Nevada Administrative Code

NAC 645D.480 Interior components. (NRS 645D.120) 1. A certified inspector shall inspect the interior components of the structure being inspected, including, but not limited to, the following components of the interior: (a) The walls, ceilings and floors; (b) The steps, stairways,…

NAC 645D.490 Built-in kitchen appliances. (NRS 645D.120) 1. A certified inspector shall inspect the built-in kitchen appliances of the structure being inspected, including, but not limited to, the following kitchen appliances if they are not shut off or otherwise inoperable: (a) …

NAC 645D.500 Insulation and ventilation systems. (NRS 645D.120) 1. A certified inspector shall inspect the insulation and ventilation systems of the structure being inspected, including, but not limited to, the following components of the insulation and ventilation systems: (a) T…

NAC 645D.510 Plumbing systems. (NRS 645D.120) 1. A certified inspector shall inspect the plumbing system of the structure being inspected, including, but not limited to, the following components of the plumbing system: (a) The hot and cold water systems; (b) The waste and drain s…

NAC 645D.520 Electrical systems. (NRS 645D.120) 1. A certified inspector shall inspect the electrical systems of the structure being inspected, including, but not limited to, the following components of the electrical system: (a) The switches, receptacles and fixtures; (b) The ma…

NAC 645D.530 Heating systems. (NRS 645D.120) 1. A certified inspector shall inspect the heating system of the structure being inspected, including, but not limited to, the following components of a heating system: (a) The heating equipment and heating distribution system; (b) The…

NAC 645D.540 Air-conditioning systems. (NRS 645D.120) 1. A certified inspector shall inspect the air-conditioning system of the structure being inspected, including, but not limited to, the following components of the air-conditioning system: (a) The cooling equipment and cooling…

NAC 645D.550 Exterior components. (NRS 645D.120) 1. A certified inspector shall inspect the exterior components of a structure being inspected, including, but not limited to: (a) The exterior wall components; (b) The exposed molding and trim; (c) The windows and exterior doors; a…

NAC 645D.560 Roofing components. (NRS 645D.120) 1. A certified inspector shall inspect the roofing components of the structure being inspected, including, but not limited to: (a) The roof covering; (b) The flashing; (c) The insulation; (d) The ventilation; (e) The soffits and fas…

NAC 645D.570 Structural systems. (NRS 645D.120) 1. A certified inspector shall inspect the structural system of the structure being inspected, including, but not limited to, the foundation, floors, walls, columns, ceilings and roof. 2. An inspection of the structural system must …

NAC 645D.580 Site of structure. (NRS 645D.120) 1. A certified inspector shall inspect the site of the structure while conducting an inspection of the structure, including, but not limited to: (a) The land grade and water drainage; (b) The retaining walls affecting the structure; …

NAC 645D.600 Determination of unprofessional conduct or professional incompetence. (NRS 645D.120, 645D.700) In determining whether a certified inspector is guilty of unprofessional conduct or professional incompetence, the Division will consider, among other things, whether the i…

NAC 645D.610 Disclosures required in advertisement. (NRS 645D.120) In any advertisement through which a certified inspector offers to perform services for which a certificate is required pursuant to this chapter, he shall disclose the name under which he does business and the typ…

NAC 645D.620 Maintenance of records; inspection and audit by Division. (NRS 645D.120) 1. A certified inspector shall keep at his place of business, or other location approved by the Division, a copy of the inspection report, work file and any other pertinent information relating …

NAC 645D.630 Examination of office; form. (NRS 645D.120) 1. The Division may use a form of its design to conduct any office examination and require the certified inspector or his office manager to sign such a form. 2. An examination must include, without limitation: (a) The addre…

NAC 645D.640 Cooperation in examination of office and audits. (NRS 645D.120) A certified inspector shall, upon demand, provide the Division with the documents and the permission necessary to complete fully an office examination and audit of his records. (Added to NAC by Real Esta…

