Nrs: Chapter 645 - Real Estate Brokers And Salespersons

Link to law: https://www.leg.state.nv.us/NRS/NRS-645.html
Published: 2015

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[Rev. 2/11/2015 11:46:32

AM--2014R2]

CHAPTER 645 - REAL ESTATE BROKERS AND

SALESPERSONS

GENERAL PROVISIONS

NRS 645.0005         Definitions.

NRS 645.001           “Administrator”

defined.

NRS 645.002           “Advance

fee” defined.

NRS 645.004           “Advance

fee listing” defined.

NRS 645.0045         “Agency”

defined.

NRS 645.005           “Brokerage

agreement” defined.

NRS 645.007           “Business”

defined.

NRS 645.0075         “Business

broker” defined.

NRS 645.009           “Client”

defined.

NRS 645.010           “Commission”

defined.

NRS 645.013           “Designated

property manager” defined.

NRS 645.015           “Director”

defined.

NRS 645.018           “Owner-developer”

defined.

NRS 645.019           “Property

management” defined.

NRS 645.0192         “Property

management agreement” defined.

NRS 645.0195         “Property

manager” defined.

NRS 645.020           “Real

estate” defined.

NRS 645.030           “Real

estate broker” defined.

NRS 645.035           “Real

estate broker-salesperson” defined.

NRS 645.037           “Real

Estate Division” and “Division” defined.

NRS 645.040           “Real

estate salesperson” defined.

NRS 645.042           “Used

manufactured home” or “used mobile home” defined.

NRS 645.044           Use

of terms “salesman,” “saleswoman” and “salesperson” authorized.

ADMINISTRATION

NRS 645.045           Administration

by Real Estate Division.

NRS 645.050           Real

Estate Commission: Creation; number and appointment of members; powers and

duties; service of process.

NRS 645.060           Real

Estate Commission: Limitation on consecutive service by member.

NRS 645.070           Real

Estate Commission: Oaths of members.

NRS 645.090           Real

Estate Commission: Qualifications of members.

NRS 645.100           Real

Estate Commission: Residency of members; northern and southern districts.

NRS 645.110           Real

Estate Commission: Officers.

NRS 645.120           Administrator:

Qualifications; restrictions.

NRS 645.130           Employees,

legal counsel, investigators and other professional consultants of Real Estate

Division.

NRS 645.140           Deposit

and use of money received by Division; compensation of members and employees of

Commission.

NRS 645.145           Real

Estate Commission: Fiscal year.

NRS 645.150           Real

Estate Commission: Meetings.

NRS 645.160           Real

Estate Commission: Quorum; effect of vacancy; act of majority.

NRS 645.170           Real

Estate Division: Principal and branch offices.

NRS 645.180           Real

Estate Division: Seal; general provisions governing public inspection and

confidentiality of records; admissibility of certified copies of records as

evidence.

NRS 645.190           Powers

of Real Estate Division; regulations of Commission or Administrator;

publication of manual or guide.

NRS 645.191           Authority

for Real Estate Division to conduct business electronically; regulations; fees;

use of unsworn declaration; exclusions.

NRS 645.193           Real

Estate Division to prepare and distribute forms setting forth certain duties

owed by licensees.

NRS 645.194           Real

Estate Division to prepare booklet concerning certain disclosures required in

sale of residential property.

NRS 645.195           Inspection

of records of broker and owner-developer by Real Estate Division; regulations.

NRS 645.200           Attorney

General: Opinions and action as attorney.

NRS 645.210           Injunctions.

NRS 645.215           Investigation

by Real Estate Division of certain transactions relating to unimproved land or

subdivision; injunction for fraud, deceit or false advertising.

REGULATION OF PRACTICES

NRS 645.230           Unlawful

to engage in certain conduct without license or permit or without complying with

certain provisions of chapter; power of Real Estate Division to file complaint

with court and assist in prosecution of violation; prosecution by district

attorney or Attorney General.

NRS 645.235           Administrative

fine for engaging in certain conduct without license, permit, certificate,

registration or authorization; procedure for imposition of fine; judicial

review; exceptions.

NRS 645.240           Persons

to whom chapter does not apply.

