Title 54

NRS 645G.260 Submission and processing of fingerprints. 1. The Commissioner may require an applicant for a license or a licensee to submit a complete set of fingerprints when the Commissioner determines necessary. 2. The Commissioner may use the services of the Registry to proces…

NRS 645G.270 Commissioner required to report certain information or material; confidentiality of information or material provided; Commissioner authorized to enter into certain agreements and arrangements. 1. Subject to any limitations or restrictions contained in federal or stat…

NRS 645G.280 Additional materials required to be submitted. 1. In addition to any other requirements set forth in this chapter, each applicant for the issuance of a license pursuant to this chapter and each owner, officer, director and responsible person of the applicant, each pe…

NRS 645G.290 Licensee required to register and maintain unique identifier; Commissioner authorized to issue license through Registry; references to Commissioner deemed references to Registry. 1. Each licensee shall register with and maintain a valid unique identifier with the Reg…

NRS 645G.300 Client’s money and property: Fiduciary duty of licensee. 1. Each licensee is a fiduciary of all money, property, other considerations and instruments received by the licensee from the client. 2. Each licensee shall invest money related to a tax-deferred exchange of p…

NRS 645G.310 Money held for client: Written approval required for withdrawal. Money held in any account for a client may not be withdrawn from the account without the written approval of the licensee and the client. (Added to NRS by 2007, 3107)

NRS 645G.320 Fidelity bond or deposit. 1. Except as otherwise provided in subsection 2, an exchange facilitator shall maintain one or more fidelity bonds in a total amount of not less than $1,000,000 executed by an insurer authorized to do business in this State and approved by t…

NRS 645G.330 Insurance: Maintenance of policy; other security; proof of coverage; claims; duty of Division. 1. Except as otherwise provided in subsection 2, a licensee shall maintain a policy of insurance covering liability for errors and omissions in an amount not less than $250…

NRS 645G.340 Written notice of cancellation or withdrawal of bond, insurance or other security; suspension of license. A licensee shall provide written notice to the Division at least 30 days before the cancellation or withdrawal of any bond, policy of insurance or security requi…

NRS 645G.350 Exchange funds required to be kept separate. All exchange funds must be kept separate from money belonging to the licensee and must be deposited in a financial institution that is federally insured or insured by a private insurer approved pursuant to NRS 672.755 unle…

NRS 645G.360 Exchange funds not subject to execution or attachment; commingling prohibited. 1. Exchange funds are not subject to execution or attachment on any claim against the licensee. 2. A licensee shall not knowingly keep or cause to be kept any money in any bank, credit uni…

NRS 645G.400 Deposit of money received by Commissioner. Except as otherwise provided in NRS 645G.220 and 645G.410, all money received by the Commissioner pursuant to this chapter must be deposited in the State Treasury pursuant to the provisions of NRS 658.091. (Added to NRS by 2…

NRS 645G.410 Deposit and use of money received by Division from civil penalty. The Division shall deposit any money it receives from a civil penalty imposed pursuant to NRS 205.960 and 645G.900 with the State Treasurer for credit to a separate account in the State General Fund. T…

NRS 645G.500 Investigation of actions of exchange facilitators and other persons. The Commissioner or the Division may investigate the actions of any exchange facilitator or any person who acts in any such capacity within this State. (Added to NRS by 2007, 3108)

NRS 645G.505 Division required to maintain records of complaints, investigations and denials of applications. The Division shall maintain a public docket or other record in which it shall record from time to time as made: 1. The rulings or decisions upon all complaints filed with…

NRS 645G.510 Confidentiality of certain records of Division; exception. 1. Except as otherwise provided in this section and NRS 239.0115, a complaint filed with the Division alleging a violation of this chapter, all documents and other information filed with the complaint and all…

NRS 645G.515 Authorized disciplinary action; grounds; orders imposing discipline deemed public records; payment of costs incurred by Division. 1. The Commissioner may require a licensee to pay an administrative fine of not more than $200 per day for each violation the licensee co…

NRS 645G.520 Limitations on suspension and reissuance of license after revocation. 1. The Division shall not suspend the license of a licensee pursuant to NRS 645G.515 for more than 2 years. 2. After the revocation of any license by the Commissioner as provided in this chapter, n…

NRS 645G.525 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 645G.530 Investigations, disciplinary or other proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license. The expiration or revocation of a license by operation of law or by order or decision of the Division or a court of compet…

NRS 645G.535 Revocation, suspension or denial of renewal of license: Complaint; notice of hearing. 1. The procedure set forth in this section and NRS 645G.540 must be followed before the Division revokes, suspends or denies the renewal of any license issued pursuant to this chapt…

NRS 645G.540 Revocation, suspension or denial of renewal of license: Answer; limitations on time of commencing proceeding. 1. The licensee shall file an answer to the charges with the Commissioner not later than 30 days after service of the notice and other documents described in…

NRS 645G.545 Revocation, suspension or denial of renewal of license: Hearing; transcript. The hearing on the charges must be held at such time and place as the Commissioner prescribes. At the hearing, a stenographic transcript of the proceedings must be made if requested or requi…

