642.075 - Disposition of money collected by Board; delegation of authority to take disciplinary action; payment of attorney’s fees and costs of investigation.
642.075 Disposition of money collected by Board; delegation of authority to take disciplinary action; payment of attorney’s fees and costs of investigation.
1. Except as otherwise provided in subsection 4, all reasonable expenses incurred by the Board in carrying out the provisions of this chapter and chapters 451 and 452 of NRS must be paid from the money which it receives. No part of the salaries or expenses of the Board may be paid out of the State General Fund.
2. Except as otherwise provided in this section, all money collected by the Board from the imposition of fines must be deposited with the State Treasurer for credit to the State General Fund. All other money received by the Board must be deposited in qualified banks, credit unions or savings and loan associations in this State and paid out on its order for its expenses.
3. In a manner consistent with the provisions of chapter 622A of NRS, the Board may delegate to a hearing officer or panel its authority to take any disciplinary action pursuant to this chapter or chapter 451 and 452 of NRS, to impose and collect fines therefor and to deposit the money therefrom in banks, credit unions or savings and loan associations in this State.
4. If a hearing officer or panel is not authorized to take disciplinary action pursuant to subsection 3 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.
(Added to NRS by 1997, 2576; A 1999, 1537; 2003, 1268; 2005, 796)