NRS 645.250           Power

of cities and towns to license and regulate brokers and salespersons not

affected.

NRS 645.251           Licensee

not required to comply with certain principles of common law.

NRS 645.2515         Broker’s

price opinion: Requirements; duties of licensee; regulations.

NRS 645.252           Duties

of licensee acting as agent in real estate transaction.

NRS 645.253           Licensees

affiliated with same brokerage: Additional duties when assigned to separate

parties to real estate transaction.

NRS 645.254           Additional

duties of licensee entering into brokerage agreement to represent client in

real estate transaction.

NRS 645.255           Waiver

of duties of licensee prohibited.

NRS 645.256           Broker

who provides asset management services to client required to provide Real

Estate Division with certain information annually; disciplinary action by

Division.

NRS 645.257           Action

to recover damages suffered as result of licensee’s failure to perform certain

duties; standard of care.

NRS 645.258           Duties

concerning transaction involving used manufactured home or used mobile home.

NRS 645.259           Liability

of licensee for misrepresentation made by client; failure of seller to make

required disclosures is public record.

NRS 645.260           One

act constitutes action in capacity of broker or salesperson.

NRS 645.270           Allegation

and proof of licensed status in action for compensation.

NRS 645.280           Association

with or compensation of unlicensed broker, broker-salesperson or salesperson

unlawful; payment of commission other than through broker or owner-developer

unlawful.

NRS 645.283           Owner-developers:

Employment of licensed salespersons; association with qualified sales manager;

registration.

NRS 645.285           Owner-developers:

Form and contents of application for registration.

NRS 645.287           Owner-developers:

Regulations concerning qualifications; principal place of business and records.

NRS 645.289           Owner-developers:

Qualifications and duties of person who acts as sales manager.

NRS 645.300           Delivery

of copy of written brokerage agreement; receipt.

NRS 645.310           Deposits

and trust accounts: Accounting; commingling; records; inspection and audit.

NRS 645.313           Other

financial accounts: Investigation and audit involving insolvency of broker or

enforcement by Division; regulations governing scope of audit; grounds for

disciplinary action.

NRS 645.314           Administrator

may charge broker for costs and fees of audit under certain circumstances;

additional grounds for disciplinary action.

NRS 645.315           Conditions

and limitations on certain advertisements; required disclosures; prohibited

acts.

NRS 645.320           Requirements

for exclusive agency representation.

NRS 645.3205         Dealing

with party to real estate transaction in manner which is deceitful, fraudulent

or dishonest prohibited.

NRS 645.321           Discriminatory

practices unlawful; penalty.

ADVANCE FEES

NRS 645.322           Accounting

of use of advance fee charged or collected; Division may demand accounting.

NRS 645.323           License

required for acceptance of advance fee listing.

NRS 645.324           Forms

of brokerage agreements; reports and forms of accounting; regulations;

maintenance of agreements for review and audit; grounds for disciplinary

action.

LICENSES

NRS 645.330           General

qualifications of applicant; grounds for denial of application; eligibility for

licensing as broker.

NRS 645.332           Applicants

licensed in another jurisdiction: Exemption from certain examination

requirements; issuance of license as broker or broker-salesperson by

reciprocity.

NRS 645.335           Depository

financial institution prohibited from being licensed.

NRS 645.343           Educational

requirements; regulations of Commission concerning standards of education.

NRS 645.345           Regulations

of Division concerning schools and courses of instruction in principles and

practice of real estate; standard of instruction.

NRS 645.350           Application:

Form and contents.

NRS 645.355           Investigation

of applicant’s background; fees; fingerprints.

NRS 645.358           Payment

of child support: Submission of certain information by applicant; grounds for

denial of license; duty of Division. [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.]

NRS 645.358           Payment

of child support: Submission of certain information by applicant; grounds for

denial of license; duty of Division. [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 and expires

by limitation 2 years after that date.]

NRS 645.370           Issuance

of license to certain organizations doing business as broker; restrictions.

NRS 645.380           Issuance

of license as broker required for certain members and officers of certain organizations.

NRS 645.385           Waiver

of requirements of NRS 645.370 and 645.380.

