2023 Nevada Revised Statutes › Chapter 692A - Title Insurance › NRS 692A.103 - License as escrow officer: Application; qualifications; fees; issuance; period of validity; renewal; expiration; contents; availability for public inspection; notice of change of address; regulations. [Effective until 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.] License as escrow officer: Application; qualifications; fees; issuance; period of validity; renewal; expiration; contents; availability for public inspection; notice of change of address; regulations. [Effective on 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. A person who wishes to obtain a license as an escrow officer must:
(a) File a written application in the Office of the Commissioner;
(b) Except as otherwise provided in subsection 3, demonstrate competency in matters relating to escrows by:
(1) Having at least 1 year of recent experience with respect to escrows of a sufficient nature to allow the person to fulfill the responsibilities of an escrow officer; or
(2) Passing a written examination concerning escrows as prescribed by the Commissioner;
(c) Submit the name and business address of the title agent who will supervise the escrow officer;
(d) Submit the statement required pursuant to NRS 692A.1033; and
(e) Pay the fees required by NRS 680B.010 and, in addition to any other fee or charge, all applicable fees required pursuant to NRS 680C.110.
2. The Commissioner shall issue a license as an escrow officer to any person who satisfies the requirements of subsection 1.
3. The Commissioner may waive the requirements of paragraph (b) of subsection 1 if the applicant submits with his or her application satisfactory proof that the applicant, in good standing, currently holds a license, or held a license within 1 year before the date the applicant submits the application, which was issued pursuant to the provisions of NRS 645A.020.
4. A license issued or renewed pursuant to this chapter continues in force for 3 years unless it is suspended, revoked or otherwise terminated. The license may be renewed upon submission of the statement required pursuant to NRS 692A.1033 and payment of all applicable fees for renewal to the Commissioner on or before the renewal date for the license.
5. The Commissioner may accept a request for renewal received by the Commissioner within 30 days after the expiration of the license if the request is accompanied by the statement required pursuant to NRS 692A.1033 and a fee for renewal of 150 percent of all applicable fees otherwise required, except for any fee required pursuant to NRS 680C.110.
6. Except as otherwise provided in subsection 8, a license as an escrow officer expires if the Commissioner does not receive from the escrow officer an application for renewal pursuant to subsection 4 or 5 on or before the date which is 30 days after the renewal date.
7. The fees specified in subsections 4 and 5 are not refundable.
8. An escrow officer who is unable to renew his or her license because of military service, extended medical disability or other extenuating circumstance may request a waiver of the time limit and of any fine or sanction otherwise required or imposed because of the failure to renew.
9. A license must state the licensee’s name, address and personal identification number, the date of issuance, the lines of authority and the date of expiration and must contain any other information the Commissioner considers necessary. The license must be made available for public inspection upon request.
10. A licensee shall inform the Commissioner of each change of business, residence or electronic mail address, in writing or by other means acceptable to the Commissioner, within 30 days after the change.
11. The Commissioner shall adopt regulations to carry out the provisions of this section.
12. As used in this section, "renewal date" means:
(a) For the first renewal of the license, the last day of the month which is 3 years after the month in which the Commissioner originally issued the license.
(b) For each renewal after the first renewal of the license, the last day of the month which is 3 years after the month in which the license was last due to be renewed.
(Added to NRS by 1985, 1822; A 1987, 465; 1995, 1006; 1997, 2201; 2009, 1813; 2021, 2979)
1. A person who wishes to obtain a license as an escrow officer must:
(a) File a written application in the Office of the Commissioner;
(b) Except as otherwise provided in subsection 3, demonstrate competency in matters relating to escrows by:
(1) Having at least 1 year of recent experience with respect to escrows of a sufficient nature to allow the person to fulfill the responsibilities of an escrow officer; or
(2) Passing a written examination concerning escrows as prescribed by the Commissioner;
(c) Submit the name and business address of the title agent who will supervise the escrow officer; and
(d) Pay the fees required by NRS 680B.010 and, in addition to any other fee or charge, all applicable fees required pursuant to NRS 680C.110.
2. The Commissioner shall issue a license as an escrow officer to any person who satisfies the requirements of subsection 1.
3. The Commissioner may waive the requirements of paragraph (b) of subsection 1 if the applicant submits with his or her application satisfactory proof that the applicant, in good standing, currently holds a license, or held a license within 1 year before the date the applicant submits the application, which was issued pursuant to the provisions of NRS 645A.020.
4. A license issued or renewed pursuant to this chapter continues in force for 3 years unless it is suspended, revoked or otherwise terminated. The license may be renewed by payment of all applicable fees for renewal to the Commissioner on or before the renewal date for the license.
5. The Commissioner may accept a request for renewal received by the Commissioner within 30 days after the expiration of the license if the request is accompanied by a fee for renewal of 150 percent of all applicable fees otherwise required, except for any fee required pursuant to NRS 680C.110.
6. Except as otherwise provided in subsection 8, a license as an escrow officer expires if the Commissioner does not receive from the escrow officer an application for renewal pursuant to subsection 4 or 5 on or before the date which is 30 days after the renewal date.
7. The fees specified in subsections 4 and 5 are not refundable.
8. An escrow officer who is unable to renew his or her license because of military service, extended medical disability or other extenuating circumstance may request a waiver of the time limit and of any fine or sanction otherwise required or imposed because of the failure to renew.
9. A license must state the licensee’s name, address and personal identification number, the date of issuance, the lines of authority and the date of expiration and must contain any other information the Commissioner considers necessary. The license must be made available for public inspection upon request.
10. A licensee shall inform the Commissioner of each change of business, residence or electronic mail address, in writing or by other means acceptable to the Commissioner, within 30 days after the change.
11. The Commissioner shall adopt regulations to carry out the provisions of this section.
12. As used in this section, "renewal date" means:
(a) For the first renewal of the license, the last day of the month which is 3 years after the month in which the Commissioner originally issued the license.
(b) For each renewal after the first renewal of the license, the last day of the month which is 3 years after the month in which the license was last due to be renewed.
(Added to NRS by 1985, 1822; A 1987, 465; 1995, 1006; 1997, 2201; 2009, 1813; 2021, 2979, effective on 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)