Nevada Revised Statutes 628B.700 – Authorized actions of Commissioner; grounds
1. The Commissioner may take administrative action against a licensee, including, without limitation, revoking or suspending the license, or initiate proceedings as provided in NRS 628B.940 if the private professional guardian company:
Terms Used In Nevada Revised Statutes 628B.700
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Oath: A promise to tell the truth.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
(a) Has violated this chapter or any other state or federal laws applicable to the business of a private professional guardian.
(b) Is conducting the business in an unauthorized or unsafe manner.
(c) Is in an unsafe or unsound condition to transact business.
(d) Has an impairment of the surety bonds held by the private professional guardian company.
(e) Has an impairment of the fidelity bonds held by the private professional guardian company.
(f) Has become insolvent.
(g) Has neglected or refused to comply with the terms of a lawful order of the Commissioner.
(h) Has refused, upon proper demand, to submit its records, affairs and concerns for inspection and examination by an appointed or authorized examiner of the Commissioner.
(i) Has refused to provide copies to the Division upon request, and in cooperation with any investigation, inspection or examination, of any and all documents reviewed by the Division during any such investigation, inspection or examination.
(j) Has failed to pay any state or local taxes as required.
(k) Has materially and willfully breached its fiduciary duties to a protected person.
(l) Has failed to properly disclose all fees, interest and other charges to the court and the public.
(m) Has willfully engaged in material conflicts of interest regarding a protected person.
(n) Has made intentional material misrepresentations regarding any aspect of the services performed or proposed to be performed by the private professional guardian company.
2. The Commissioner also may initiate such proceedings to take possession of the business and property of any private professional guardian company if an officer, partner, member or sole proprietor of the private professional guardian company refuses to be examined upon oath regarding its affairs.