NRS 645.387           Issuance

of license as broker-salesperson or salesperson to sole shareholder of

corporation on behalf of corporation or to manager of limited-liability company

on behalf of company; restrictions; duties; expiration.

NRS 645.400           Additional

information concerning applicants may be required by Division; regulations

concerning applications.

NRS 645.410           Regulations

concerning fees for examination; time for payment of fees.

NRS 645.420           Action

on application by Division; additional investigation; invalidation of license

for certain errors in issuance.

NRS 645.430           Restrictions

on reapplication after applicant denied license on ground other than failure of

examination.

NRS 645.440           Denial

of application: Notice; hearing; written decision; false statement ground for

denial.

NRS 645.450           Time

for examinations.

NRS 645.460           Examination:

Subjects covered; acceptance of national examination.

NRS 645.475           Examination

for license as broker may be taken before meeting requirements for experience;

issuance of license as broker-salesperson upon passing examination; application

and experience required for issuance of license as broker.

NRS 645.490           Issuance

of license; duty of Real Estate Division; renewal of license.

NRS 645.495           Nonresident

licensee to authorize service of process upon Administrator.

NRS 645.510           Authority

of license limited to person or place of business licensed.

NRS 645.520           Form

and contents; limitation on association with or employment of

broker-salesperson or salesperson.

NRS 645.530           Delivery;

display.

NRS 645.550           Broker

to maintain place of business; business must be done from location designated

in license; licensing of broker or owner-developer by county, city or town.

NRS 645.560           Broker:

Erection, maintenance, size and placement of signs.

NRS 645.570           Notice

of change of name, location of business or association; requirements for

transfer of association; effect of failure to give notice.

NRS 645.575           Continuing

education: Standards; renewal or reinstatement of license.

NRS 645.577           Placement

of license on inactive status; reinstatement.

NRS 645.580           Termination

of association or employment of broker-salesperson or salesperson; duties of

broker or owner-developer and broker-salesperson or salesperson; transfer of

license or new license.

NRS 645.590           Termination

of association by broker with limited-liability company, partnership or

corporation; new license.

NRS 645.600           Inactive

status for period of military service; reinstatement.

NRS 645.605           Certificate

authorizing out-of-state licensed broker to cooperate with broker in Nevada:

Issuance; fee; regulations.

NRS 645.6051         Broker

to maintain record of work performed on residential property; contents of

record.

PROPERTY MANAGERS

NRS 645.6052         Permit

to engage in property management: Persons eligible; requirements; instruction;

expiration; renewal; regulations.

NRS 645.6054         Permit

to engage in property management: Requirements for certain organizations.

NRS 645.6055         Designated

property managers: Requirements; qualifications; duties.

NRS 645.6056         Property

management agreements: Requirements; contents.

NRS 645.6058         Disposition

of fees, penalties and fines received by Division; delegation of authority of Division

to hearing officer or panel.

DISCIPLINARY ACTION

NRS 645.610           Investigation

of actions of licensees and other persons.

NRS 645.620           Maintenance

by Division of record of complaints, investigations and denials of

applications.

NRS 645.625           Certain

records relating to investigation deemed confidential; certain records relating

to disciplinary action deemed public records.

NRS 645.630           Authorized

disciplinary action; grounds for disciplinary action; orders imposing

discipline deemed public records.

NRS 645.633           Additional

grounds for disciplinary action: Improper trade practices; violations of

certain orders, agreements, laws and regulations; criminal offenses; other

unprofessional and improper conduct; reciprocal discipline; violations relating

to property management; log of complaints; reports.

NRS 645.635           Additional

grounds for disciplinary action: Unprofessional and improper conduct relating

to real estate transactions.

NRS 645.645           Additional

grounds for disciplinary action: Unprofessional and improper conduct relating

to sale of insurance for home protection.

NRS 645.647           Additional

grounds for disciplinary action: Failure to pay money to Commission or

Division.

NRS 645.648           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.]

NRS 645.660           Knowledge

of associate or employer of violation by licensee or employee; penalties.

NRS 645.670           Effect

on limited-liability company, partnership or corporation of revocation or

suspension of license of manager, partner or officer; termination of suspension

or reinstatement of license.

NRS 645.675           Disciplinary

proceedings, fines and penalties not affected by expiration, revocation or

voluntary surrender of license, permit or registration.

