of conducting an examination, investigation or periodic or special audit of a mortgage company pursuant to this chapter or chapter 645B of NRS:

1. The Commissioner or his or her designee may:

(a) Require the mortgage company to produce, for the purposes of the examination, audit or investigation, all documents:

(1) Relating to business conducted by the mortgage company pursuant to this chapter or chapter 645B of NRS;

(2) Required to be kept by the mortgage company pursuant to any federal or state law or regulation; or

(3) Related to the operation of the business of the mortgage company or any affiliated business that conducts business activities which are directly related to the business of the mortgage company; and

(b) Inspect and copy any documents which are in the possession, control or custody of the mortgage company and which are related to business conducted pursuant to this chapter or chapter 645B of NRS.

2. The Commissioner may:

(a) Employ or retain attorneys, accountants or other professionals and specialists as examiners, auditors or investigators to conduct or assist in the conduct of examinations, audits and investigations;

(b) Enter into agreements or relationships with other governmental officials and regulatory associations to improve efficiency and reduce regulatory burden by sharing resources, standardized or uniform methods or procedures and documents, records, information or evidence obtained pursuant to this chapter or chapter 645B of NRS;

(c) Use, hire, contract with or employ analytical systems, methods or software, whether publicly or privately available, to examine or investigate the mortgage company or other person subject to chapter 645B of NRS;

(d) Accept and rely upon reports of examinations or investigations made by other state or federal governmental officials; and

(e) Accept an audit report prepared by an independent certified public accountant for the mortgage company or other person subject to chapter 645B of NRS in the course of an examination or investigation covering the same general subject matter as the audit. The Commissioner will incorporate such an audit report in the report of examination, report of investigation or other writing of the Commissioner.

Nev. Admin. Code § 645B.066

Added to NAC by Comm'r of Mortgage Lending by R087-04, eff. 8-31-2004; A by R125-16A, eff. 1/27/2017; A by R119-19A, eff. 11/9/2023

NRS 645B.060