Section 645F.455 - Results of examination: Preparation and review of draft report; final report; confidentiality; action by Commissioner1. Not more than 30 days after the completion of an examination of a licensee, the examiner that performed the examination shall prepare a draft report of the examination and provide the draft report to the Commissioner. The draft report must include only: (a) Facts that are contained in the files, books, records or other documents of the licensee that were examined by the examiner;(b) Facts that are contained in statements made by the licensee or officers or agents of the licensee, if any, or other persons that the examiner interviewed concerning the licensee; and(c) Conclusions and recommendations that are reasonably supported by the facts that are included in the draft report, including, but not limited to, the rating given to the licensee pursuant to NAC 645F.450.2. Not more than 15 days after the draft report of an examination is received by the Commissioner, the Commissioner will deliver to the licensee who was examined:(a) A copy of the draft report; and(b) Notice that the licensee has not more than 30 days, unless the Commissioner, for good cause, allows a longer period, to review the draft report and submit to the Commissioner, in writing, any comments regarding or objections to matters contained in the draft report.3. If a licensee received a rating of "3," "4" or "5" pursuant to NAC 645F.450 and submitted written comments or objections within the period specified in subsection 2, the Commissioner will: (a) Not more than 15 days after the last day on which the licensee could submit written comments or objections pursuant to subsection 2, hold an informal meeting with the licensee regarding the draft report; and(b) Review the draft report, together with the written submissions or objections made by the licensee and any relevant portions of the working papers of the examiner, and, not more than 15 days after the date on which the informal meeting was held pursuant to paragraph (a): (1) Adopt the draft report as filed;(2) Adopt the draft report with modifications;(3) Provide the licensee with an opportunity for a formal hearing; or(4) Direct the examiner to reopen the examination to obtain additional data, documents or information and, if necessary, file a new draft report pursuant to subsection 1. If the findings of the initial draft report are supported by the findings of the examiner after completion of the reopened examination, the licensee is responsible for the costs attributable to the reopened examination pursuant to NAC 645F.410.4. If a licensee: (a) Received a rating of "1" or "2" pursuant to NAC 645F.450 and submitted written comments or objections within the period specified in subsection 2; or(b) Did not file a written comment or objection to a draft report within the period specified in subsection 2, the draft report will be deemed to be the final report of the examination. 5. The rating of an examination is not open to public inspection until the review process pursuant to this section is completed, and no information other than the rating will be released except upon the express finding of the Commissioner that such release would not impede an investigation and or that the public will not be harmed by such a release.6. If the examination and report reveal that a licensee is operating in violation of the Nevada Covered Service Provider Regulations or chapter 645F of NRS or a previous order of the Commissioner, the Commissioner may order the licensee to take any action the Commissioner deems necessary or appropriate to correct the violation. The Commissioner may also take disciplinary action pursuant to NAC 645F.835.7. The Commissioner may, for good cause, extend any period specified in this section that is applicable to an examiner or the Commissioner for an additional period of not more than 15 days.Nev. Admin. Code § 645F.455
; A by R120-15, effective upon the later of 1/1/2016 or the date this regulation is filed with the Secretary of State.Added to NAC by Comm'r of Mortgage Lending by R052-09, eff. 8-25-2009