NRS 645.680           Revocation,

suspension or denial of renewal of license, permit or registration: Complaint;

notice of hearing.

NRS 645.685           Revocation,

suspension or denial of renewal of license, permit or registration: Answer;

limitations on time of commencing proceeding.

NRS 645.690           Revocation,

suspension or denial of renewal of license, permit or registration: Hearing;

transcript.

NRS 645.700           Power

of Commission to administer oaths, certify acts and issue subpoenas; service of

process.

NRS 645.710           Fees

and mileage for witness.

NRS 645.720           Enforcement

of subpoenas.

NRS 645.730           Depositions;

taking of evidence in another state; rights of party to hearing.

NRS 645.740           Decision

of Commission: Rendition; notice; effective date; stay of decision.

NRS 645.760           Decision

final when in favor of licensee; judicial review of decision against licensee.

NRS 645.770           Restrictions

on issuance of new license, permit or registration after revocation.

EXPIRATION AND RENEWAL OF LICENSES

NRS 645.780           Expiration

of licenses; length of license periods; additional fees for electronic renewal.

NRS 645.785           Effect

of failure to renew license or permit; increased fee for late renewal.

FEES

NRS 645.830           Amount

of fees.

REAL ESTATE EDUCATION, RESEARCH AND RECOVERY FUND

NRS 645.841           “Fund”

defined.

NRS 645.842           Creation;

use; balances; interest and income.

NRS 645.843           Payment

of additional fee by licensee for augmentation of Fund.

NRS 645.844           Recovery

from Fund: Procedure; grounds; amount; hearing.

NRS 645.845           Administrator

may answer petition for recovery; effect of judgment; compromise of claim.

NRS 645.846           Court

order requiring payment from Fund.

NRS 645.847           Automatic

suspension of license upon payment from Fund; conditions for reinstatement of

license.

NRS 645.848           Distribution

of payment from Fund if claims exceed maximum liability of Fund; order of

payment of claims if balance of Fund insufficient; interest; use of certain

money deposited in Fund.

NRS 645.8491         Administrator

subrogated to rights of judgment creditor; deposit of money recovered.

NRS 645.8492         Waiver

of rights.

NRS 645.8494         Disciplinary

action against licensee not restricted.

BUSINESS BROKERS

NRS 645.863           Permit

to engage in business as business broker: Persons eligible; requirements;

continuing education; expiration; renewal; regulations.

NRS 645.865           Permit

to engage in business as business broker: Requirements for certain

organizations.

NRS 645.867           Designated

business brokers: Requirements; qualifications; duties.

BROKERAGE AGREEMENTS INVOLVING COMMERCIAL REAL ESTATE

General Provisions

NRS 645.8701         Definitions.

NRS 645.8705         “Brokerage

agreement” defined.

NRS 645.8711         “Commercial

real estate” defined.

NRS 645.8715         “Commission”

defined.

NRS 645.8721         “Disposition”

defined.

NRS 645.8725         “Escrow”

defined.

NRS 645.8731         “Escrow

agent” defined.

NRS 645.8735         “Owner”

defined.

NRS 645.8741         “Owner’s

net proceeds” defined.

 

Rights, Duties and Liabilities Relating to Commissions

NRS 645.8761         Broker

has claim upon owner’s net proceeds for earned commissions; conditions and

limitations on enforcement of claim; waiver; inapplicability to third-party

claims; obligation to close escrow unaffected by claim.

NRS 645.8765         Requirements

for broker to enforce claim: Written notice to owner and escrow agent; effect

of failure to provide notice; exceptions.

NRS 645.8771         Requirements

for broker to enforce claim: Information required in notice; verification by

oath; acknowledgment.

NRS 645.8775         Duty

of owner to confirm or deny claim; effect of confirming claim; effect of

denying claim or failing to respond; recording of claim by broker.

NRS 645.8781         Duties

of escrow agent upon notice of claim.

NRS 645.8785         Deposit

of proceeds with district court; discharge of escrow agent from further

liability concerning proceeds.

