{"data":{"id":"us-nv/nrs-671.175","jurisdiction":"us-nv","citation":"NRS 671.175","heading":"Acquisition of control of licensee: Exceptions from requirements for approval.","body":"The requirements of NRS 671.155 do not apply to a person who has previously complied with and received approval to engage in money transmission pursuant to this chapter or was identified as a person in control of a licensee in a prior application filed with and approved by the Commissioner or by a money services business accredited state pursuant to a multistate licensing process, so long as:\n1. The person has not had a license revoked or suspended or controlled a licensee that has had a license revoked or suspended while the person was in control of the licensee in the 5 years immediately preceding the date on which the person intends to complete the acquisition of control of a licensee;\n2. If the person is a licensee, the person is well managed and has received at least a satisfactory rating for compliance in the most recent examination of the licensee conducted by a money services business accredited state, if such rating was given;\n3. The licensee to be acquired is projected to meet the requirements of this chapter after the acquisition of control is completed, and if the person acquiring control is a licensee, that licensee is also projected to meet the requirements of NRS 671.100 or 671.110, as applicable, and 671.115 and 671.125 after the acquisition of control is completed;\n4. The licensee to be acquired will not implement any material changes to its business plan as a result of the acquisition of control, and if the person acquiring control is a licensee, that licensee also will not implement any material changes to its business plan as a result of the acquisition of control; and\n5. The person provides notice of the acquisition in cooperation with the licensee and attests to the circumstances set forth in subsections 1 to 4, inclusive, in a form prescribed by the Commissioner.","path":["TITLE 55 — BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL INSTITUTIONS","CHAPTER 671 - MONEY TRANSMISSION","CHANGE OF CONTROL OR KEY INDIVIDUAL OF LICENSEE"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-671.html#NRS671Sec175","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:45Z","sha256":"503bce55de3e054d3fc57681cf653e4f2e46b37b1cd7b996e3136eafb360a251","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-671.170","next":"us-nv/nrs-671.180"},"notice":"GroundRules: Original legal text. Not legal advice."}