§ 645G.540 — Revocation, suspension or denial of renewal of license: Answer; limitations on time of commencing proceeding

Nevada § 645G.540

• Jurisdiction: Nevada
• Title 54: PROFESSIONS, OCCUPATIONS AND BUSINESSES
• Ch. 645G: Exchange

Text

1. The licensee shall file an answer to the charges with the Commissioner not later than 30 days after service of the notice and other documents described in subsection 4 of NRS 645G.535 . The answer must contain an admission or denial of the allegations contained in the complaint and any defenses upon which the licensee will rely. If no answer is filed within the time limit described in this subsection, the Division may, after notice to the licensee served in the manner authorized in subsection 5 of NRS 645G.535 , move for the entry of a default against the licensee.
2. The answer may be served by delivery to the Division, or by mailing the answer by certified mail to the principal office of the Division.
3. No proceeding to suspend, revoke or deny the renewal of any license may be maintained unless it is commenced by the giving of notice to the licensee within 3 years of the time of the act charged, whether of commission or omission, except:
(a) If the charges are based upon a misrepresentation or failure to disclose, the period does not commence until the discovery of facts which do or should lead to the discovery of the misrepresentation or failure to disclose; and
(b) Whenever any action or proceeding is instituted to which the Division or the licensee is a party and which involves the conduct of the licensee in the transaction with which the charges are related, the running of the 3-year period with respect to the institution of a proceeding pursuant to this chapter to suspend, revoke or deny the renewal of the license is suspended during the pendency of the action or proceeding.

Legislative History

(Added to NRS by 2007, 3110 )