NRS 645.8791         Civil

action concerning claim: Issuance of order to broker to appear and show cause;

effect of failure to appear; hearings; release of proceeds; frivolous claims;

compensatory damages; award of costs and attorney’s fees to prevailing party.

NRS 645.8795         Priority

of recorded claim.

NRS 645.8801         Release

of recorded claim.

NRS 645.8805         Service

of notice.

NRS 645.8811         Escrow

agents: Immunity; collection of fees for services.

UNLAWFUL ACTS; PENALTIES

NRS 645.990           Unlawful

acts; penalties.

NRS 645.993           Unlawful

to file documents that are false or contain willful, material misstatement of

fact; penalty.

NRS 645.995           Duty

to report conviction to Division.

_________

NOTE:                    Sections 3 to 40, inclusive, of

chapter 517, Statutes of Nevada 2007, at p. 3105, have been codified as NRS 645G.010, 645G.020, 645G.030, 645G.050, 645G.060, 645G.070, 645G.140 to 645G.310, inclusive, 645G.330 to 645G.400, inclusive, 645G.500 to 645G.520, inclusive, and 645G.530 to 645G.900, inclusive.

 

GENERAL PROVISIONS

      NRS 645.0005  Definitions.  As

used in this chapter, unless the context otherwise requires, the words and

terms defined in NRS 645.001 to 645.042, inclusive, have the meanings ascribed to them

in those sections.

      (Added to NRS by 1985, 1260; A 1995, 2074; 1997, 956; 2003, 931, 1290; 2005, 648, 665; 2007, 1788)

      NRS 645.001  “Administrator” defined.  As

used in this chapter, “Administrator” means the Real Estate Administrator.

      (Added to NRS by 1963, 663)

      NRS 645.002  “Advance fee” defined.  “Advance

fee” means a fee contracted for, claimed, demanded, charged, received or

collected for an advance fee listing, advertisement or offer to sell or lease

property, issued for the purpose of promoting the sale or lease of a business

or real estate or for referral to a business or real estate brokers or

salespersons, or both, before the last printing or other last issuance thereof,

other than by a newspaper of general circulation.

      (Added to NRS by 1957, 210; A 1985, 1260)

      NRS 645.004  “Advance fee listing” defined.

      1.  “Advance fee listing” includes, but is

not limited to:

      (a) The name or a list of the names of the

owners, landlords, exchangers or lessors, or the location of property or a

business, or of an interest therein, offered for rent, sale, lease or exchange.

      (b) The name, or a list of the names, or the

location at which prospective or potential purchasers, buyers, lessees, tenants

or exchangers of property may be communicated with or found.

      (c) A brokerage agreement by which a person who

is engaged in the business of promoting the sale or lease of businesses or real

estate agrees to render to an owner or lessee of the property any services, to

promote the sale or lease of the property, for an advance fee.

      (d) A brokerage agreement by which a person

agrees to locate or promote the sale or lease of a business or real estate for

an advance fee.

      2.  The term does not include publications

intended for general circulation.

      (Added to NRS by 1957, 210; A 1971, 681; 1979, 1534; 1985, 1260; 1987, 731; 1995, 2074)

      NRS 645.0045  “Agency” defined.

      1.  “Agency” means a relationship between a

principal and an agent arising out of a brokerage agreement whereby the agent

is engaged to do certain acts on behalf of the principal in dealings with a

third party.

      2.  The term does not include a

relationship arising solely from negotiations or communications with a client

of another broker with the written permission of the broker in accordance with

the provisions of subsection 2 of NRS 645.635.

      (Added to NRS by 2007, 1787)

      NRS 645.005  “Brokerage agreement” defined.  “Brokerage

agreement” means an oral or written contract between a client and a broker in

which the broker agrees to accept valuable consideration from the client or

another person for assisting, soliciting or negotiating the sale, purchase,

option, rental or lease of real property, or the sale, exchange, option or

purchase of a business. The term does not include a property management

agreement.

      (Added to NRS by 1995, 2072; A 2003, 932; 2005, 648)

      NRS 645.007  “Business” defined.  “Business”

means the tangible assets and goodwill of an existing enterprise.

