Nevada Administrative Code

NAC 645.630 Prompt tender of offers. (NRS 645.050, 645.190) A licensee shall promptly deliver: 1. To the seller, every bona fide offer, complete with all terms and conditions of purchase, which he or she obtains. 2. To the purchaser and seller, copies of each acceptance of an off…

NAC 645.632 Notification of rejection of offer or counteroffer. (NRS 645.050, 645.190) 1. If a licensee represents a seller in a transaction, and if the seller does not accept an offer within a reasonable time after an offer has been presented to the seller, the licensee shall pr…

NAC 645.635 Disclosure of unmerchantable title. (NRS 645.050, 645.190, 645.252) A licensee may not attempt to sell, or offer to sell, any real property or any time share with knowledge that the title is unmerchantable unless the licensee notifies the prospective purchaser of that…

NAC 645.637 Disclosure of relationship as agent or status as principal. (NRS 645.050, 645.190, 645.252) In each real estate transaction involving a licensee, as agent or principal, the licensee shall clearly disclose, in writing, to his or her client and to any party not represen…

NAC 645.640 Disclosure of interest of licensee in certain transactions. (NRS 645.050, 645.190, 645.252) 1. A licensee shall not acquire, lease or dispose of any time share, real property or interest in any time share or real property for himself or herself, any member of his or h…

NAC 645.645 Inspections and audits by Division: Cooperation by broker; form for permission. (NRS 645.190, 645.195, 645.310, 645.313) A broker shall, upon demand, provide the Division with the documents and the permission necessary for the Division to complete fully an inspection …

NAC 645.650 Periods for maintenance of certain records by broker and for provision of certain paperwork to broker. (NRS 645.050, 645.190) 1. A broker shall keep complete real estate transaction and property management records for at least 5 years after the date of the closing or …

NAC 645.655 Records of transactions; trust accounts. (NRS 645.050, 645.190, 645.195, 645.310, 645.633) 1. Each real estate transaction of a brokerage must be numbered consecutively or indexed to permit audit by a representative of the Division. 2. A complete record of each real e…

NAC 645.657 Payment of deposits. (NRS 645.050, 645.190, 645.310) A licensee who receives a deposit on any transaction in which he or she is engaged on behalf of a broker or owner-developer shall pay over the deposit to that broker or owner-developer, or to the escrow business or …

NAC 645.660 Disclosure of certain interests required before deposit of money. (NRS 645.050, 645.190) A licensee shall not deposit money received by the licensee in any escrow business or company in which the licensee or anyone associated with him or her in the real estate or time…

NAC 645.665 Absence of broker from business for prolonged period. (NRS 645.050, 645.190) A broker shall not be absent from his or her business for 30 days or more if the broker is the only broker in his or her office unless the broker inactivates his or her license or otherwise n…

NAC 645.670 Conduct of inspections by Division. (NRS 645.050, 645.190, 645.195, 645.310) 1. The Division may use a form of its design to conduct any inspection and require the broker or office manager in charge of the office being inspected to sign such a form. 2. Such an inspect…

NAC 645.675 Agreements for advance fees. (NRS 645.050, 645.190, 645.324) 1. Each agreement for an advance fee used in Nevada must: (a) Be in writing; (b) Contain a definite and complete description of the services to be rendered; (c) Specify the total amount of the fee involved a…

NAC 645.678 Duties of broker operating agency which lists rentals for advance fee. (NRS 645.050, 645.190) A broker operating an agency which lists rentals for an advance fee shall: 1. Not publish, advertise or distribute information concerning a rental without first receiving app…

NAC 645.680 Form for complaints; investigations of licensees; action by Administrator on report of investigation. (NRS 645.050, 645.190) 1. The Division shall prepare and require a standard form or affidavit for use in making a citizen’s complaint. This form may require any infor…

