645E.360 - Annual financial statement; audit of trust accounts; regulations.
645E.360 Annual financial statement; audit of trust accounts; regulations.
1. Except as otherwise provided in this section, not later than 120 days after the last day of each fiscal year for a mortgage banker, the mortgage banker shall submit to the Commissioner a financial statement that:
(a) Is dated not earlier than the last day of the fiscal year; and
(b) Has been prepared from the books and records of the mortgage banker by an independent public accountant who holds a permit to engage in the practice of public accounting in this State that has not been revoked or suspended.
2. The Commissioner may grant a reasonable extension for the submission of a financial statement pursuant to this section if a mortgage banker requests such an extension before the date on which the financial statement is due.
3. If a mortgage banker maintains any accounts described in NRS 645E.430, the financial statement submitted pursuant to this section must be audited. The public accountant who prepares the report of an audit shall submit a copy of the report to the Commissioner at the same time that he or she submits the report to the mortgage banker.
4. The Commissioner shall adopt regulations prescribing the scope of an audit conducted pursuant to subsection 3.
(Added to NRS by 1999, 3753; A 2003, 3565; 2007, 963)