      (Added to NRS by 1985, 1260)

      NRS 645.0075  “Business broker” defined.  “Business

broker” means a person who, while acting for another and for compensation or

with the intention or expectation of receiving compensation:

      1.  Sells, exchanges, options, purchases,

rents or leases a business that is sold, exchanged, optioned, purchased, rented

or leased as part of an interest or estate in real property;

      2.  Negotiates or offers, attempts or

agrees to negotiate the sale, exchange, option, purchase, rental or lease of a

business that is or is intended to be sold, exchanged, optioned, purchased,

rented or leased as part of an interest or estate in real property; or

      3.  Lists or solicits prospective

purchasers of a business if a component of the listing or solicitation is an

interest or estate in real property.

      (Added to NRS by 2005, 646; A 2013, 2097)

      NRS 645.009  “Client” defined.  “Client”

means a person who has entered into a brokerage agreement with a broker or a

property management agreement with a broker.

      (Added to NRS by 1995, 2072; A 2003, 932)

      NRS 645.010  “Commission” defined.  As

used in this chapter, “Commission” means the Real Estate Commission.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1963, 663; 1981,

1605)

      NRS 645.013  “Designated property manager” defined.  “Designated

property manager” means a person who has the qualifications required by NRS 645.6055 to be a designated property manager and

who is appointed as the designated property manager for an office pursuant to NRS 645.6055.

      (Added to NRS by 2003, 1287)

      NRS 645.015  “Director” defined.  As

used in this chapter, “Director” means the Director of the Department of

Business and Industry.

      (Added to NRS by 1963, 663; A 1993, 1891)

      NRS 645.018  “Owner-developer” defined.  As

used in this chapter, “owner-developer” means a person who owns five or more

lots within a recorded subdivision, shown on an approved parcel map, or the

parceling of which has been approved by the county, on each of which there is a

single-family residence not previously sold.

      (Added to NRS by 1975, 1639; A 1979, 1535)

      NRS 645.019  “Property management” defined.  “Property

management” means the physical, administrative or financial maintenance and

management of real property, or the supervision of such activities for a fee,

commission or other compensation or valuable consideration, pursuant to a

property management agreement.

      (Added to NRS by 1997, 954; A 2003, 932)

      NRS 645.0192  “Property management agreement” defined.  “Property management agreement” means a

written contract between a client and a broker in which the broker agrees to

accept valuable consideration from the client or another person for providing

property management for the client.

      (Added to NRS by 2003, 931)

      NRS 645.0195  “Property manager” defined.  “Property

manager” means a person engaged in property management who, as an employee or

independent contractor, is associated with a licensed real estate broker,

whether or not for compensation.

      (Added to NRS by 1997, 954)

      NRS 645.020  “Real estate” defined.  As

used in this chapter, “real estate” means every interest or estate in real

property including but not limited to freeholds, leaseholds and interests in

condominiums, town houses or planned unit developments, whether corporeal or

incorporeal, and whether the real property is situated in this State or

elsewhere.

      [Part 2:150:1947; 1943 NCL § 6396.02]—(NRS A 1973,

1097; 1975, 1541)

      NRS 645.030  “Real estate broker” defined.

      1.  “Real estate broker” means a person

who, for another and for compensation or with the intention or expectation of

receiving compensation:

      (a) Sells, exchanges, options, purchases, rents

or leases, or negotiates or offers, attempts or agrees to negotiate the sale,

exchange, option, purchase, rental or lease of, or lists or solicits

prospective purchasers, lessees or renters of, any real estate or the

improvements thereon or any modular homes, used manufactured homes, used mobile

homes or other housing offered or conveyed with any interest in real estate;

      (b) Engages in or offers to engage in the

business of claiming, demanding, charging, receiving, collecting or contracting

for the collection of an advance fee in connection with any employment

undertaken to promote the sale or lease of business opportunities or real

estate by advance fee listing advertising or other offerings to sell, lease,

exchange or rent property;

      (c) Engages in or offers to engage in the

business of property management; or

      (d) Engages in or offers to engage in the

business of business brokerage.

      2.  Any person who, for another and for

compensation, aids, assists, solicits or negotiates the procurement, sale,

purchase, rental or lease of public lands is a real estate broker within the

meaning of this chapter.

