1. The Board shall deposit in banks, credit unions, savings and loan associations and savings banks in the State of Nevada all money collected by it.
2. Except as otherwise provided in subsection 6, all money collected by the Board must be used to meet the expenses of conducting examinations, issuing licenses and conducting the office of the Board.
3. The expenses of the Board, including the per diem allowances and travel expenses of the members and employees of the Board while engaged in the business of the Board and the expenses of conducting examinations, must be paid from the current receipts. No portion thereof may be paid from the State Treasury.
4. Any balance remaining in excess of the expenses incurred may be retained by the Board and used in defraying the future expenses thereof.
5. The Board may delegate to a hearing officer or panel its authority to take any disciplinary action pursuant to this chapter, impose and collect fines and penalties therefor and deposit the money therefrom in banks, credit unions, savings and loan associations or savings banks in this State.
6. If a hearing officer or panel is not authorized to take disciplinary action pursuant to subsection 5 and the Board deposits the money collected from the imposition of fines with the State Treasurer for credit to the State General Fund, it may present a claim to the State Board of Examiners for recommendation to the Interim Finance Committee if money is needed to pay attorney’s fees or the costs of an investigation, or both.
7. The Board shall consider and take appropriate action concerning a written notification received by the Board pursuant to NRS 278.587 or 338.176.
[Part 3:198:1919; A 1937, 491; 1947, 797; 1949, 639; 1951, 459; 1955, 391] — (NRS A 1963, 147; 1965, 61; 1989, 1695; 1993, 884; 1997, 155, 1041; 1999, 1529)
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