reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.405 - License as mortgage loan originator required for mortgage company or qualified employee who engages in or supervises a mortgage loan originator who engages in activities as residential mortgage loan originator.

A mortgage company or qualified employee who wishes to engage in activities as a residential mortgage loan originator or to supervise a mortgage loan originator who engages in activities as a residential mortgage loan originator must obtain and maintain a license as a mortgage loan originator pursuant to the provisions of NRS 645B.400 to 645B.460, inclusive.
(Added to NRS by 2009, 2677; A 2017, 3067)
2023 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.

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)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.460 - Supervision by mortgage company; requirements; regulations.

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)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.490 - Right to be placed on inactive status; procedure for reinstatement.

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)
2023 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)
2023 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.

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)
2023 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.

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)
2023 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 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)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.690 - Duty of Commissioner to take disciplinary action for certain violations.

1. If a person offers or provides any of the services of a mortgage company or mortgage loan originator or otherwise engages in, carries on or holds himself or herself out as engaging in or carrying on the business of a mortgage company or mortgage loan originator and, at the time:
(a) The person was required to have a license pursuant to this chapter and the person did not have such a license;
(b) The person was required to be registered with the Registry and the person was not so registered; or
(c) The person’s license was suspended or revoked pursuant to this chapter,
the Commissioner may impose upon the person an administrative fine of not more than $50,000 for each violation and, if the person has a license, the Commissioner may suspend or revoke it.
2. If a mortgage company violates any provision of subsection 1 of NRS 645B.080 and the mortgage company fails, without reasonable cause, to remedy the violation within 20 business days after being ordered by the Commissioner to do so or within such later time as prescribed by the Commissioner, or if the Commissioner orders a mortgage company to provide information, make a report or permit an examination of his or her books or affairs pursuant to this chapter and the mortgage company fails, without reasonable cause, to comply with the order within 20 business days or within such later time as prescribed by the Commissioner, the Commissioner may:
(a) Impose upon the mortgage company an administrative fine of not more than $25,000 for each violation;
(b) Suspend or revoke the license of the mortgage company; and
(c) Conduct a hearing to determine whether the mortgage company is conducting business in an unsafe and injurious manner that may result in danger to the public and whether it is necessary for the Commissioner to take possession of the property of the mortgage company pursuant to NRS 645B.630.
3. If a mortgage company:
(a) Makes or offers for sale in this State any investments in promissory notes secured by liens on real property; and
(b) Receives the lowest possible rating on two consecutive periodic standard examinations pursuant to NRS 645B.060,
the Commissioner may suspend or revoke the license of the mortgage company.
(Added to NRS by 1999, 3776; A 2003, 3557; 2009, 747, 1451, 1556; 2011, 3624; 2017, 3078, 3597)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.700 - Categorization of major and minor violations; regulations.

1. Except as otherwise provided in subsection 2, for each violation that may be committed by a person pursuant to this chapter or the regulations adopted pursuant to this chapter, the Commissioner may adopt regulations:
(a) Categorizing the violation as a major violation or a minor violation; and
(b) Specifying the disciplinary action that will be taken by the Commissioner pursuant to this chapter against a person who commits:
(1) A major violation. The disciplinary action taken by the Commissioner for a major violation may include, without limitation, suspension or revocation of the person’s license.
(2) More than two minor violations. The Commissioner may establish graduated sanctions for a person who commits more than two minor violations based upon the number, the frequency and the severity of the minor violations and whether the person previously has committed any major violations.
2. The provisions of this section do not apply to a violation for which the Commissioner is required to take disciplinary action in accordance with NRS 645B.690.
(Added to NRS by 1999, 3777; A 2001, 2476)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.710 - Act or omission of partner, officer or director deemed act or omission of partnership, corporation or unincorporated association.

If a person is a partnership, corporation or unincorporated association, the Commissioner may take any disciplinary action required pursuant to NRS 645B.690 and may take any other disciplinary action set forth in this chapter against the person if any member of the partnership or any officer or director of the corporation or unincorporated association has committed any act or omission that would be cause for taking such disciplinary action against a natural person.
(Added to NRS by 1999, 3777; A 2017, 3079)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.720 - Authority of Commissioner to order summary suspension of license and take other action to protect public before conducting hearing.