      3.  The term does not include a person who

is employed by a licensed real estate broker to accept reservations on behalf

of a person engaged in the business of the rental of lodging for 31 days or

less, if the employee does not perform any tasks related to the sale or other

transfer of an interest in real estate.

      [Part 2:150:1947; 1943 NCL § 6396.02] +

[2.5:150:1947; added 1955, 615]—(NRS A 1957, 337; 1959, 393; 1963, 330; 1973,

1097; 1975, 1383; 1977,

928; 1979,

1535; 1981,

1327; 1985,

312, 1261;

1997, 505, 956; 2005, 648, 665)

      NRS 645.035  “Real estate broker-salesperson” defined.

      1.  Within the meaning of this chapter, a

“real estate broker-salesperson” is any person who holds a real estate broker’s

license, or who has passed the real estate broker’s examination, but who, as an

employee or as an independent contractor, for compensation or otherwise, is

associated with:

      (a) A licensed real estate broker in the capacity

of a salesperson, to do or to deal in any act, acts or transactions included

within the definition of a real estate broker in NRS

645.030; or

      (b) A registered owner-developer in the capacity

of a sales manager in accordance with NRS 645.283

and 645.289.

      2.  In this chapter, the term “real estate

salesperson” includes “real estate broker-salesperson” when applicable.

      (Added to NRS by 1957, 337; A 1975, 793, 1541; 1977, 928; 1981, 1605; 1985, 312; 2005, 1286)

      NRS 645.037  “Real Estate Division” and “Division” defined.  As used in this chapter, “Real Estate

Division” and “Division” mean the Real Estate Division of the Department of

Business and Industry.

      (Added to NRS by 1963, 663; A 1973, 1098; 1993, 1891)

      NRS 645.040  “Real estate salesperson” defined.  Within

the meaning of this chapter, a “real estate salesperson” is any person who, as

an employee or as an independent contractor, is associated with a licensed real

estate broker or registered owner-developer to do or to deal in any act, acts

or transactions set out or comprehended by the definition of a real estate

broker in NRS 645.030, for a compensation or

otherwise.

      [3:150:1947; 1943 NCL § 6396.03]—(NRS A 1971, 1410;

1973, 1763; 1975, 1541, 1639; 1977, 929; 1985, 313)

      NRS 645.042  “Used manufactured home” or “used mobile home” defined.  “Used manufactured home” or “used mobile home”

means a manufactured home or mobile home, respectively, which has been:

      1.  Sold, rented or leased, and which was

occupied before or after the sale, rental or lease; or

      2.  Registered with or been the subject of

a certificate of title issued by the appropriate agency of authority of this

State, any other state, the District of Columbia, any territory or possession

of the United States, or any foreign state, province or country.

      (Added to NRS by 2005, 664)

      NRS 645.044  Use of terms “salesman,” “saleswoman” and “salesperson”

authorized.

      1.  A person licensed as a real estate

salesperson may use the term “real estate salesman,” “real estate saleswoman”

or “real estate salesperson” in the course of doing business.

      2.  A person licensed as a real estate

broker-salesperson may use the term “real estate broker-salesman,” “real estate

broker-saleswoman” or “real estate broker-salesperson” in the course of doing

business.

      (Added to NRS by 1999, 92)

ADMINISTRATION

      NRS 645.045  Administration by Real Estate Division.  The

provisions of this chapter shall be administered by the Real Estate Division,

subject to administrative supervision by the Director.

      (Added to NRS by 1963, 663)

      NRS 645.050  Real Estate Commission: Creation; number and appointment of

members; powers and duties; service of process.

      1.  The Real Estate Commission is hereby

created. The Commission consists of five members appointed by the Governor.

      2.  The Commission shall act in an advisory

capacity to the Real Estate Division, adopt regulations and conduct hearings as

provided in this chapter. The Commission shall adopt regulations establishing

standards for the operation of licensees’ offices and for their business

conduct and ethics.

      3.  The Commission may by regulation

delegate any authority conferred upon it by this chapter to the Administrator

to be exercised pursuant to the regulations of the Commission.

