Section 645F.470 - Required financial statements for separate trust accounts1. An independent licensee maintaining any account described in NAC 645F.465 shall, not later than 120 days after the end of the fiscal year for the independent licensee, provide to the Commissioner an annual financial statement of the account or accounts. A financial statement of the account or accounts required by this subsection must include, if applicable: (a) A statement of the asset balance and liabilities of each trust account;(b) A statement of all receipts for, disbursements from and changes in cash balances of each trust account;(c) A supplementary schedule of the liabilities of each trust account; and(d) A reconciliation of the cash balance of each trust account to the supplementary schedule of the liabilities of each trust account.2. The Commissioner will make available an approved format and sample content for the statements required by this section. An independent licensee shall submit the statements required by this section in substantially the same format as the approved forms.3. In addition to the annual financial statement of the account or accounts required by subsection 1, not later than 60 days after the last day of each fiscal year for an independent licensee, and every 6 months thereafter, the independent licensee shall submit to the Commissioner an unaudited financial statement of the account or accounts. The financial statement required by this subsection may be self-prepared.4. Except as otherwise provided in this subsection, the Commissioner may grant a reasonable extension, not to exceed 30 days, for the submission of a financial statement of the account or accounts pursuant to this section if an independent licensee requests such an extension, in writing, before the date on which the financial statement is due. Upon written request, the Commissioner may, for good cause, grant, in writing, an additional extension, not to exceed 30 days, of the period for the submission of a financial statement.Nev. Admin. Code § 645F.470
Added to NAC by Comm'r of Mortgage Lending by R052-09, eff. 8-25-2009