Nevada § 489.7235 Authority of Division to investigate and audit financial account related to business of dealer or distributor; regulations governing scope of audit

Nevada Statutes

§ 489.7235 — Authority of Division to investigate and audit financial account related to business of dealer or distributor; regulations governing scope of audit

Nevada § 489.7235

Title 43PUBLIC SAFETY; VEHICLES; WATERCRAFT

Ch. 489Manufactured

FINANCIAL AND FIDUCIARY DUTIES OF DEALER

This text of Nevada § 489.7235 (Authority of Division to investigate and audit financial account related to business of dealer or distributor; regulations governing scope of audit) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 489.7235 (2026).

Text

1. The Division may investigate and audit any financial account, including, without limitation, any trust account, related to the business of a dealer or distributor if:

(a)The Division has reasonable cause to believe that the dealer or distributor is using or has used the account to carry on the business of the dealer or distributor; and

(b)The Division:

(1)Has reasonable cause to believe or has received a credible complaint that the dealer or distributor is insolvent or is in a financial condition, or has engaged in a financial practice, which creates a substantial risk of insolvency; or

(2)Determines that the investigation and audit are reasonably necessary to assist the Division in administering or enforcing any provision of law. 2. The Administrator shall adopt regulations prescri

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1. The Division may investigate and audit any financial account, including, without limitation, any trust account, related to the business of a dealer or distributor if:
(a) The Division has reasonable cause to believe that the dealer or distributor is using or has used the account to carry on the business of the dealer or distributor; and
(b) The Division:
(1) Has reasonable cause to believe or has received a credible complaint that the dealer or distributor is insolvent or is in a financial condition, or has engaged in a financial practice, which creates a substantial risk of insolvency; or
(2) Determines that the investigation and audit are reasonably necessary to assist the Division in administering or enforcing any provision of law.
2. The Administrator shall adopt regulations prescribing the scope of an audit conducted pursuant to this section.
3. As used in this section, “insolvency” or “insolvent” means a condition under which a dealer or distributor is unable to meet the liabilities of his or her business as they become due in the regular course of business and which creates a substantial risk of harm to the public or a consumer.