NRS 645G.550 Power of Commissioner to administer oaths, certify acts and issue subpoenas; service of process. 1. The Commissioner shall have the power to administer oaths, certify to all official acts, and issue subpoenas for attendance of witnesses and the production of books an…

NRS 645G.555 Fees and mileage for witness. 1. Each witness who appears by order of the Commissioner is entitled to receive for his or her attendance the same fees and mileage allowed by law to a witness in civil cases, which amount must be paid by the party at whose request the w…

NRS 645G.560 Enforcement of subpoenas. 1. The district court in and for the county in which any hearing may be held shall have the power to compel the attendance of witnesses, the giving of testimony and the production of books and papers as required by any subpoena issued by the…

NRS 645G.565 Depositions; taking of evidence in another state; rights of party to hearing to request subpoenas. 1. The Commissioner may, in any hearing before the Commissioner, cause the depositions of witnesses residing within or without the State to be taken in the manner presc…

NRS 645G.570 Decision of Commissioner on complaint: Rendition; notice; effective date; stay of decision. 1. The Commissioner shall render an informal decision on any complaint within 15 days after the final hearing thereon and shall give notice in writing of the ruling or decisio…

NRS 645G.575 Decision of Commissioner in disciplinary action final when in favor of licensee; judicial review of decision against licensee. 1. A ruling or decision of the Commissioner in any disciplinary action is final when in favor of the licensee. 2. If a ruling or decision is…

NRS 645G.900 Prohibited acts; penalties; injunctive relief. 1. Any person who is not licensed pursuant to this chapter who acts as an exchange facilitator in this State or holds himself or herself out as a licensee and any licensee who commits an act set forth in subsection 1 of …

NRS 645H.010 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 645H.020 to 645H.150, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2011, 2818)

NRS 645H.020 “Administrator” defined. “Administrator” means the Real Estate Administrator. (Added to NRS by 2011, 2818)

NRS 645H.030 “Asset management” defined. “Asset management” means to manage, oversee or direct actions taken to maintain any real property, including, without limitation, any actions taken to preserve, restore or improve the value and to lessen the risk of damage to the property …

NRS 645H.040 “Asset management company” defined. “Asset management company” means a person, limited-liability company, partnership, association or corporation which, for compensation and pursuant to a contractual agreement, power of attorney or other legal authorization, engages …

NRS 645H.050 “Asset manager” defined. “Asset manager” means a person engaged in the business of asset management who is an employee or independent contractor of a registered asset management company. (Added to NRS by 2011, 2819)

NRS 645H.060 “Client” defined. “Client” means: 1. A bank, mortgage company, mortgage servicer as that term is defined in NRS 645F.063, credit union, thrift company, savings and loan association or savings bank, or any subsidiary thereof that is authorized to transact business in …

NRS 645H.070 “Division” defined. “Division” means the Real Estate Division of the Department of Business and Industry. (Added to NRS by 2011, 2819)

NRS 645H.080 “Foreclosure sale” defined. “Foreclosure sale” means a sale of real property to enforce an obligation secured by a mortgage or lien on the property, including, without limitation, the exercise of a trustee’s power of sale pursuant to NRS 107.080. (Added to NRS by 201…

NRS 645H.090 “Homeowner” defined. “Homeowner” means the owner of record of a residence, including, without limitation, the owner of record of a residence in foreclosure at the time the notice of the pendency of an action for foreclosure is recorded pursuant to NRS 14.010 or the n…

NRS 645H.110 “Mortgage company” defined. “Mortgage company” has the meaning ascribed to it in NRS 645B.0127. (Added to NRS by 2011, 2819; A 2017, 3083)

NRS 645H.120 “Real property in foreclosure” defined. “Real property in foreclosure” includes, without limitation, a residence in foreclosure or commercial real property against which there is an outstanding notice of the pendency of an action for foreclosure recorded pursuant to …

NRS 645H.130 “Real property owner” defined. “Real property owner” means the owner of record of real property, including, without limitation, a homeowner or an owner of real property in foreclosure. (Added to NRS by 2011, 2819)

NRS 645H.140 “Residence in foreclosure” defined. “Residence in foreclosure” means any residential real property consisting of: 1. Not more than four family dwelling units, one of which the homeowner or a tenant of the homeowner occupies as his or her principal place of residence;…

NRS 645H.150 “Service report” defined. “Service report” means a written report on a form prescribed by the Division which is provided by an asset management company or asset manager and which lists the specific services performed on real property for a client. (Added to NRS by 20…

NRS 645H.160 Applicability of chapter. 1. The provisions of this chapter which require a certificate of registration or permit do not apply to a person or broker who has a current permit to engage in property management pursuant to chapter 645 of NRS. 2. A person or broker who ha…

NRS 645H.280 Duties of Division; restrictions on employees of Division. 1. The Division shall administer the provisions of this chapter and may employ legal counsel, investigators and other professional consultants necessary to discharge its duties pursuant to this chapter. 2. An…