Nevada Administrative Code (Last Updated: January 6, 2015)

NAC677.430. Review and chargeoffs.

Latest version.

1. Receivables must be reviewed at least once each month, and accounts subject to chargeoff must be charged to the allowance for credit losses not later than the 15th day of the succeeding month.

2. When a licensee is able to satisfy the Commissioner that facts exist concerning an account which justify a smaller chargeoff than is provided for in this chapter, the chargeoff may be reduced or eliminated as determined by the Commissioner.

[Dep’t of Commerce, Thrift Companies Reg. § 16 subsecs. 16.3 & 16.4, eff. 5-20-76; Renumbered as § 15 subsecs. 15.3 & 15.4, 12-14-78]—(NAC A by Admstr. of Financial Institutions, eff. 6-29-84)

                    
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