Senate Bill No. 7–Senator Wiener
CHAPTER..........
AN ACT relating to telegraphs; repealing certain obsolete provisions relating to telegraphs; and providing other matters properly relating thereto.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN
SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 1. NRS 119.182 is hereby amended to read as follows:
119.182 1. The information submitted pursuant to NRS
119.140 must be given to and reviewed with each purchaser by the
broker or salesman before the execution of any contract for the sale
of any such property. The broker shall obtain from the purchaser a
signed receipt for a copy of the information and, if a contract for
disposition is entered into, the receipt and a copy of all contracts and
agreements must be kept in the broker’s files within the State of
Nevada for 3 years or 1 year after final payment has been made on
any contract for the sale of property, whichever is longer, and is
subject to such inspection and audit as may be prescribed by
regulations of the Division.
2. The purchaser of any subdivision or any lot, parcel, unit or
interest in any subdivision, not exempted under the provisions of
NRS 119.120 or 119.122 may cancel, by written notice, the contract
of sale until midnight of the fifth calendar day following the date of
execution of the contract, and the contract must so provide. The
right of cancellation may not be waived. Any attempt by the
developer to obtain such a waiver results in a contract which is
voidable by the purchaser.
3. The notice of cancellation may be delivered personally to the
developer or sent by certified mail or [telegraph] telegram to the
business address of the developer.
4. The developer shall, within 15 days after receipt of the
notice of cancellation, return all payments made by the purchaser.
Sec. 2. NRS 119A.410 is hereby amended to read as follows:
119A.410 1. The purchaser of a time share may cancel, by
written notice, the contract of sale until midnight of the fifth
calendar day following the date of execution of the contract. The
contract of sale must include a statement of this right.
2. The right of cancellation may not be waived. Any attempt by
the developer to obtain a waiver results in a contract which is
voidable by the purchaser.
3. The notice of cancellation may be delivered personally to the
developer or sent by certified mail or [telegraph] telegram to
the business address of the developer.
4. The developer shall, within 15 days after receipt of the
notice of cancellation, return all payments made by the purchaser.
Sec. 3. NRS 171.148 is hereby amended to read as follows:
171.148 1. A warrant of arrest may be transmitted by
[telegraph. A telegraphic] telegram. A copy of [such] a warrant
transmitted by telegram may be sent to one or more peace officers,
and [such] the copy is as effectual in the hands of any officer, and
he must proceed in the same manner under it, as though he held an
original warrant issued by the magistrate before whom the original
complaint in the case was laid.
2. Every officer causing [telegraphic copies of warrants] a
warrant to be [sent] transmitted by telegram pursuant to
subsection 1 must certify as correct [and file in the telegraph office
from which such copies are sent] a copy of the warrant and
endorsement thereon, and must return the original with a statement
of his action thereunder.
3. As used in this section, [“telegraph”] “telegram” includes
every method of electric or electronic communication by which a
written as distinct from an oral message is transmitted.
Sec. 4. NRS 645A.100 is hereby amended to read as follows:
645A.100 1. Notice of the entry of any order of suspension or
revocation or of imposing a fine or refusing a license to any escrow
agent or agency must be given in writing, served personally or sent
by certified mail or by [telegraph] telegram to the last known
address of the agent or agency affected.
2. The agent or agency, upon application, is entitled to a
hearing . [but if no] If an application is not made within 20 days
after the entry of the order , the Commissioner shall enter a final
order.
Sec. 5. NRS 645B.750 is hereby amended to read as follows:
645B.750 1. If the Commissioner enters an order taking any
disciplinary action against a person or denying a person’s
application for a license, the Commissioner shall cause a written
notice of the order to be served personally or sent by certified mail
or [telegraph] telegram to the person.
2. Unless a hearing has already been conducted concerning the
matter, the person, upon application, is entitled to a hearing. If the
person does not make such an application within 20 days after
the date of the initial order, the Commissioner shall enter a final
order concerning the matter.
3. A person may appeal a final order of the Commissioner in
accordance with the provisions of chapter 233B of NRS that apply
to a contested case.
Sec. 6. NRS 645E.750 is hereby amended to read as follows:
645E.750 1. If the Commissioner enters an order taking any
disciplinary action against a person or denying a person’s
application for a license, the Commissioner shall cause a written
notice of the order to be served personally or sent by certified mail
or [telegraph] telegram to the person.
2. Unless a hearing has already been conducted concerning the
matter, the person, upon application, is entitled to a hearing. If the
person does not make such an application within 20 days after
the date of the initial order, the Commissioner shall enter a final
order concerning the matter.
3. A person may appeal a final order of the Commissioner in
accordance with the provisions of chapter 233B of NRS that apply
to a contested case.
Sec. 7. NRS 669.160 is hereby amended to read as follows:
669.160 1. Within 60 days after the application for a license
is filed, the Commissioner shall investigate the facts of the
application and the other requirements of this chapter to determine:
(a) That the persons who will serve as directors or officers of the
corporation, or the managers or members acting in a managerial
capacity of the limited-liability company, as applicable:
(1) Have a good reputation for honesty, trustworthiness and
integrity and display competence to transact the business of a trust
company in a manner which safeguards the interests of the general
public. The applicant must submit satisfactory proof of these
qualifications to the Commissioner.
(2) Have not been convicted of, or entered a plea of nolo
contendere to, a felony or any crime involving fraud,
misrepresentation or moral turpitude.
(3) Have not made a false statement of material fact on the
application.
(4) Have not had a license that was issued pursuant to the
provisions of this chapter suspended or revoked within the 10 years
immediately preceding the date of the application.
(5) Have not had a license as a trust company which was
issued in any other state, district or territory of the United States or
any foreign country suspended or revoked within the 10 years
immediately preceding the date of the application.
(6) Have not violated any of the provisions of this chapter or
any regulation adopted pursuant to the provisions of this chapter.
(b) That the financial status of the directors and officers of the
corporation or the managers or members acting in a managerial
capacity of the limited-liability company is consistent with their
responsibilities and duties.
(c) That the name of the proposed company is not deceptively
similar to the name of another trust company licensed in this state or
is not otherwise misleading.
(d) That the initial stockholders’ equity is not less than the
required minimum.
2. Notice of the entry of an order refusing a license to a trust
company must be given in writing, served personally or sent by
certified mail or by [telegraph] telegram to the company affected.
The company, upon application, is entitled to a hearing before a
hearing officer appointed by the Director of the Department of
Business and Industry, but if no such application is made within 30
days after the entry of an order refusing a license to any company,
the Commissioner shall enter a final order.
3. If the hearing officer affirms the order of the Commissioner
refusing the license, the applicant may file a petition for judicial
review pursuant to NRS 233B.130.
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