Title 54

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…

NRS 645A.221 Contracts for escrow transaction voidable for certain violations; administrative fines. If a person, or any general partner, director, officer, agent or employee of a person, violates the provisions of NRS 645A.015 or 645A.220: 1. Any contracts entered into by that p…

NRS 645A.222 Civil action authorized for certain violations. In addition to any other remedy or penalty, if a person violates the provisions of NRS 645A.015 or 645A.220, the respective parties to the escrow transaction may bring a civil action against the person for: 1. Actual an…

NRS 645A.224 Employee of Division prohibited from interest in escrow agency. A person shall not have a pecuniary interest in or act as an escrow agent for any escrow agency while he or she is an employee of the Division. (Added to NRS by 1985, 1807; A 1991, 1855)

NRS 645A.225 Charge for statement of interest payments prohibited. An escrow agent or agency shall not charge a fee for any statement or tax return regarding payment of interest which federal law requires the agent or agency to furnish and file. (Added to NRS by 1989, 1068)

NRS 645A.230 Penalties for violations. Any person who violates: 1. NRS 645A.015, 645A.160 or 645A.220 is guilty of a gross misdemeanor. 2. Any other provision of this chapter is guilty of a misdemeanor. (Added to NRS by 1973, 1313; A 1985, 1818; 2015, 2797)

NRS 645A.235 Restitution. 1. A person who engages in an activity for which a license as an escrow agent or escrow agency is required pursuant to this chapter, without regard to whether such a person is licensed pursuant to this chapter, may be required by the Commissioner to pay …

NRS 645B.010 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 645B.0102 to 645B.01356, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1973, 1536; A 1975, 961; 1977, 1635; 1981, 1785;…

NRS 645B.0102 “Applicant” defined. “Applicant” means a person who applies for licensure as a mortgage company pursuant to this chapter. (Added to NRS by 2017, 3035)

NRS 645B.0104 “Clerical or ministerial tasks” defined. “Clerical or ministerial tasks” means communication with a person to obtain, and the receipt, collection and distribution of, information necessary for the processing or underwriting of a mortgage loan. (Added to NRS by 2009,…

NRS 645B.01043 “Commercial mortgage loan” defined. “Commercial mortgage loan” means a loan primarily for a business, commercial or agricultural purpose that: 1. Directly or indirectly, is secured by a lien on commercial property; and 2. Is created with the consent of the owner of…

NRS 645B.01047 “Commercial property” defined. “Commercial property” means any real property which is located in this State and which is neither used as a dwelling nor upon which a dwelling is constructed or intended to be constructed. For the purposes of this section, “dwelling” …

NRS 645B.0105 “Commissioner” defined. “Commissioner” means the Commissioner of Mortgage Lending. (Added to NRS by 1999, 3765; A 2003, 3546)

NRS 645B.0107 “Construction control” defined. “Construction control” has the meaning ascribed to it in NRS 627.050. (Added to NRS by 1999, 3765)

NRS 645B.0109 “Depository financial institution” defined. “Depository financial institution” means a bank, savings and loan association, savings bank, thrift company or credit union. (Added to NRS by 1999, 3765)

NRS 645B.0111 “Division” defined. “Division” means the Division of Mortgage Lending of the Department of Business and Industry. (Added to NRS by 1999, 3765; A 2003, 3546)

NRS 645B.0112 “Dwelling” defined. “Dwelling” has the meaning ascribed to it in section 103(v) of the federal Truth in Lending Act, 15 U.S.C. § 1602(v). (Added to NRS by 2011, 3603)

NRS 645B.01125 “Employee” defined. “Employee” means a natural person: 1. Whose manner and means of performance of work are subject to the right of control of, or are controlled by, another person; and 2. Whose compensation for federal income tax purposes is reported, or required …

NRS 645B.0113 “Escrow agency” defined. “Escrow agency” has the meaning ascribed to it in NRS 645A.010. (Added to NRS by 1999, 3765)

NRS 645B.0115 “Escrow agent” defined. “Escrow agent” has the meaning ascribed to it in NRS 645A.010. (Added to NRS by 1999, 3765)