Title 54

NRS 645A.021 Application: Educational prerequisites; regulations. 1. In addition to any other requirement, an applicant for an original license as an escrow agent or agency must furnish proof satisfactory to the Commissioner of the successful completion of a course of instruction…

NRS 645A.025 Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Commissioner. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, su…

NRS 645A.032 Contents of license; escrow agent may associate with and be employed by only one escrow agency at same time. 1. The Division shall issue to each licensee a license which: (a) Shows the name and address of the licensee, and in the case of an escrow agent, the name of …

NRS 645A.034 Delivery and possession of license of escrow agent; display of licenses. 1. The license of each escrow agent must be delivered or mailed to the escrow agency with whom the licensee is associated and kept in the custody and control of the escrow agency. 2. The license…

NRS 645A.036 Place of business: Maintenance by escrow agency; specification in application; designation on license; effect. 1. Every escrow agency shall maintain a definite place of business, which must be a room or rooms used for the transaction of escrows, or such business and …

NRS 645A.038 License not transferable. A license issued pursuant to the provisions of this chapter does not give authority to perform any act specified in this chapter to any person other than the person to whom the license is issued, or from any place of business other than that…

NRS 645A.039 Continuing education: Standards; regulations. 1. The Commissioner shall adopt regulations that prescribe standards for the continuing education of persons licensed pursuant to this chapter. 2. The standards adopted pursuant to subsection 1 must: (a) Permit alternativ…

NRS 645A.040 Expiration; renewal; fees; deposit of money received. 1. Every license issued pursuant to the provisions of this chapter expires on July 1 of each year if it is not renewed. A license may be renewed by filing an application for renewal, paying the annual fee for the …

NRS 645A.0405 Authority of Commissioner to require submission of certain documents, fees and fines through Registry; deposit of fees, assessments and penalties. 1. The Commissioner may require that any application, fee, fine, form or filing required pursuant to this chapter be su…

NRS 645A.041 Duty of escrow agency to deposit surety bond with Commissioner; escrow agents must be named as principals on bond; form and amount of bond; exceptions. 1. Except as otherwise provided in NRS 645A.042, as a condition to doing business in this State, each escrow agency…

NRS 645A.042 Escrow agency may deposit substitute form of security in lieu of surety bond; amount deposited must equal amount of bond; interest or dividends accrue to depositor. 1. As a substitute for the surety bond required by NRS 645A.041, an escrow agency may, in accordance w…

NRS 645A.043 Cancellation of bond: Notices required; revocation of license unless equivalent bond or substitute form of security furnished. 1. The surety may cancel a bond upon giving 60 days’ notice to the Commissioner by certified mail. Upon receipt by the Commissioner of such …

NRS 645A.047 Action on bond: Procedure; limitation of time; duties of Commissioner; preliminary payment by surety; action for interpleader; payment. 1. Any person claiming against a bond may bring an action in a court of competent jurisdiction on the bond for damages to the exten…

NRS 645A.050 Duties of Commissioner. 1. Subject to the administrative control of the Director of the Department of Business and Industry, the Commissioner shall exercise general supervision and control over escrow agents and agencies doing business in the State of Nevada. 2. In a…

NRS 645A.060 Powers of Commissioner: Subpoenas, oaths and examination of witnesses; penalty. 1. In the conduct of any examination, investigation or hearing, the Commissioner may: (a) Compel the attendance of any person by subpoena. (b) Compel the production of any document by sub…

NRS 645A.065 Fees for supervision, investigation and examination of persons; standards for supervision of escrow agents; regulations. 1. The Commissioner shall establish by regulation the fees to be paid by all persons subject to the provisions of this chapter for the supervision…

NRS 645A.067 Payment of assessment and cooperation in audits and examinations. Each escrow agency shall pay the assessment levied by the Commissioner and cooperate fully with the audits and examinations performed pursuant to NRS 645F.180. (Added to NRS by 1993, 503; A 2003, 3542)

NRS 645A.070 Records of transactions in escrow: Maintenance; filing. 1. All escrow agents and agencies shall maintain, for a period of not less than 6 years, complete and suitable records of all escrow transactions made by them. A record of a transaction must be maintained in the…

NRS 645A.075 Duty to maintain information security program; requirements. 1. A licensee shall comply with the requirements set forth in 16 C.F.R. Part 314. 2. In addition to complying with the requirements set forth in 16 C.F.R. Part 314, a licensee shall: (a) Maintain the inform…

NRS 645A.080 Records of Commissioner: General provisions governing public inspection and confidentiality. Except as otherwise provided by law, all papers, documents, reports and other written instruments filed with the Commissioner pursuant to this chapter are open to public insp…

NRS 645A.082 Records of Commissioner: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records. 1. Except as otherwise provided in this section and NRS 239.0115, a complaint filed with the Co…

NRS 645A.085 Change in ownership of voting stock of escrow agency. 1. An escrow agency shall immediately notify the Commissioner of any change in the ownership of 5 percent or more of its outstanding voting stock. 2. An application must be submitted to the Commissioner, pursuant …

NRS 645A.086 Duty of Commissioner to take disciplinary action for certain violations. If a person offers or provides any of the services of an escrow agent or escrow agency or otherwise engages in, carries on or holds himself or herself out as engaging in or carrying on the busin…

