Nevada Revised Statutes 657A.340 – Period of testing
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Unless a timely request for an extension of the period of testing is made and approved pursuant to NRS 657A.350:
Terms Used In Nevada Revised Statutes 657A.340
- Contract: A legal written agreement that becomes binding when signed.
- 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
1. The period of testing for a financial product or service ends 2 years after the date of the notice given pursuant to NRS 657A.420.
2. Except as otherwise provided in this subsection, the participant shall, within 60 days after the end of the period of testing, wind down the test and cease offering or providing the product or service. If the product or service entails the performance of any ongoing duty or function, such as the servicing of a loan, the participant shall continue to perform or contract with another person for the continued performance of the duty or function.