Before conducting a hearing, the Commissioner may, to the fullest extent permitted by the Constitution of the United States and the Constitution of this State:
1. Order a summary suspension of a license pursuant to subsection 3 of NRS 233B.127; and
2. Take any other action against a licensee or other person that is necessary to protect the health, safety or welfare of the public.
(Added to NRS by 1999, 3777)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.740 - Investigations, actions, disciplinary proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license.

The expiration or revocation of a license of a mortgage company or mortgage loan originator by operation of law or by order or decision of the Commissioner or a court of competent jurisdiction, or the voluntary surrender of a license, does not:
1. Prohibit the Commissioner from initiating or continuing an investigation of, or action or disciplinary proceeding against, the mortgage company or mortgage loan originator as authorized pursuant to the provisions of this chapter or the regulations adopted pursuant thereto; or
2. Prevent the imposition or collection of any fine or penalty authorized pursuant to the provisions of this chapter or the regulations adopted pursuant thereto against the mortgage company or mortgage loan originator.
(Added to NRS by 2009, 1553; A 2017, 3079)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.750 - Duty of Commissioner to provide written notice of disciplinary action or denial of license; right to administrative hearing; entry of final order; appeals.

1. If the Commissioner enters an order taking any disciplinary action against a person or denying a person’s application for a license, the Commissioner shall cause a written notice of the order to be served personally or sent by certified mail or telegram to the person.
2. Unless a hearing has already been conducted concerning the matter, the person, upon application, is entitled to a hearing. If the person does not make such an application within 20 days after the date of the initial order, the Commissioner shall enter a final order concerning the matter.
3. A person may appeal a final order of the Commissioner in accordance with the provisions of chapter 233B of NRS that apply to a contested case.
(Added to NRS by 1973, 1539; A 1983, 1705; 1987, 1881; 1999, 3789; 2003, 984)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.760 - Effect of failure to appear at hearing; penalty.

If a person is alleged to have engaged in any conduct or committed any violation that is described in NRS 645B.620, 645B.630 or 645B.670 or is alleged to have committed a violation of any other provision of this chapter, a regulation adopted pursuant to this chapter or an order of the Commissioner, and the person fails to appear, without reasonable cause, at a hearing before the Commissioner concerning the alleged conduct or violation:
1. The Commissioner shall notify the Attorney General that the person failed to appear;
2. The person is guilty of a misdemeanor and shall be punished as provided in NRS 645B.950; and
3. The Commissioner may conduct the hearing in the person’s absence, draw any conclusions that the Commissioner deems appropriate from the person’s failure to appear and render a decision concerning the alleged conduct or violation.
(Added to NRS by 1999, 3777)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.800 - Attorney General has primary criminal jurisdiction; duty to provide Attorney General with information to assist prosecution; penalty.

1. The Attorney General has primary jurisdiction for the enforcement of this chapter. The Attorney General shall, if appropriate, investigate and prosecute a person who violates:
(a) Any provision of this chapter, a regulation adopted pursuant to this chapter or an order of the Commissioner, including, without limitation, a violation of any provision of NRS 645B.620 or 645B.670; or
(b) Any other law or regulation if the violation is committed by the person in the course of committing a violation described in paragraph (a).
2. The Attorney General shall, if appropriate, investigate and prosecute a person who is alleged to have committed a violation described in subsection 1 whether or not:
(a) The Commissioner notifies the Attorney General of the alleged violation;
(b) The Commissioner takes any disciplinary action against the person alleged to have committed the violation;
(c) Any other person files a complaint against the person alleged to have committed the violation; or
(d) A civil action is commenced against the person alleged to have committed the violation.
3. When acting pursuant to this section, the Attorney General may commence an investigation and file a criminal action without leave of court, and the Attorney General has exclusive charge of the conduct of the prosecution.
4. Except as otherwise provided by the Constitution of the United States, the Constitution of this State or a specific statute, a person shall, if requested, provide the Attorney General with information that would assist in the prosecution of any other person who is alleged to have committed a violation described in subsection 1. If a person fails, without reasonable cause, to provide the Attorney General with such information upon request, the person is guilty of a misdemeanor and shall be punished as provided in NRS 645B.950.
(Added to NRS by 1999, 3778)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.810 - Attorney General may bring civil action; recovery of costs in civil action.

