NRS 645B.085: Annual financial statement; audit of trust accounts; regulations.

1. Except as otherwise provided in this section, not later than 90 days after the last day of each fiscal year for a mortgage company, the mortgage company shall submit to the Commissioner a financial statement that:

(a) Is dated not earlier than the last day of the fiscal year; and

(b) Has been prepared from the books and records of the mortgage company by an independent certified public accountant who holds a license to practice in this State or in any other state that has not been revoked or suspended.

2. Unless otherwise prohibited by the Registry, the Commissioner may grant a reasonable extension for the submission of a financial statement pursuant to this section if a mortgage company requests such an extension before the date on which the financial statement is due.

3. If a mortgage company maintains any accounts described in subsection 1 of NRS 645B.175, the financial statement submitted pursuant to this section must be audited. If a mortgage company maintains any accounts described in subsection 1 or 4 of NRS 645B.175, those accounts must be audited.

4. The Commissioner shall adopt regulations prescribing the scope of an audit conducted pursuant to subsection 3.