NAC 645.690 Correction of certain deficiencies upon notice and request by Division. (NRS 645.050, 645.190) 1. The Division may grant a licensee up to 10 days to correct any deficiency involving advertising, business location, office operation or a broker’s sign. A notice of the d…

NAC 645.695 Administrative fines and other sanctions. (NRS 645.050, 645.190, 645.575, 645.630, 645.633, 645.635, 645.660) 1. The Administrator may require the payment of an administrative fine in an amount not to exceed the amount set forth in this subsection for each violation o…

NAC 645.700 Registration required. (NRS 645.190) An owner-developer must obtain a registration for each recorded subdivision which he or she intends to sell. [Real Estate Adv. Comm’n, § XVI subsec. 3 par. g, eff. 10-31-75]

NAC 645.710 Application for registration. (NRS 645.190, 645.285, 645.287) 1. An application for an original registration as an owner-developer must be completed by the owner-developer, unless the applicant is a partnership or corporation, and in that case the application must be …

NAC 645.730 Status of registration; required notices. (NRS 645.190) 1. The Division’s registration of a person as an owner-developer does not constitute a licensure. Such a registrant may not use the term “licensed” either in his or her advertising or oral presentations to prospe…

NAC 645.740 Expiration of registration. (NRS 645.190) 1. A registration for an owner-developer is effective for 1 year after the date of issuance. An owner-developer may renew his or her registration by paying the required fee and submitting the appropriate form to the Division. …

NAC 645.750 Limitations on licensees. (NRS 645.050, 645.190, 645.330) 1. A licensee associated with an owner-developer may only sell, lease, rent, or offer and negotiate to sell, lease or rent the registered development for an owner-developer, and may not engage in any other acti…

NAC 645.760 Records of sales; limitation on sales. (NRS 645.190, 645.195) 1. All records pertaining to the sale of any single-family residence in the subdivision of a registered owner-developer must be maintained at his or her principal place of business and be available for insp…

NAC 645.770 Disciplinary action; investigation of financial status. (NRS 645.190, 645.610, 645.630, 645.633) 1. The Commission may fine an owner-developer, revoke or suspend the registration of an owner-developer, or impose a fine and revoke or suspend the registration of an owne…

NAC 645.800 Permit to engage in property management: General requirements; fees; effective date. (NRS 645.190, 645.6052) 1. A person who wishes to obtain a permit to engage in property management must submit to the Division: (a) A completed application on a form prescribed by the…

NAC 645.8005 Permit to engage in property management: Additional requirements for person designated to apply on behalf of certain organizations. (NRS 645.190, 645.6052) In addition to the requirements set forth in NRS 645.6052 and the regulations adopted pursuant thereto, to obta…

NAC 645.802 Permit to engage in property management: Requirements and fee for renewal; effective date of renewal; date of expiration. (NRS 645.190, 645.6052) 1. The Division may renew a permit to engage in property management if the holder of the permit submits to the Division: (…

NAC 645.804 Approval of courses for educational requirements. (NRS 645.190, 645.6052) 1. For an applicant to receive credit for a course of instruction in property management that is designed to fulfill the educational requirements for the issuance of a permit which are described…

NAC 645.805 Termination of association of person designated to apply on behalf of certain organizations. (NRS 645.050, 645.190, 645.6054) 1. Except as otherwise provided in subsection 4, if a person to whom a permit is issued pursuant to NRS 645.6054 ceases to be connected or ass…

NAC 645.806 Trust accounts: Annual accounting required; declaration of exemption; maintenance of records; administrative fine for violation. (NRS 645.050, 645.190, 645.310) 1. A real estate broker who receives money, including, without limitation, rent, a security deposit, a down…

NAC 645.807 Trust accounts: Execution of checks by certain broker-salespersons. (NRS 645.050, 645.190) A real estate broker-salesperson who holds a permit to engage in property management may sign checks on a trust account without the signature of the real estate broker who emplo…

