reglab/housing_qa huggingface dataset:
NV Rev Stat § 645E.300 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.300 - Duties of Commissioner: General supervision and control over mortgage bankers; regulations; investigations; annual or biennial examinations; periodic and special audits; hearings; related fees; classification of certain records and information as confidential. [Effective through December 31, 2019.]

  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 mortgage bankers doing business in this State.  2. In addition to the other duties imposed upon him or her by law, the Commissioner shall:  (a) Adopt regulations establishing reasonable limitations and guidelines on loans made by a mortgage banker to a director, officer or employee of the mortgage banker.  (b) Adopt any other regulations that are necessary to carry out the provisions of this chapter, except as to loan fees.  (c) Conduct such investigations as may be necessary to determine whether any person has violated any provision of this chapter, a regulation adopted pursuant to this chapter or an order of the Commissioner.  (d) Conduct, at his or her discretion, periodic standard examinations of each mortgage banker doing business in this State.  (e) Conduct such other examinations, periodic or special audits, investigations and hearings as may be necessary for the efficient administration of the laws of this State regarding mortgage bankers.  (f) Classify as confidential certain records and information obtained by the Division when those matters are obtained from a governmental agency upon the express condition that they remain confidential. This paragraph does not limit examination by:  (1) The Legislative Auditor; or  (2) The Department of Taxation if necessary to carry out the provisions of chapters 363A and 363C of NRS.  (g) Conduct such examinations and investigations as are necessary to ensure that mortgage bankers meet the requirements of this chapter for obtaining a license, both at the time of the application for a license and thereafter on a continuing basis.  3. For each special audit, investigation or examination, a mortgage banker shall pay a fee based on the rate established pursuant to NRS 645F.280.  (Added to NRS by 1999, 3751; A 2003, 3564; 2003, 20th Special Session, 223; 2007, 962; 2015, 2942; 2017, 3597; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.310 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.310 - Subpoenas; oaths; examination of witnesses; penalty; assessment of costs. [Effective through December 31, 2019.]

  1. In the conduct of any examination, periodic or special audit, investigation or hearing, the Commissioner may:  (a) Compel the attendance of any person by subpoena.  (b) Compel the production of any document by subpoena.  (c) Administer oaths.  (d) Examine any person under oath concerning the business and conduct of affairs of any person subject to the provisions of this chapter and, in connection therewith, require the production of any books, records or papers relevant to the inquiry.  2. Any person subpoenaed under the provisions of this section who willfully refuses or willfully neglects to appear at the time and place named in the subpoena or to produce books, records or papers required by the Commissioner, or who refuses to be sworn or answer as a witness, is guilty of a misdemeanor.  3. In addition to the authority to recover attorney’s fees and costs pursuant to any other statute, the Commissioner may assess against and collect from a person all costs, including, without limitation, reasonable attorney’s fees, that are attributable to any examination, periodic or special audit, investigation or hearing that is conducted to examine or investigate the conduct, activities or business of the person pursuant to this chapter.  (Added to NRS by 1999, 3752; A 2003, 3473; 2009, 1558; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.315 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.315 - Written notice of address change; approval by Commissioner; administrative fine. [Effective through December 31, 2019.]

  1. A licensee who wishes to change the address of an office or other place of business for which the licensee has a license pursuant to this chapter must, at least 10 days before changing the address, give written notice of the proposed change to the Commissioner.  2. Upon receipt of the proposed change of address pursuant to subsection 1, the Commissioner shall provide written approval of the change and the date of the approval.  3. If a licensee fails to provide notice as required pursuant to subsection 1, the Commissioner may impose an administrative fine in an amount not to exceed $500.  (Added to NRS by 2001, 2044; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.320 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.320 - Payment of statutory assessment by mortgage banker; duty of mortgage banker to cooperate fully with audits and examinations. [Effective through December 31, 2019.]

Each mortgage banker shall pay the assessment levied pursuant to NRS 645F.180 and cooperate fully with the audits and examinations performed pursuant thereto.  (Added to NRS by 1999, 3752; A 2003, 3564; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.350 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.350 - Records relating to mortgage transactions, financial condition and trust accounts; monthly report to Commissioner; accounting procedures for trust accounts; regulations; records of licensee who operates outside Nevada; mortgage bankers required to submit reports to Registry. [Effective through December 31, 2019.]

