Regulation Being Proposed For Adoption

About Regulations Being Proposed for Adoption

The Nevada Revised Statute (NRS) are the laws enacted by the Nevada Legislature. The Nevada Administrative Code (NAC) are regulations adopted by the Financial Institutions Division Commissioner. The provisions of the regulations expand on the statutes, and in some cases the legislature has required the Commissioner to adopt certain regulations in the formulation of their oversight responsibility.

Process for Adoption of a Regulation

The process of adopting a regulation requires the (a) soliciting comment from small businesses (defined as a business conducted for profit, which employs fewer than 150 full-time or part-time employees.) (b) posting of a notice regarding proposed regulations; (c) conducting of a public "workshop" to consider public input regarding the proposed regulation; and (d) conducting of a public "hearing" to consider public input regarding the proposed regulation. Upon completion of the public "hearing" the Commissioner may move to adopt the proposed regulations, with any appropriate amendments. The regulation becomes effective upon the filing of the adopted regulation with the Secretary of State's Office.

Regulation Workshop Posting Requirements 

The posting of the notice is given at least 15 days before the regulation "workshop" is mailed to all concerned licensees and known interested parties. The regulation "hearing" is conducted following the regulation "workshop."

Meeting Agendas / Minutes & Proposed Regulations