reglab/housing_qa huggingface dataset:
NV Rev Stat § 645B.450 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.450 - Conditions and limitations regarding employment of or association with mortgage loan originator; duties of mortgage company or certain exempt persons upon termination of mortgage loan originator. [Effective January 1, 2020.]

  1. A person licensed as a mortgage loan originator pursuant to the provisions of NRS 645B.410 may not be associated with or employed by more than one licensed or registered mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016 at the same time.  2. A mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016 shall not associate with or employ a person as a mortgage loan originator or authorize a person to be associated with the mortgage company or exempt person who holds a certificate of exemption pursuant to NRS 645B.016 as a mortgage loan originator if the mortgage loan originator is not licensed with the Division pursuant to NRS 645B.410. Before allowing a mortgage loan originator to act on its behalf, a mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016, must:  (a) Enter its sponsorship of the mortgage loan originator with the Registry; or  (b) If the mortgage loan originator is not required to be registered with the Registry, notify the Division of its sponsorship of the mortgage loan originator.  3. If a mortgage loan originator terminates his or her association or employment with a mortgage company or exempt person who holds a certificate of exemption pursuant to NRS 645B.016 for any reason, the mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016 shall, not later than the third business day following the date of termination:  (a) Remove its sponsorship of the mortgage loan originator from the Registry; or  (b) If the mortgage loan originator is not required to be registered with the Registry, deliver to the Division and to the mortgage loan originator at the last known residence address of the mortgage loan originator a written statement which includes the name, address and license number of the mortgage loan originator and a statement of the circumstances of the termination.  (Added to NRS by 1999, 3769; A 2001, 2472; 2003, 2723, 2863, 3552; 2011, 1393, 3620; 2017, 3071, effective January 1, 2020)
NV Rev Stat § 645B.460 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.460 - Supervision by mortgage broker; requirements; regulations. [Effective through December 31, 2019.]

  1. A mortgage broker shall exercise reasonable supervision and control over the activities of his or her mortgage agents and must also be licensed as a mortgage agent if required pursuant to NRS 645B.405. Such reasonable supervision and control must include, as appropriate:  (a) The establishment of written policies and procedures for the mortgage agents;  (b) The establishment of a system to review, oversee and inspect the activities of the mortgage agents, including, without limitation:  (1) Transactions handled by the mortgage agents pursuant to this chapter;  (2) Communications between the mortgage agents and a party to such a transaction;  (3) Documents prepared by the mortgage agents that may have a material effect upon the rights or obligations of a party to such a transaction; and  (4) The handling by the mortgage agents of any fee, deposit or money paid to the mortgage broker or the mortgage agents or held in trust by the mortgage broker or the mortgage agents pursuant to this chapter; and  (c) The establishment of a system of reporting to the Division of any fraudulent activity engaged in by any of the mortgage agents.  2. The Commissioner shall allow a mortgage broker to take into consideration the total number of mortgage agents associated with or employed by the mortgage broker when the mortgage broker determines the form and extent of the policies and procedures for those mortgage agents and the system to review, oversee and inspect the activities of those mortgage agents.  3. The Commissioner may adopt regulations prescribing standards for determining whether a mortgage broker has exercised reasonable supervision and control over the activities of a mortgage agent pursuant to this section.  (Added to NRS by 1999, 3769; A 2001, 2473; 2009, 2684; 2013, 117)
NV Rev Stat § 645B.460 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.460 - Supervision by mortgage company; requirements; regulations. [Effective January 1, 2020.]

  1. A mortgage company shall exercise reasonable supervision and control over the activities of his or her mortgage loan originators and must also be licensed as a mortgage loan originator if required pursuant to NRS 645B.405. Such reasonable supervision and control must include, as appropriate:  (a) The establishment of written policies and procedures for the mortgage loan originators;  (b) The establishment of a system to review, oversee and inspect the activities of the mortgage loan originators, including, without limitation:  (1) Transactions handled by the mortgage loan originators pursuant to this chapter;  (2) Communications between the mortgage loan originators and a party to such a transaction;  (3) Documents prepared by the mortgage loan originators that may have a material effect upon the rights or obligations of a party to such a transaction; and  (4) The handling by the mortgage loan originators of any fee, deposit or money paid to the mortgage company or the mortgage loan originators or held in trust by the mortgage company or the mortgage loan originators pursuant to this chapter; and  (c) The establishment of a system of reporting to the Division of any fraudulent activity engaged in by any of the mortgage loan originators.  2. The Commissioner shall allow a mortgage company to take into consideration the total number of mortgage loan originators associated with or employed by the mortgage company when the mortgage company determines the form and extent of the policies and procedures for those mortgage loan originators and the system to review, oversee and inspect the activities of those mortgage loan originators.  3. The Commissioner may adopt regulations prescribing standards for determining whether a mortgage company has exercised reasonable supervision and control over the activities of a mortgage loan originator pursuant to this section.  (Added to NRS by 1999, 3769; A 2001, 2473; 2009, 2684; 2013, 117; 2017, 3071, effective January 1, 2020)
NV Rev Stat § 645B.490 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.490 - Right to be placed on inactive status; procedure for reinstatement. [Effective through December 31, 2019.]