  1. Each mortgage banker shall keep and maintain at all times at each location where the mortgage banker conducts business in this State complete and suitable records of all mortgage transactions made by the mortgage banker at that location. Each mortgage banker shall also keep and maintain at all times at each such location all original books, papers and data, or copies thereof, clearly reflecting the financial condition of the business of the mortgage banker.  2. Except as otherwise provided in subsection 3, each mortgage banker shall submit to the Commissioner each month a report of the mortgage banker’s activity for the previous month. The report must:  (a) Specify the volume of loans made by the mortgage banker for the month or state that no loans were made in that month;  (b) Include any information required pursuant to the regulations adopted by the Commissioner; and  (c) Be submitted to the Commissioner by the 15th day of the month following the month for which the report is made.  3. The Commissioner may waive the requirement to submit a report pursuant to subsection 2 if substantially similar information is available to the Commissioner from another source.  4. The Commissioner may adopt regulations prescribing accounting procedures for mortgage bankers handling trust accounts and the requirements for keeping records relating to such accounts.  5. A licensee who operates outside this State an office or other place of business which is licensed pursuant to this chapter shall:  (a) Make available at a location within this State the books, accounts, papers, records and files of the office or place of business located outside this State to the Commissioner or a representative of the Commissioner; or  (b) Pay the reasonable expenses for travel, meals and lodging of the Commissioner or a representative of the Commissioner incurred during any investigation or examination made at the office or place of business located outside this State.  The licensee must be allowed to choose between paragraph (a) or (b) in complying with the provisions of this subsection.  6. Each mortgage banker who is required to register or voluntarily registers with the Registry shall submit to the Registry and the Commissioner a report of condition or any other report required by the Registry in the form and at the time required by the Registry.  (Added to NRS by 1999, 3752; A 2001, 2046; 2003, 3564; 2011, 3632; 2017, 3598; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.360 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.360 - Annual financial statement; audit of trust accounts; Commissioner authorized to direct submission of financial statement; regulations. [Effective through December 31, 2019.]

  1. Except as otherwise provided in this section, not later than 90 days after the last day of each fiscal year for a mortgage banker, the mortgage banker shall submit to the Commissioner a financial statement that:  (a) Is dated not earlier than the last day of the fiscal year; and  (b) Has been prepared from the books and records of the mortgage banker by an independent certified public accountant who holds a license to practice in this State or in any other state that has not been revoked or suspended.  2. Unless otherwise prohibited by the Registry, the Commissioner may grant a reasonable extension for the submission of a financial statement pursuant to this section if a mortgage banker requests such an extension before the date on which the financial statement is due.  3. If a mortgage banker maintains any accounts described in NRS 645E.430, the financial statement submitted pursuant to this section must be audited.  4. The Commissioner may require the financial statement to be submitted directly to the Commissioner or, if the mortgage banker that submits the financial statement is required to register or voluntarily registers with the Registry, to the Division through the Registry.  5. The Commissioner shall adopt regulations prescribing the scope of an audit conducted pursuant to subsection 3.  (Added to NRS by 1999, 3753; A 2003, 3565; 2007, 963; 2011, 3633; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.370 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.370 - Records of Commissioner: General provisions governing public inspection and confidentiality. [Effective through December 31, 2019.]

  1. Except as otherwise provided in this section or by specific statute, all papers, documents, reports and other written instruments filed with the Commissioner pursuant to this chapter are open to public inspection.  2. The Commissioner may withhold from public inspection or refuse to disclose to a person, for such time as the Commissioner considers necessary, any information that, in the Commissioner’s judgment, would:  (a) Impede or otherwise interfere with an investigation that is currently pending against a mortgage banker; or  (b) Have an undesirable effect on the welfare of the public or the welfare of any mortgage banker.  (Added to NRS by 1999, 3753; A 2003, 3565; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.375 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.375 - Records of Commissioner: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records; disclosure by Commissioner. [Effective through December 31, 2019.]

  1. Except as otherwise provided in this section and NRS 239.0115, a complaint filed with the Commissioner, all documents and other information filed with the complaint and all documents and other information compiled as a result of an investigation conducted to determine whether to initiate disciplinary action are confidential.  2. The complaint or other document filed by the Commissioner to initiate disciplinary action and all documents and information considered by the Commissioner when determining whether to impose discipline are public records.  3. The Commissioner may disclose any document or information made confidential under subsection 1 to the party against whom the complaint is made, a licensing board or agency, the Registry or any other governmental agency, including, without limitation, a law enforcement agency.  (Added to NRS by 2003, 3472; A 2007, 2148; 2011, 3633; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.390 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.390 - Notification of certain transfers required; application to Commissioner for approval of change of control; investigation; waiver. [Effective through December 31, 2019.]