NAC 645D.650 Citizen’s complaint; investigation. (NRS 645D.120) 1. The Division will prepare and require a standard form or affidavit for use in making a citizen’s complaint. This form may require any information the Division considers pertinent. 2. Except as otherwise provided i…

NAC 645D.660 Correction of deficiencies. (NRS 645D.120) 1. The Division may grant any certified inspector not more than 10 calendar days to correct any deficiency involving advertising, the location of his business or office operation. A notice of the deficiency and a request to …

NAC 645D.700 Procedure for hearing. (NRS 645D.120) 1. Upon the filing of a formal complaint by the Division, the Administrator shall set the matter for a hearing within 90 days before a hearing officer appointed by the Administrator from the staff of the Department of Business an…

NAC 645D.710 Notice of decision. (NRS 645D.120) 1. The Administrator or the hearing officer shall render a decision within 30 days after the date of the hearing and immediately give notice in writing of the decision to the respondent. 2. If the decision is adverse to the responde…

NAC 645D.720 Informal meeting. (NRS 645D.120) The Division will schedule an informal meeting rather than a formal hearing for matters that may be settled or otherwise do not require a formal hearing, in accordance with the following procedures: 1. The Division will initiate the p…

NAC 645D.730 Petition for reconsideration of action of Division. (NRS 645D.120) 1. Any person aggrieved by an action of the Division, except the revocation or suspension of a certificate issued pursuant to this chapter, may petition the Division for reconsideration of its action …

NAC 645E.010 Definitions. (NRS 645E.300) As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 645E.020 to 645E.100, inclusive, and NAC 645E.015 to 645E.035, inclusive, have the meanings ascribed to them in those sections. (Added to NA…

NAC 645E.015 “Affiliated business” defined. (NRS 645E.300) 1. “Affiliated business” means a business which a mortgage banker or any control person or employee of the mortgage banker: (a) Directly or indirectly owns or controls a controlling interest of the business; (b) Is a part…

NAC 645E.017 “Control person” defined. (NRS 645E.300) “Control person” means an executive officer, officer, general partner, partner, managing member, member, director, trustee or shareholder of a licensee or applicant. The term includes, without limitation, a chief executive off…

NAC 645E.025 “Nationwide Mortgage Licensing System and Registry” and “Registry” defined. (NRS 645E.300) “Nationwide Mortgage Licensing System and Registry” or “Registry” has the meaning ascribed to it in NRS 645B.0128. (Added to NAC by Comm’r of Mortgage Lending by R038-10, eff. …

NAC 645E.030 “Qualified employee” defined. (NRS 645E.300) “Qualified employee” means a natural person who is designated by a mortgage banker to act on behalf of the mortgage banker and who is approved by the Commissioner pursuant to NAC 645E.310. (Added to NAC by Comm’r of Financ…

NAC 645E.035 “S.A.F.E. Mortgage Licensing Act” defined. (NRS 645E.300) “S.A.F.E. Mortgage Licensing Act” means the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, Public Law 110-289, 122 Stat. 2654, Title V, July 30, 2008. (Added to NAC by Comm’r of Mortgage Lendi…

NAC 645E.045 “Insolvent” interpreted. (NRS 645E.300) For the purposes of paragraph (a) of subsection 2 of NRS 645E.670, “insolvent” is interpreted to mean that the liabilities of a mortgage banker exceed his or her assets, as calculated by the Commissioner in accordance with gene…

NAC 645E.090 Burden of demonstrating qualification for exemption from provisions of chapter 645E of NRS. (NRS 645E.300, 645F.292, 645F.293) A person who claims an exemption from the provisions of chapter 645E of NRS pursuant to NRS 645E.150 has the burden of demonstrating that th…

NAC 645E.100 Unexpired certificate of exemption. (NRS 645E.300) A person who has an unexpired certificate of exemption issued pursuant to chapter 645B of NRS shall be deemed to have an unexpired certificate of exemption issued pursuant to chapter 645E of NRS. (Added to NAC by Com…