1. The Attorney General may bring any appropriate civil action against a person to enforce any provision of this chapter, a regulation adopted pursuant to this chapter or an order of the Commissioner, including, without limitation, an order of the Commissioner:
(a) Imposing an administrative fine; or
(b) Suspending, revoking or placing conditions upon a license.
2. If the Attorney General prevails in any civil action brought pursuant to this chapter, the court shall order the person against whom the civil action was brought to pay:
(a) Court costs; and
(b) Reasonable costs of the investigation and prosecution of the civil action.
3. Whether or not the Attorney General brings a civil action against a person pursuant to this chapter, the Attorney General may prosecute the person for a criminal violation pursuant to this chapter.
(Added to NRS by 1999, 3778)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.820 - 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 Constitution of the State of Nevada or the Constitution of the United States.
2. Personal service of summons upon a party outside this State is sufficient to confer upon a court of this State jurisdiction over the party so served if the service is made by delivering a copy of the summons, together with a copy of the complaint, to the party served in the manner provided by statute or rule of court for service upon a person of like kind within this State.
3. In all cases of such service, the defendant has 40 days, exclusive of the day of service, within which to answer or plead.
4. This section provides an additional manner of serving process and does not invalidate any other service.
(Added to NRS by 2009, 746)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.900 - Unlawful to conduct business of mortgage company or mortgage loan originator without being licensed or exempt from licensing.

It is unlawful for any person to offer or provide any of the services of a mortgage company or mortgage loan originator or otherwise to engage in, carry on or hold himself or herself out as engaging in or carrying on the business of a mortgage company or mortgage loan originator without first obtaining the applicable license issued pursuant to this chapter, unless the person:
1. Is exempt from the provisions of this chapter; and
2. Complies with the requirements for that exemption.
(Added to NRS by 1973, 1536; A 1981, 1792; 1999, 3801; 2003, 3558; 2017, 3080)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.910 - Unlawful for foreign corporation, association or business trust to conduct business of mortgage company without meeting certain requirements.

It is unlawful for any foreign corporation, association or business trust to conduct any business as a mortgage company within this State, unless it:
1. Qualifies under chapter 80 of NRS; and
2. Complies with the provisions of this chapter or, if it claims an exemption from the provisions of this chapter, complies with the requirements for that exemption.
(Added to NRS by 1973, 1542; A 1999, 3801; 2017, 3080)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.920 - Contracts for mortgage transaction voidable for certain violations.

If a person, or any general partner, director, officer, agent or employee of a person violates the provisions of NRS 645B.900 or 645B.910, any contracts entered into by that person for the mortgage transaction are voidable by the other party to the contract.
(Added to NRS by 2009, 746)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.930 - Civil action authorized for certain violations.

In addition to any other remedy or penalty, if a person, or any general partner, director, officer, agent or employee of a person, violates the provisions of NRS 645B.900 or 645B.910, the client may bring a civil action against the person for:
1. Actual and consequential damages;
2. Punitive damages, which are subject to the provisions of NRS 42.005;
3. Reasonable attorney’s fees and costs; and
4. Any other legal or equitable relief that the court deems appropriate.
(Added to NRS by 2009, 746; A 2017, 3080)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.950 - Penalties for general violations.

1. Except as otherwise provided in NRS 645B.960, a person, or any general partner, director, officer, agent or employee of a person, who violates any provision of this chapter, a regulation adopted pursuant to this chapter or an order of the Commissioner is guilty of a misdemeanor.
2. In addition to any other penalty, if a person is convicted of or enters a plea of nolo contendere to a violation described in subsection 1, the court shall order the person to pay:
(a) Court costs; and
(b) Reasonable costs of the investigation and prosecution of the violation.
(Added to NRS by 1973, 1543; A 1981, 1792; 1999, 3802)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.955 - Commissioner may require licensee to pay restitution.

1. A person who engages in an activity for which a license as a mortgage company or mortgage loan originator 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 restitution to any person who has suffered an economic loss as a result of a violation of the provisions of this chapter or any regulation adopted pursuant thereto.
2. Notwithstanding the provision of paragraph (d) of subsection 1 of NRS 622A.120, payment of restitution pursuant to subsection 1 shall be done in a manner consistent with the provisions of chapter 622A of NRS.
(Added to NRS by 2009, 746; A 2011, 3624; 2017, 2850, 3080)
2023 Nevada Revised Statutes › Chapter 645B - Mortgage Companies and Mortgage Loan Originators › NRS 645B.960 - Penalties for violations relating to escrow or trust accounts.

