SB 44
Revises provisions relating to financial services. (BDR 54-258)
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill updates Nevada’s regulations for financial services to align with federal standards. It requires certain financial service providers, such as mortgage companies and escrow agents, to comply with federal information security rules and maintain a comprehensive information security program. Additionally, the bill establishes standards for the financial condition and corporate governance of mortgage servicers, requiring them to maintain sufficient liquidity and establish a board of directors. The Commissioner of Financial Institutions and Mortgage Lending will be responsible for adopting regulations to implement these requirements and overseeing compliance.
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Primary sponsor
Senate Committee on Commerce and Labor
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