Nevada Revised Statutes 657.130 – Committees to review compliance: Definitions; confidentiality and privilege
1. As used in this section, unless the context otherwise requires:
Terms Used In Nevada Revised Statutes 657.130
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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
- Testify: Answer questions in court.
(a) ’Committee to review compliance’ means one or more persons assigned or engaged by a financial institution to test, review or evaluate its conduct, transactions or potential transactions, policies or procedures for the purpose of monitoring and improving or enforcing compliance with state and federal statutes and regulations requiring safe, sound and fair lending practices, including, without limitation, acts concerning equal credit opportunity, fair housing, fair lending, flood zone protection, housing and financial discrimination, truth in lending and financial reporting to federal or state regulatory agencies.
(b) ’Financial institution’ means an institution licensed pursuant to the provisions of this title or chapter 645B of NRS, or a similar institution chartered or licensed pursuant to federal law. The term includes, without limitation, a holding company, affiliate or subsidiary of such an institution.
2. Except as otherwise voluntarily authorized by the financial institution:
(a) A document prepared for or created by a committee to review compliance is confidential and privileged, and is not subject to discovery or admissible in evidence in a civil action of this State, even if it has been submitted to a governmental or regulatory agency of this State, the United States or a foreign government.
(b) A member of a committee to review compliance or a person who acted under the direction of the committee cannot be required to testify in a civil action concerning the contents of a document described in paragraph (a) or concerning the discussions or conclusions of, or the actions taken by, the committee.