NAC 645.810 Procedure at hearing; receipt of evidence; date of decision. (NRS 645.190) 1. The presiding officer of a hearing shall: (a) Ascertain whether all persons commanded to appear under subpoena are present and whether all documents, books, records and other evidence under …

NAC 645.820 Procedures for rehearing. (NRS 645.190) The following procedures are used for a rehearing in a case where a ruling or decision of the Commission is against the licensee: 1. The licensee may within 10 days after his or her receipt of the decision petition the Commissio…

NAC 645.830 Procedures for obtaining and granting continuances. (NRS 645.190) The procedures for obtaining and granting continuances of Commission hearings are as follows: 1. The time of the hearing may be continued by the Commission upon the written petition of the licensee or u…

NAC 645.835 Amendment or withdrawal of complaint. (NRS 645.190) 1. A complaint may be amended at any time. 2. The Commission will grant a continuance if the amendment materially alters the complaint or a respondent demonstrates an inability to prepare for the case in a timely man…

NAC 645.840 Motions. (NRS 645.190) 1. All motions, unless made during a hearing, must be in writing. 2. A written motion must be served on the opposing party and the Commission at least 10 working days before the time set for the hearing on the motion. 3. An opposing party may fi…

NAC 645.845 Rules of evidence; informality of proceedings. (NRS 645.190) 1. In conducting any investigation, inquiry or hearing, the Commission, its officers and the employees of the Division are not bound by the technical rules of evidence, and any informality in a proceeding or…

NAC 645.850 Submission or exclusion of documentary evidence of respondent. (NRS 645.190) 1. Not less than 5 working days before a hearing before the Commission, the respondent must provide to the Division a copy of all documents that are reasonably available to the respondent whi…

NAC 645.855 Attendance of certain brokers required at disciplinary hearing. (NRS 645.190) If a person licensed as a real estate salesperson or real estate broker-salesperson is accused of violating any provision of this chapter or chapter 645 of NRS, the broker of record with who…

NAC 645.860 Failure of party to appear at hearing. (NRS 645.190) If a party fails to appear at a hearing scheduled by the Commission and a continuance has not been requested or granted, upon an offer of proof by the Division that the absent party was given proper notice and upon …

NAC 645.865 Voluntary surrender of license, permit, registration or certificate. (NRS 645.190) The Commission may accept the voluntary surrender of a license, permit, registration or certificate in lieu of imposing any other disciplinary action set forth in chapter 645 of NRS. (A…

NAC 645.870 Reporting of disciplinary action or denial of application. (NRS 645.190) The Commission may report any disciplinary action it takes against a licensee or any denial of an application for a license to: 1. Any national repository which records disciplinary actions taken…

NAC 645.875 Petitions for regulations. (NRS 645.190) 1. Any person may by petition, request the Commission to adopt, file, amend, or repeal any regulation. The petition must clearly identify in writing the change requested of the regulation and must contain all relevant data, vie…

NAC 645.901 Definitions. (NRS 645.190, 645.863) As used in NAC 645.901 to 645.919, inclusive, unless the context otherwise requires, the words and terms defined in NAC 645.903 to 645.909, inclusive, have the meanings ascribed to them in those sections. (Added to NAC by Real Estat…

NAC 645.903 “Applicant” defined. (NRS 645.190, 645.863) “Applicant” means a licensee who is applying for a permit. (Added to NAC by Real Estate Comm’n by R123-06, eff. 6-1-2006)

NAC 645.905 “Business broker” defined. (NRS 645.190, 645.863) “Business broker” has the meaning ascribed to it in NRS 645.0075. (Added to NAC by Real Estate Comm’n by R123-06, eff. 6-1-2006)

NAC 645.907 “License” defined. (NRS 645.190, 645.863) “License” means a license as a real estate broker, real estate broker-salesperson or real estate salesperson. (Added to NAC by Real Estate Comm’n by R123-06, eff. 6-1-2006)