NAC720.650. Designation.

     1. The Secretary of State may designate a repository as a recognized repository after he or she:

     (a) Receives:

          (1) An application for such a designation submitted by a licensee;

          (2) Such evidence as he or she deems sufficient to determine that the licensee and repository meet the requirements of this chapter; and

          (3) Except as otherwise provided in NAC 720.260, the amounts required pursuant to NAC 720.430 and 720.810; and

     (b) Determines, if the repository will publish certificates that are not issued by recognized certification authorities, that the certification authorities issuing those certificates conform to legally binding requirements that the Secretary of State determines to be substantially similar to or more stringent than the requirements of this chapter.

     2. The designation of a repository as a recognized repository is valid for 1 year unless the designation is revoked or otherwise terminated at an earlier date.

     3. The operator of a recognized repository may discontinue its designation as such by:

     (a) Filing a notice of discontinuance with the Secretary of State at least 30 days before the date of discontinuance; and

     (b) Complying with NAC 720.690.

     (Added to NAC by Sec’y of State by R155-98, eff. 12-2-99)