Except as otherwise required by the Registry for persons who are required to register or voluntarily register with the Registry:  1. Any mortgage broker or mortgage agent licensed under the provisions of this chapter who is called into the military service of the United States shall, at his or her request, be relieved from compliance with the provisions of this chapter and placed on inactive status for the period of such military service and for a period of 6 months after discharge therefrom.  2. At any time within 6 months after termination of such service, if the mortgage broker or mortgage agent complies with the provisions of subsection 1, the mortgage broker or mortgage agent may be reinstated, without having to meet any qualification or requirement other than the payment of the reinstatement fee, as provided in NRS 645B.050 or 645B.430, and the mortgage broker or mortgage agent is not required to make payment of the renewal fee for the current year.  3. Any mortgage broker or mortgage agent seeking to qualify for reinstatement, as provided in subsections 1 and 2, must present a certified copy of his or her honorable discharge or certificate of satisfactory service to the Commissioner.  (Added to NRS by 2003, 3545; A 2011, 3620)
NV Rev Stat § 645B.490 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.490 - Right to be placed on inactive status; procedure for reinstatement. [Effective January 1, 2020.]

Except as otherwise required by the Registry for persons who are required to register or voluntarily register with the Registry:  1. Any mortgage company or mortgage loan originator licensed under the provisions of this chapter who is called into the military service of the United States shall, at his or her request, be relieved from compliance with the provisions of this chapter and placed on inactive status for the period of such military service and for a period of 6 months after discharge therefrom.  2. At any time within 6 months after termination of such service, if the mortgage company or mortgage loan originator complies with the provisions of subsection 1, the mortgage company or mortgage loan originator may be reinstated, without having to meet any qualification or requirement other than the payment of the reinstatement fee, as provided in NRS 645B.050 or 645B.430, and the mortgage company or mortgage loan originator is not required to make payment of the renewal fee for the current year.  3. Any mortgage company or mortgage loan originator seeking to qualify for reinstatement, as provided in subsections 1 and 2, must present a certified copy of his or her honorable discharge or certificate of satisfactory service to the Commissioner.  (Added to NRS by 2003, 3545; A 2011, 3620; 2017, 3072, effective January 1, 2020)
NV Rev Stat § 645B.600 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.600 - Person may file complaint alleging violation; requirements.

  1. A person may file with the Commissioner a complaint alleging that another person has violated a provision of this chapter, a regulation adopted pursuant to this chapter or an order of the Commissioner.  2. A complaint filed pursuant to this section must:  (a) Be in writing;  (b) Be signed by the person filing the complaint or the designee of the person filing the complaint;  (c) Contain an address and a telephone number for the person filing the complaint or the designee of the person filing the complaint;  (d) Describe the nature of the alleged violation in as much detail as possible;  (e) Include as exhibits copies of all documentation supporting the complaint; and  (f) Include any other information or supporting materials required by the regulations adopted by the Commissioner or by an order of the Commissioner.  (Added to NRS by 1999, 3775; A 2001, 2474; 2011, 3621)
NV Rev Stat § 645B.630 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.630 - Duties of Commissioner when unsafe condition or practice is suspected; seizure of property and assets of mortgage broker; duties of Attorney General. [Effective through December 31, 2019.]

