Nev. Rev. Stat. § 645F.820
Authority of Commissioner to impose additional conditions on covered institution or waive or temporarily suspend certain requirements
Nevada · Nevada Revised Statutes Chapter 645F — Mortgage Lending and Related Professions · Status: effective
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- Citation
- Nev. Rev. Stat. § 645F.820, Authority of Commissioner to impose additional conditions on covered institution or waive or temporarily suspend certain requirements, Nevada, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2141972
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Full text
1. If the Commissioner, after a formal review of a covered institution, determines that the risk to the covered institution is extremely high, the Commissioner may order or direct the covered institution to satisfy additional conditions necessary to ensure that the covered institution will continue to operate in a safe and sound manner and be able to continue to service loans in compliance with all federal and state laws and regulations.
2. If the Commissioner, after a formal review of a covered institution, determines that the risk to the covered institution is extremely low, the Commissioner may waive the application of any requirement set forth in NRS 645F.600 to 645F.820, inclusive, to the covered institution.
3. If the Commissioner determines that economic, environmental or societal events are of such severity to warrant a temporary suspension of any or all of the requirements set forth in NRS 645F.600 to 645F.820, inclusive, the Commissioner may temporarily suspend any or all of those requirements.