NAC 645E.200 Qualifications of applicant: Required experience. (NRS 645E.200, 645E.300) 1. An applicant for a license as a mortgage banker must have, within the 5 years immediately preceding the date of his or her application, at least 2 years of verifiable experience in the busi…

NAC 645E.203 Qualifications of applicant: Compliance with federal and state law; licensure through Registry. (NRS 645E.300, 645F.292, 645F.293) 1. Each applicant for a license issued pursuant to chapter 645E of NRS: (a) Shall comply with any applicable federal or state law or reg…

NAC 645E.207 Qualifications of applicant: Requirements for licensure pursuant to NRS 645E.200. (NRS 645E.300) 1. Pursuant to subsection 3 of NRS 645E.200, the Commissioner will not issue a license as a mortgage banker unless the requirements of that subsection have been fulfilled…

NAC 645E.210 Documentation required with application for license; conditional approval; effect of failure to respond to written request for information in timely manner. (NRS 645E.200, 645E.300) 1. An applicant must submit with his or her application for a license pursuant to cha…

NAC 645E.220 Branch office: Prerequisites and name for issuance of license; display of license; responsibilities of mortgage banker; conditional approval; effect of failure to respond to written request for information in timely manner. (NRS 645E.200, 645E.300, 645F.292, 645F.293…

NAC 645E.225 Sharing office space with another business. (NRS 645E.300) 1. Except as otherwise provided in subsection 2, a mortgage banker may share office space with any other business if each business has a designated space within the office space and each business is separatel…

NAC 645E.235 Change of electronic mail address or contact information. (NRS 645E.300, 645F.292, 645F.293) If an applicant or a licensee wishes to change his or her electronic mail address or contact information, the person shall make the change and: 1. If the person is registered…

NAC 645E.240 Use of fictitious name. (NRS 645E.200, 645E.300) 1. A mortgage banker shall not conduct business using a fictitious name unless the mortgage banker: (a) Complies with the provisions of chapter 602 of NRS; (b) Files with the Division a certified copy, issued by the ap…

NAC 645E.250 Use of same name, confusingly similar name or name not approved by Commissioner. (NRS 645E.300) 1. The Commissioner will not issue a license or certificate of exemption with a name that is the same as or confusingly similar to a name on a license or certificate of ex…

NAC 645E.270 Activity not constituting services as mortgage banker. (NRS 645E.300, 645F.292, 645F.293) A person does not hold himself or herself out as being able to perform the services described in NRS 645E.100 if the person: 1. Is in compliance with the S.A.F.E. Mortgage Licen…

NAC 645E.280 Circumstances under which person is or is not considered to be making loan secured by lien on real property using his or her own money. (NRS 645E.100, 645E.300) 1. A person makes a loan secured by a lien on real property using his or her own money if the loan is fund…

NAC 645E.283 Professional conduct. (NRS 645E.300, 645F.255, 645F.520) 1. In addition to any other duty imposed by this chapter or chapter 645E of NRS or any other applicable law, a mortgage banker who acts as a mortgage servicer in connection with one or more mortgage loans which…

NAC 645E.285 Representation of activity as licensed; restrictions on advertising. (NRS 645E.300, 645F.292, 645F.293) 1. A mortgage banker shall not represent an activity which is not licensed pursuant to chapter 645E of NRS as being licensed pursuant to that chapter. 2. Except as…

NAC 645E.290 Disclosures to borrowers by certain persons acting in dual capacity. (NRS 645E.300) 1. A mortgage banker, loan officer or qualified employee who is also licensed as a real estate broker or real estate salesperson and who acts in both capacities in a single transactio…

NAC 645E.295 Insider loans: Limitations and conditions. (NRS 645E.300, 645E.350) 1. Insider loans made or arranged by a mortgage banker are subject to the following limitations and conditions: (a) The lending limit must not exceed 25 percent of the total dollar amount of the outs…

NAC 645E.310 Qualified employee: Designation and approval. (NRS 645E.300, 645F.292, 645F.293) 1. Every person, other than a natural person, doing business as a mortgage banker in this State shall designate a natural person as a qualified employee who may, upon approval by the Com…