  1. The Commissioner must be notified of a transfer of 10 percent or more of the outstanding voting stock of a mortgage banker and must approve a transfer of voting stock of a mortgage banker which constitutes a change of control.  2. The person who acquires stock resulting in a change of control of the mortgage banker shall apply to the Commissioner for approval of the transfer. The application must contain information which shows that the requirements of this chapter and of the Registry, if applicable, for obtaining a license will be satisfied after the change of control. Except as otherwise provided in subsection 3, the Commissioner shall conduct an investigation to determine whether those requirements will be satisfied. If, after the investigation, the Commissioner denies the application, the Commissioner may forbid the applicant from participating in the business of the mortgage banker.  3. A mortgage banker may submit a written request to the Commissioner to waive an investigation pursuant to subsection 2. The Commissioner may grant a waiver if the applicant has undergone a similar investigation by a state or federal agency in connection with the licensing of or his or her employment with a financial institution.  4. As used in this section, "change of control" means:  (a) A transfer of voting stock which results in giving a person, directly or indirectly, the power to direct the management and policy of a mortgage banker; or  (b) A transfer of at least 25 percent of the outstanding voting stock of a mortgage banker.  (Added to NRS by 1999, 3751; A 2003, 3565; 2011, 3634; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.420 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.420 - Escrow account required for fee, salary, deposit or money paid in advance; release from escrow; exceptions; refunds; penalty. [Effective through December 31, 2019.]

  1. Except as otherwise permitted by law and as otherwise provided in subsection 3, the amount of any advance fee, salary, deposit or money paid to any mortgage banker or other person to obtain a loan secured by a lien on real property must be placed in escrow pending completion of the loan or a commitment for the loan.  2. The amount held in escrow pursuant to subsection 1 must be released:  (a) Upon completion of the loan or commitment for the loan, to the mortgage banker or other person to whom the advance fee, salary, deposit or money was paid.  (b) If the loan or commitment for the loan fails, to the person who made the payment.  3. Advance payments to cover reasonably estimated costs paid to third persons are excluded from the provisions of subsections 1 and 2 if the person making them first signs a written agreement which specifies the estimated costs by item and the estimated aggregate cost, and which recites that money advanced for costs will not be refunded. If an itemized service is not performed and the estimated cost thereof is not refunded, the recipient of the advance payment is subject to the penalties provided in NRS 645E.960.  (Added to NRS by 1999, 3753; A 2003, 3566; 2011, 3634; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.430 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.430 - Trust account required for money deposited to pay taxes or insurance premiums; fiduciary duty of mortgage banker; accounting to debtor and Commissioner; additional duties and prohibitions. [Effective through December 31, 2019.]

  1. All money paid to a mortgage banker for payment of taxes or insurance premiums on real property which secures any loan made by the mortgage banker must be deposited in an insured depository financial institution and kept separate, distinct and apart from money belonging to the mortgage banker. Such money, when deposited, is to be designated as an "impound trust account" or under some other appropriate name indicating that the accounts are not the money of the mortgage banker.  2. The mortgage banker has a fiduciary duty to each debtor with respect to the money in an impound trust account.  3. The mortgage banker shall, upon reasonable notice, account to any debtor whose real property secures a loan made by the mortgage banker for any money which that person has paid to the mortgage banker for the payment of taxes or insurance premiums on the real property.  4. The mortgage banker shall, upon reasonable notice, account to the Commissioner for all money in an impound trust account.  5. A mortgage banker shall:  (a) Require contributions to an impound trust account in an amount reasonably necessary to pay the obligations as they become due.  (b) Within 30 days after the completion of the annual review of an impound trust account, notify the debtor:  (1) Of the amount by which the contributions exceed the amount reasonably necessary to pay the annual obligations due from the account; and  (2) That the debtor may specify the disposition of the excess money within 20 days after receipt of the notice. If the debtor fails to specify such a disposition within that time, the mortgage banker shall maintain the excess money in the account.  This subsection does not prohibit a mortgage banker from requiring additional amounts to be paid into an impound trust account to recover a deficiency that exists in the account.  6. A mortgage banker shall not make payments from an impound trust account in a manner that causes a policy of insurance to be cancelled or causes property taxes or similar payments to become delinquent.  (Added to NRS by 1999, 3754; A 2003, 3566; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.440 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.440 - Limitations on execution or attachment of money in trust account; commingling of money prohibited. [Effective through December 31, 2019.]