  1. In addition to any other action that is required or permitted pursuant to this chapter, if the Commissioner has reasonable cause to believe that:  (a) The assets or capital of a mortgage broker are impaired; or  (b) A mortgage broker is conducting business in an unsafe and injurious manner that may result in danger to the public,  the Commissioner shall immediately take possession of all the property, business and assets of the mortgage broker that are located in this State and shall 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 broker refuses to permit the Commissioner to take possession of the property of the mortgage broker 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 broker.  3. If the Commissioner takes possession of the property of the mortgage broker, the Commissioner shall:  (a) Make or have made an inventory of the assets and known liabilities of the mortgage broker;  (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 broker is located and shall mail one copy to each stockholder, partner, officer, director or associate of the mortgage broker at his or her last known address; and  (c) If the mortgage broker maintains any accounts described in NRS 645B.175, not later than 5 business days after the date on which the Commissioner takes possession of the property of the mortgage broker, mail notice of the possession to the last known address of each person whose money is deposited in such an account or whose money was or should have been deposited in such an account during the preceding 12 months.  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 1973, 1541; A 1981, 1790; 1983, 1707; 1987, 1883; 1999, 3791)
NV Rev Stat § 645B.630 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.630 - Duties of Commissioner when unsafe condition or practice is suspected; seizure of property and assets of mortgage company; duties of Attorney General. [Effective January 1, 2020.]

  1. In addition to any other action that is required or permitted pursuant to this chapter, if the Commissioner has reasonable cause to believe that:  (a) The assets or capital of a mortgage company are impaired; or  (b) A mortgage company 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 company that are located in this State and shall 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 company refuses to permit the Commissioner to take possession of the property of the mortgage company 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 company.  3. If the Commissioner takes possession of the property of the mortgage company, the Commissioner shall:  (a) Make or have made an inventory of the assets and known liabilities of the mortgage company;  (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 company is located and shall mail one copy to each stockholder, partner, officer, director or associate of the mortgage company at his or her last known address; and  (c) If the mortgage company maintains any accounts described in NRS 645B.175, not later than 5 business days after the date on which the Commissioner takes possession of the property of the mortgage company, mail notice of the possession to the last known address of each person whose money is deposited in such an account or whose money was or should have been deposited in such an account during the preceding 12 months.  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 1973, 1541; A 1981, 1790; 1983, 1707; 1987, 1883; 1999, 3791; 2017, 3074, effective January 1, 2020)
NV Rev Stat § 645B.640 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.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 broker pursuant to NRS 645B.630, the licensee, officers, directors, partners, associates or stockholders of the mortgage broker 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 broker or remedy any unsafe and injurious conditions or practices of the mortgage broker.  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 broker 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 1973, 1542; A 1983, 1707; 1987, 1884; 1999, 3792)
NV Rev Stat § 645B.640 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.640 - Persons entitled to correct unsafe conditions and practices; effect of failure to correct; receivership and liquidation of assets. [Effective January 1, 2020.]

  1. If the Commissioner takes possession of the property of a mortgage company pursuant to NRS 645B.630, the licensee, officers, directors, partners, associates or stockholders of the mortgage company 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 company or remedy any unsafe and injurious conditions or practices of the mortgage company.  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 company 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 1973, 1542; A 1983, 1707; 1987, 1884; 1999, 3792; 2017, 3074, effective January 1, 2020)
NV Rev Stat § 645B.680 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.680 - Suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license. [Effective until the earlier of January 1, 2020, or 2 years after the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

  1. If the Commissioner receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is the holder of a license as a mortgage broker or mortgage agent, the Commissioner shall deem the license issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Commissioner receives a letter issued to the holder of the license by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the license has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.  2. The Commissioner shall reinstate a license as a mortgage broker or mortgage agent that has been suspended by a district court pursuant to NRS 425.540 if the Commissioner receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose license was suspended stating that the person whose license was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.  (Added to NRS by 1997, 2171; A 1999, 3789; 2003, 3556; 2005, 2807, 2810, 2817)
NV Rev Stat § 645B.680 (2021)
2021 Nevada Revised Statutes|Chapter 645B - Mortgage Companies and Mortgage Loan Originators|NRS 645B.680 - Suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license. [Effective January 1, 2020, and 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 withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

  1. If the Commissioner receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is the holder of a license as a mortgage company or mortgage loan originator, the Commissioner shall deem the license issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Commissioner receives a letter issued to the holder of the license by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the license has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.  2. The Commissioner shall reinstate a license as a mortgage company or mortgage loan originator that has been suspended by a district court pursuant to NRS 425.540 if the Commissioner receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose license was suspended stating that the person whose license was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.  (Added to NRS by 1997, 2171; A 1999, 3789; 2003, 3556; 2005, 2807, 2810, 2817; 2017, 3078, effective January 1, 2020)