NRS 645A.090 Grounds for refusal to issue license or for disciplinary action; orders imposing discipline deemed public records. 1. The Commissioner may refuse to license any escrow agent or agency or may suspend, revoke or place conditions upon any license or impose a fine on any…

NRS 645A.095 Suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license. [Effective until 2 years after the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for w…

NRS 645A.097 Investigation, disciplinary or other proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license. The expiration or revocation of a license of an escrow agent or agency by operation of law or by order or decision of the C…

NRS 645A.100 Notice of refusal to issue license or of disciplinary action; hearing; limitation on time to apply for hearing. 1. Notice of the entry of any order of suspension, revocation or placement of conditions upon a license or of imposing a fine or refusing a license to any …

NRS 645A.110 Investigation by Commissioner; powers of Commissioner; injunctive relief; enforcement of subpoenas. 1. The Commissioner may conduct an investigation if it appears that an escrow agent or agency is conducting business in an unsafe and injurious manner or in violation …

NRS 645A.130 Procedures following decision on appeal. 1. If the order of the Commissioner is reversed, the court shall specifically direct the Commissioner as to his or her further action in the matter including the making and entering of any order and any conditions, limitations…

NRS 645A.140 Powers of Commissioner when agency’s affairs in unsafe condition. 1. When the Commissioner ascertains that the assets or capital of any escrow agency are impaired or that an agency’s affairs are in an unsafe condition, the Commissioner may immediately take possession…

NRS 645A.150 Receivership. 1. The officers, directors, partners, associates or stockholders of the escrow agency may, within 60 days after the date the Commissioner takes possession of the property, business and assets, make good any deficit which may exist or remedy the unsafe c…

NRS 645A.160 Requirements. All money deposited in escrow to be delivered upon the close of the escrow or upon any other contingency must be kept separate from money belonging to the escrow agent or agency and must be deposited in a financial institution that is federally insured …

NRS 645A.170 Limitations on execution or attachment; commingling prohibited. 1. Money deposited in escrow is not subject to execution or attachment on any claim against the escrow agent or agency. 2. An escrow agent or agency shall not knowingly keep or cause to be kept any money…

NRS 645A.171 Limitations on disbursements. 1. An escrow agent shall not disburse money from an escrow account unless deposits which are at least equal in value to the proposed disbursements and which relate directly to the transaction for which the money is to be disbursed have b…

NRS 645A.173 Duty to record certain information concerning real estate brokers and salespersons and mortgage companies. 1. If an escrow for the sale of real property is established, the holder of the escrow shall, on the date of establishment of the escrow, record in writing the …

NRS 645A.175 Duty to execute documents necessary to release money deposited in escrow; exception for good faith disputes; recovery of damages for failure to execute; award of attorney’s fees. 1. Except as otherwise provided in subsection 2 or in the escrow agreement between the p…

NRS 645A.177 Action to recover money deposited in escrow; discharge from further responsibility for holder of escrow; right of holder to bring action for interpleader. 1. If an action is filed to recover money deposited in an escrow established for the sale of real property, the …

NRS 645A.193 Attorney General to represent Division. 1. The Attorney General shall act as the attorney for the Division in all actions and proceedings brought against or by the Division pursuant to any of the provisions of this chapter. 2. Notwithstanding the provision of paragra…

NRS 645A.195 Escrow agency that is not natural person to designate natural person as qualified employee. 1. If an escrow agency is not a natural person, the escrow agency must designate a natural person as a qualified employee to act on behalf of the escrow agency. 2. The Divisio…

NRS 645A.1955 Employment of or association with escrow agent: Duties of escrow agency; prohibited actions. 1. An escrow agent shall not act as or provide the services of an escrow agent on behalf of any escrow agency other than an escrow agency that has notified the Commissioner …

NRS 645A.196 Termination of employment of escrow agent: Duties of escrow agency; prohibited actions. 1. Whenever an escrow agent terminates, for any reason, his or her employment with the escrow agency with whom the escrow agent was associated, the escrow agency shall: (a) Immedi…

NRS 645A.199 Proof of licensure required in action for collection of compensation. No person engaged in the business or acting in the capacity of an escrow agent or agency within this state may bring or maintain any action in any court of this state for the collection of compensa…

NRS 645A.200 Statutory and common-law rights unaffected. The provisions of this chapter do not limit any statutory or common-law right of any person to bring an action in any court for any act involved in the transaction of the escrow business or the right of the State to punish …

NRS 645A.201 Exercise of jurisdiction over party to civil action; service of summons to confer jurisdiction. 1. A court of this State may exercise jurisdiction over a party to a civil action arising under the provisions of this chapter on any basis not inconsistent with the Const…

NRS 645A.215 Prohibition on administering escrows in same location as or in conjunction with other businesses; exceptions. 1. Except as otherwise provided in subsection 2, a licensee may not conduct the business of administering escrows for compensation within any office, suite, …

NRS 645A.220 Transactions by foreign corporations. It is unlawful for any foreign corporation to transact any escrow business in this state unless it: 1. Qualifies under chapter 80 of NRS; and 2. Complies with the provisions of this chapter unless exempted by NRS 645A.015. (Added…