1. A person, or any general partner, director, officer, agent or employee of a person, who violates any provision of NRS 645B.165 to 645B.180, inclusive, is guilty of:
(a) A misdemeanor if the amount involved is less than $650;
(b) A gross misdemeanor if the amount involved is $650 or more but less than $1,000; or
(c) A category D felony if the amount involved is $1,000 or more, and shall be punished as provided in NRS 193.130.
2. In addition to any other penalty, if a person is convicted of or enters a plea of nolo contendere to a violation described in subsection 1, the court shall order the person to pay:
(a) Court costs; and
(b) Reasonable costs of the investigation and prosecution of the violation.
(Added to NRS by 1981, 1785; A 1985, 2191; 1989, 1442; 1995, 1313; 1999, 3801; 2011, 179)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.010 - Definitions.

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 645C.020 to 645C.130, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 1989, 822; A 1997, 300; 2009, 1520; 2019, 479)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.030 - "Appraisal" defined.

"Appraisal" means an analysis, opinion or conclusion, whether written or oral, relating to the nature, quality, value or use of a specified interest in, or aspect of, identified real estate for or with the expectation of receiving compensation.
(Added to NRS by 1989, 822)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.032 - "Appraisal firm" defined.

"Appraisal firm" means a person, limited-liability company, partnership, association or corporation:
1. Which, for compensation, prepares and communicates appraisals;
2. Whose principal is an appraiser licensed pursuant to this chapter; and
3. Whose principal supervises, trains and reviews work product produced by the persons who produce appraisals for the person, limited-liability company, partnership, association or corporation, including, without limitation, employees and independent contractors.
(Added to NRS by 2009, 1513)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.034 - "Appraisal management company" defined.

1. "Appraisal management company" means a person, limited-liability company, partnership, association or corporation which, for compensation:
(a) Functions as a third-party intermediary between an appraiser valuing properties which secure mortgage loans or mortgages incorporated into a securitization and:
(1) A creditor of a consumer credit transaction secured by the principal dwelling of a consumer or other principal in secondary mortgage markets; or
(2) Any other user of real estate appraisal services;
(b) Recruits, selects, retains and administers a network or panel of appraisers in this State or in the United States, performing real estate appraisal services as independent contractors;
(c) Enters into an agreement to provide real estate appraisal services with a user of such services and one or more appraisers performing such services as independent contractors;
(d) Manages the process of having an appraisal performed, including, without limitation, providing administrative duties such as:
(1) Receiving appraisal orders and appraisal reports;
(2) Submitting completed appraisal reports to creditors and underwriters;
(3) Collecting fees from creditors and underwriters for services provided; and
(4) Reimbursing appraisers for services performed;
(e) Reviews and verifies the work of appraisers;
(f) Contracts with certified appraisers and licensed appraisers to perform appraisal assignments; or
(g) Otherwise serves as a third-party broker of appraisal services.
2. The term does not include:
(a) An appraisal firm;
(b) Any person licensed to practice law in this State who orders an appraisal in connection with a bona fide client relationship when that person directly contracts with an independent appraiser;
(c) Any person or entity that contracts with an independent appraiser acting as an independent contractor for the completion of appraisal assignments that the person or entity cannot complete for any reason, including, without limitation, competency, workload, scheduling or geographic location; and
(d) Any person or entity that contracts with an independent appraiser acting as an independent contractor for the completion of a real estate appraisal assignment and, upon the completion of such an assignment, cosigns the appraisal report with the independent appraiser acting as an independent contractor.
(Added to NRS by 2009, 1513; A 2019, 479)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.037 - "Appraisal Subcommittee" defined.

"Appraisal Subcommittee" means the Appraisal Subcommittee of the Federal Financial Institutions Examination Council.
(Added to NRS by 2019, 477)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.040 - "Appraiser" defined.

"Appraiser" means a person who prepares or communicates an appraisal, but does not include anyone who merely relays an appraisal on behalf of the person who prepares it.
(Added to NRS by 1989, 822)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.055 - "Complex property" defined.

