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Can you summarize NVAC 671?
Nevada Administrative Code > Issuers of Instruments for Transmission or Payment of Money
Short Summary
This legal document, governed by the Nevada Administrative Code, pertains to the fee for supervision and related activities for licensees under the Issuers of Instruments for Transmission or Payment of Money. The Commissioner charges and collects a fee of $75 per hour from each licensee for any supervision, examination, audit, investigation, or hearing conducted under chapter 671 of NRS. The Commissioner will bill each licensee upon the completion of the activity, and the fee must be paid within 30 days. Late payments will incur a penalty of 10 percent of the fee plus an additional 1 percent for each month or portion of a month that the fee remains unpaid. The Commissioner may waive the penalty for good cause. Failure to pay the fee as required constitutes grounds for revocation of the licensee’s license.
Whom does it apply to?
Licensees of instruments for transmission or payment of money
What does it govern?
Fee for supervision and related activities for licensees under the Issuers of Instruments for Transmission or Payment of Money
What are exemptions?
No exemptions are mentioned in this document.
What are the Penalties?
Failure to pay the fee as required constitutes grounds for revocation of the licensee's license.
Jurisdiction
Nevada