Nevada Revised Statutes 657A.320 – Request for relief from certain limitations; approval, denial, rescission or modification of request
1. At any time during the period of testing a financial product or service, a participant may submit to the Director a written request for relief from the limitations of subsection 2 of NRS 657A.300 or subsection 1 of NRS 657A.310, or both, as they otherwise apply to the participant.
Terms Used In Nevada Revised Statutes 657A.320
- Oversight: Committee review of the activities of a Federal agency or program.
- Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
2. In accordance with any regulations adopted pursuant to NRS 657A.210, the Director may:
(a) Approve a request for relief if the Director determines that the participant has adequate capitalization and satisfactory procedures and processes in place for the oversight of its operations and the management of risk.
(b) Rescind or modify at any time his or her approval of a request for relief.
3. The approval, denial, rescission or modification of approval of a request for relief is final and not subject to administrative or judicial review.