1. Except as provided in subsection 3, an officer or employee of the Division of Financial Institutions shall not:
(a) Be directly or indirectly interested in or act on behalf of any licensee;
(b) Receive, directly or indirectly, any payment from any licensee;
(c) Be indebted to any licensee;
(d) Engage in the negotiation of loans for others with any licensee; or
(e) Obtain credit or services from a licensee conditioned upon a fraudulent practice or undue or unfair preference over other customers.
2. An employee of the Division in the unclassified service of the State shall not obtain new extensions of credit from a licensee while in office.
3. Any officer or employee of the Division of Financial Institutions may be indebted to a licensee on the same terms as are available to the public generally upon a secured installment debt or an unsecured debt.
4. If an officer or employee of the Division of Financial Institutions has a service, a preferred consideration, an interest or a relationship prohibited by this section at the time of his or her appointment or employment, or obtains it during his or her employment, he or she shall terminate it within 120 days after the date of his or her appointment or employment or the discovery of the prohibited act.
(Added to NRS by 1983, 1805)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.