1.  The Commissioner may issue an order requiring a licensee or authorized delegate to cease and desist from a violation of any provision of this chapter or any regulations adopted pursuant thereto or order issued by the Commissioner pursuant thereto if the Commissioner determines that the violation is likely to cause:

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(a) Immediate and irreparable harm to the licensee, the customers of the licensee or the public; or

(b) Insolvency or significant dissipation of the assets of the licensee.

2.  If the Commissioner issues an order against an authorized delegate pursuant to subsection 1, the Commissioner may also issue a separate order against a licensee to cease and desist from providing money transmission through the authorized delegate.

3.  Except as otherwise provided in this subsection, an order issued pursuant to this section becomes effective upon service of the order and remains effective until it is set aside, in whole or in part, by the Commissioner or a reviewing court. The licensee or authorized delegate against whom a cease and desist order is issued may request a hearing on the cease and desist order pursuant to NRS 233B.121 to 233B.150, inclusive.

4.  A licensee or authorized delegate against whom a cease and desist order is issued pursuant to this section may file with the Commissioner a petition requesting that the cease and desist order be set aside, limited or suspended pending the completion of the proceedings conducted pursuant to subsection 3.