  1. Money in an impound trust account is not subject to execution or attachment on any claim against the mortgage banker.  2. It is unlawful for a mortgage banker knowingly to keep or cause to be kept any money in a depository financial institution under the heading of "impound trust account" or any other name designating such money as belonging to the debtors of the mortgage banker, unless the money has been paid to the mortgage banker by a debtor pursuant to NRS 645E.430 and is being held in trust by the mortgage banker pursuant to the provisions of that section.  (Added to NRS by 1999, 3754; A 2003, 3567; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.470 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.470 - Limitations on charging late fee, additional amount of interest or other penalty. [Effective through December 31, 2019.]

  1. If a person is required to make a payment to a mortgage banker pursuant to the terms of a loan secured by a lien on real property, the mortgage banker may not charge the person a late fee, an additional amount of interest or any other penalty in connection with that payment if the payment is delivered to the mortgage banker before 5 p.m. on:  (a) The day that the payment is due pursuant to the terms of the loan, if an office of the mortgage banker is open to customers until 5 p.m. on that day; or  (b) The next day that an office of the mortgage banker is open to customers until 5 p.m., if the provisions of paragraph (a) do not otherwise apply.  2. A person and a mortgage banker may not agree to alter or waive the provisions of this section by contract or other agreement, and any such contract or agreement is void and must not be given effect to the extent that it violates the provisions of this section.  (Added to NRS by 1999, 3755; A 2003, 3567; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.630 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.630 - Authority of Commissioner when unsafe condition or practice is suspected; seizure of property and assets of mortgage banker; duties of Attorney General. [Effective through December 31, 2019.]

  1. In addition to any other action that is permitted pursuant to this chapter, if the Commissioner has reasonable cause to believe that:  (a) The assets or capital of a mortgage banker are impaired; or  (b) A mortgage banker is conducting business in an unsafe and injurious manner that may result in danger to the public,  the Commissioner may immediately take possession of all the property, business and assets of the mortgage banker that are located in this state and retain possession of them pending further proceedings provided for in this chapter.  2. If the licensee, the board of directors or any officer or person in charge of the offices of the mortgage banker refuses to permit the Commissioner to take possession of the property of the mortgage banker pursuant to subsection 1:  (a) The Commissioner shall notify the Attorney General; and  (b) The Attorney General shall immediately bring such proceedings as may be necessary to place the Commissioner in immediate possession of the property of the mortgage banker.  3. If the Commissioner takes possession of the property of the mortgage banker, the Commissioner shall:  (a) Make or have made an inventory of the assets and known liabilities of the mortgage banker; and  (b) File one copy of the inventory in the office of the Commissioner and one copy in the office of the clerk of the district court of the county in which the principal office of the mortgage banker is located and shall mail one copy to each stockholder, partner, officer, director or associate of the mortgage banker at his or her last known address.  4. The clerk of the court with which the copy of the inventory is filed shall file it as any other case or proceeding pending in the court and shall give it a docket number.  (Added to NRS by 1999, 3756; A 2003, 3569; R 2017, 3106, effective January 1, 2020)
NV Rev Stat § 645E.640 (2021)
2021 Nevada Revised Statutes|Chapter 645E - Mortgage Bankers|NRS 645E.640 - Persons entitled to correct unsafe conditions and practices; effect of failure to correct; receivership and liquidation of assets. [Effective through December 31, 2019.]

  1. If the Commissioner takes possession of the property of a mortgage banker pursuant to NRS 645E.630, the licensee, officers, directors, partners, associates or stockholders of the mortgage banker may, within 60 days after the date on which the Commissioner takes possession of the property, make good any deficit in the assets or capital of the mortgage banker or remedy any unsafe and injurious conditions or practices of the mortgage banker.  2. At the expiration of the 60-day period, if the deficiency in assets or capital has not been made good or the unsafe and injurious conditions or practices remedied, the Commissioner may apply to the court to be appointed receiver and proceed to liquidate the assets of the mortgage banker which are located in this State in the same manner as now provided by law for liquidation of a private corporation in receivership.  3. No other person may be appointed receiver by any court without first giving the Commissioner ample notice of his or her application.  4. The inventory made by the Commissioner and all claims filed by creditors are open at all reasonable times for inspection, and any action taken by the receiver upon any of the claims is subject to the approval of the court before which the cause is pending.  5. The expenses of the receiver and compensation of counsel, as well as all expenditures required in the liquidation proceedings, must be fixed by the Commissioner subject to the approval of the court and, upon certification of the Commissioner, must be paid out of the money in his or her hands as the receiver.  (Added to NRS by 1999, 3757; A 2003, 3569; R 2017, 3106, effective January 1, 2020)