Bill > SB76

This bill creates the Fund for the Compensation of Victims of Securities Fraud, which is designed to help victims who have been awarded restitution by a court but have not received full payment. The bill establishes a process where victims can apply for compensation from the Fund within 12 months of a court-ordered restitution, with the possibility of a time limit waiver for good cause. The Administrator of the Securities Division will review applications and can award up to $25,000 or 25% of the unpaid restitution, whichever is less. The bill requires the Division to adopt regulations establishing eligibility requirements, application procedures, and appeal processes. Additionally, the bill makes any information submitted in the application confidential and requires the Administrator to submit a biennial report to the Legislature detailing the Fund's activities. When an applicant receives compensation, the State is subrogated to their right to recover unpaid restitution, and if the applicant later recovers additional funds, they must reimburse the Fund. The bill also makes some technical changes to securities laws, such as modifying how certain securities exemptions are handled, and ensures that gifts, grants, donations, and interest earned will be deposited directly into the Fund.

Budget and Finance, Justice

Judiciary (S)

https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Bill/11883/Overview