"Complex property" means residential property which:
1. Is atypical for the marketplace in which it is located based on, without limitation, such factors as:
(a) The architectural style of the property;
(b) Special improvements made to the property;
(c) The size of the lot;
(d) The use of the property;
(e) Environmental factors related to the property; and
(f) Ownership of a partial interest in the property; and
2. Requires techniques to be used other than a simple comparison of sales or an analysis of cost or income in order to produce a reliable appraisal of that property.
(Added to NRS by 1997, 299)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.065 - "Federal financial institutions regulatory agency" defined.

"Federal financial institutions regulatory agency" means the:
1. Board of Governors of the Federal Reserve System;
2. Federal Deposit Insurance Corporation;
3. Office of the Comptroller of the Currency;
4. National Credit Union Administration;
5. Federal Housing Finance Agency; or
6. Consumer Financial Protection Bureau.
(Added to NRS by 2019, 477)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.067 - "Federally related transaction" defined.

"Federally related transaction" means any financial transaction related to real estate which:
1. A federal financial institutions regulatory agency or the Resolution Trust Corporation engages in, contracts for or regulates; and
2. Requires the services of an appraiser.
(Added to NRS by 2019, 477)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.070 - "Intern" defined.

"Intern" means a person who actively assists in the preparation or communication of an appraisal, but does not include anyone who merely provides information concerning real estate to an appraiser or records, transcribes or copies information concerning real estate for an appraiser, or relays an appraisal on behalf of an appraiser.
(Added to NRS by 1989, 822)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.100 - "Permit" defined.

"Permit" means a permit to conduct an appraisal issued to an appraiser by the Administrator pursuant to NRS 645C.363.
(Added to NRS by 1989, 823; A 1991, 887; 1993, 812)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.110 - "Real estate" defined.

"Real estate" includes land, any improvements and fixtures permanently affixed thereon, and every right, interest or estate therein, whether legal or equitable, whether corporeal or incorporeal, and whether the property is situated in this state or elsewhere, including without limitation freeholds, leaseholds and interests in condominiums, townhouses and planned unit developments.
(Added to NRS by 1989, 823)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.140 - Purpose of chapter.

The purpose of this chapter is to carry out the policy expressed in the portion of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (12 U.S.C. §§ 3331-3351) which concerns appraisers, to establish a program in this state to license and certify appraisers, and to protect the users of appraisals in this state.
(Added to NRS by 1989, 823; A 1991, 887)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.150 - Applicability of chapter.

The provisions of this chapter do not apply to:
1. A federal or state employee, or an employee of a local government, who prepares or communicates an appraisal as part of his or her official duties, unless a license or certificate is required as a condition of that employment.
2. A person appointed to evaluate real estate pursuant to chapter 152 of NRS or NRS 269.125, except as required by the appointing judge.
3. A board of appraisers acting pursuant to NRS 269.135.
4. A person licensed pursuant to chapter 645 or 684A of NRS, or certified pursuant to chapter 645D of NRS, while performing an act within the scope of his or her license or certificate.
5. A person who makes an evaluation of real estate as an incidental part of his or her employment for which special compensation is not provided, if that evaluation is only provided to the person’s employer for internal use within the place of his or her employment.
6. A person who makes an assessment of the value of property in connection with a judicial proceeding for eminent domain brought pursuant to chapter 37 of NRS.
(Added to NRS by 1989, 823; A 1991, 887; 1997, 1797; 2005, 522)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.170 - Administration by Division; employment of professional consultants to investigate complaints; employees of Division.

1. The Division shall:
(a) Administer this chapter and may employ legal counsel, investigators and other professional consultants necessary to the discharge of its duties pursuant to this chapter; and
(b) Within the limits of available money, employ or contract for the services of professional consultants to investigate complaints, conduct audits and perform any other activities necessary to ensure compliance with Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended.
2. No employee of the Division may:
(a) Be employed by or have an interest in any business that prepares appraisals; or
(b) Act as an appraiser, as an agent for an appraiser or as an intern.
(Added to NRS by 1989, 825; A 2001, 3169)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.175 - Authority for Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions.

