Nevada Revised Statutes 42.350 – Suspension of registration as structured settlement purchase company; reinstatement of registration. [Effective until the date of the repeal of 42 U.S.C. ‘ 666, the federal law requiring each state to establish proce…
1. If the Unit receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is registered as a structured settlement purchase company, the Unit shall deem the registration issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Unit receives a letter issued to the holder of the registration by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the registration has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
Terms Used In Nevada Revised Statutes 42.350
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Subpoena: A command to a witness to appear and give testimony.
2. The Unit shall reinstate a registration that has been suspended by a district court pursuant to NRS 425.540 if the Unit receives a letter issued to the holder of the registration by the district attorney or other public agency pursuant to NRS 425.550 stating that the person whose registration was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.