The Administrator shall, within 45 days after receipt of an application for a permit to sell memberships:

1. 1. Issue the applicant a permit to sell memberships;
2. 2. Deny the application, and state the reasons for denial; or
3. 3. Inform the applicant of any deficiencies in the application which must be corrected before a permit is issued.

(Added to NRS by 1985, 1660)