1. The Administrator may adopt regulations which establish procedures for the Division to conduct business electronically pursuant to title 59 of NRS with persons who are regulated pursuant to this chapter and with any other persons with whom the Division conducts business. The regulations may include, without limitation, the establishment of fees to pay the costs of conducting business electronically with the Division.
2. In addition to the process authorized by NRS 719.280, if the Division is conducting business electronically with a person and a law requires a signature or record to be notarized, acknowledged, verified or made under oath, the Division may allow the person to substitute a declaration that complies with the provisions of NRS 53.045 or 53.250 to 53.390, inclusive, to satisfy the legal requirement.
3. The Division may refuse to conduct business electronically with a person who has failed to pay money which the person owes to the Division or the Commission.
(Added to NRS by 2003, 1296; A 2011, 18)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.180 - Commission of Appraisers of Real Estate: Creation; appointment and terms of members; limitations on membership.

1. The Commission of Appraisers of Real Estate is hereby created, consisting of five members appointed by the Governor.
2. At least two members of the Commission must be residents of the southern district of Nevada, which consists of the counties of Clark, Esmeralda, Lincoln and Nye.
3. At least two members of the Commission must be residents of the northern district of Nevada, which consists of Carson City, and the counties of Churchill, Douglas, Elko, Eureka, Humboldt, Lander, Lyon, Mineral, Pershing, Storey, Washoe and White Pine.
4. Not more than two members may be appointed from any one county.
5. After the terms of the initial members, the Commission must contain at least two members who hold certificates as general appraisers and at least two members who hold certificates or licenses as residential appraisers.
6. A member of the Commission is eligible for reappointment, but shall not serve for a period greater than 6 years consecutively, after which the member is not eligible for appointment or reappointment until 3 years have elapsed from his or her previous period of service.
(Added to NRS by 1989, 823; A 1991, 888)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.190 - Commission of Appraisers of Real Estate: Qualifications and oaths of members.

1. Each member of the Commission must:
(a) Be a citizen of the United States or be lawfully entitled to remain and work in the United States;
(b) Have been a resident of the State of Nevada for not less than 5 years;
(c) Have been actively engaged in business as an appraiser within the State for a period of not less than 3 years immediately preceding the date of appointment; and
(d) After the terms of the initial members, be a certified or licensed appraiser.
2. Before entering upon the duties of his or her office, each member of the Commission shall take:
(a) The constitutional oath of office; and
(b) An oath that the member is legally qualified to serve as a member of the Commission.
(Added to NRS by 1989, 824; A 1991, 888)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.200 - Commission of Appraisers of Real Estate: Fiscal year; officers; meetings; compensation, per diem allowance and travel expenses of members.

1. The Commission shall:
(a) Operate on the basis of a fiscal year beginning on July 1 and ending on June 30.
(b) At the first meeting of each fiscal year, elect a President, Vice President and Secretary to serve for the ensuing year.
(c) Hold at least two meetings each year, one in the southern part of the State and one in the northern part of the State, at times and places designated by the Commission. When there is sufficient business, additional meetings of the Commission may be held at the call of the President of the Commission. Written notice of the time, place and purpose of each meeting must be given to each member at least 3 working days before the meeting.
2. While engaged in the business of the Commission, each member of the Commission is entitled to receive:
(a) A salary of not more than $150 per day, as fixed by the Commission; and
(b) A per diem allowance and travel expenses at a rate fixed by the Commission. The rate must not exceed the rate provided for state officers and employees generally.
(Added to NRS by 1989, 824; A 1991, 495; 2007, 2958)
2023 Nevada Revised Statutes › Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies › NRS 645C.210 - Commission of Appraisers of Real Estate: Powers and duties; regulations; service of process.

1. The Commission shall:
(a) Adopt a seal to authenticate its proceedings.
(b) Conduct hearings pursuant to this chapter.
(c) Establish programs for education and research in the preparation and communication of appraisals.
(d) Adopt regulations:
(1) Governing the examinations, education and experience required by this chapter;
(2) Establishing standards for the preparation and communication of appraisals; and
(3) Establishing standards of professional conduct.
(e) Perform any other acts necessary to carry out the provisions of this chapter.
2. The Commission may:
(a) Adopt such regulations as are reasonable and necessary for the administration of this chapter; and
(b) By regulation delegate any authority conferred on it by this chapter to the Administrator to be exercised pursuant to the regulations of the Commission.
3. Service of process and other communications upon the Commission may be made at the principal office of the Division.
(Added to NRS by 1989, 824)