      4.  Service of process and other

communications upon the Commission may be made at the principal office of the

Real Estate Division.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1963, 663; 1973, 1098; 1979, 1536; 1981, 1605)

      NRS 645.060  Real Estate Commission: Limitation on consecutive service by

member.  Members are eligible for

reappointment, but shall not serve for a period greater than 6 years

consecutively, after which time they are not eligible for appointment or

reappointment until 3 years have elapsed from any period of previous service.

If a successor is appointed to fill the balance of any unexpired term of a

member, the time served by the successor shall not apply in computing the 6

years’ consecutive service unless the balance of the unexpired term exceeds 18

months.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A 1977, 1259)

      NRS 645.070  Real Estate Commission: Oaths of members.  Each member of the Commission shall, before

entering upon the duties of his or her office:

      1.  Take the constitutional oath of office;

and

      2.  In addition, make oath that the member

is legally qualified under the provisions of this chapter to serve as a member

of the Commission.

      [Part 6:150:1947; A 1949, 433; 1955, 131]

      NRS 645.090  Real Estate Commission: Qualifications of members.  Each member of the Commission must:

      1.  Be a citizen of the United States.

      2.  Have been a resident of the State of

Nevada for not less than 5 years.

      3.  Have been actively engaged in business

as:

      (a) A real estate broker within the State of

Nevada for at least 3 years immediately preceding the date of appointment; or

      (b) A real estate broker-salesperson within the

State of Nevada for at least 5 years immediately preceding the date of

appointment.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A 1981, 1605; 1987, 912)

      NRS 645.100  Real Estate Commission: Residency of members; northern and

southern districts.

      1.  At least two members of the Commission

must be residents of the southern district of Nevada, and at least two members

of the Commission must be residents of the northern district of Nevada.

      2.  Not more than two members may be

appointed from any one county.

      3.  The southern district consists of all

that portion of the State lying within the boundaries of the counties of Clark,

Esmeralda, Lincoln and Nye.

      4.  The northern district consists of all

that portion of the State lying within the boundaries of Carson City and the

counties of Churchill, Douglas, Elko, Eureka, Humboldt, Lander, Lyon, Mineral,

Pershing, Storey, Washoe and White Pine.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1959, 393; 1969, 343, 893; 1981, 1328)

      NRS 645.110  Real Estate Commission: Officers.  The

Commission, at the first meeting of each fiscal year, shall elect a President,

a Vice President and a Secretary to serve for the ensuing year.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1963, 161, 663; 1981,

1606)

      NRS 645.120  Administrator: Qualifications; restrictions.  The Administrator shall:

      1.  Possess a broad knowledge of generally

accepted real estate practice and be reasonably well informed on laws governing

real estate agency contracts.

      2.  Not be interested in any real estate

firm or brokerage firm, nor shall he or she act as a broker or salesperson or

agent therefor.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1957, 337; 1959, 394; 1963, 664; 1967, 931; 1975, 351; 1985, 1261)

      NRS 645.130  Employees, legal counsel, investigators and other professional

consultants of Real Estate Division.

      1.  The Real Estate Division may employ:

      (a) Legal counsel, investigators and other

professional consultants without regard to the provisions of chapter 284 of NRS.

      (b) Such other employees as are necessary to the

discharge of its duties.

      2.  No employee of the Real Estate Division

may be interested in any real estate firm or brokerage firm, nor may any

employee act as a broker or salesperson or agent therefor.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1963, 162, 664; 1967, 1503; 1971, 1442; 1981, 1285; 1985, 445, 1261)

      NRS 645.140  Deposit and use of money received by Division; compensation of

members and employees of Commission.

      1.  Except as otherwise provided in this

section, all fees, penalties and charges received by the Division pursuant to NRS 645.410, 645.660 and 645.830 must be deposited with the State Treasurer for

credit to the State General Fund. The fees received by the Division:

      (a) From the sale of publications, must be

retained by the Division to pay the costs of printing and distributing

publications.

      (b) For examinations, must be retained by the

Division to pay the costs of the administration of examinations.

Ê Any surplus

of the fees retained by the Division must be deposited with the State Treasurer

for credit to the State General Fund.

      2.  Money for the support of the Division

must be provided by direct legislative appropriation, and be paid out on claims

as other claims against the State are paid.

      3.  Each member of the Commission is

entitled to receive:

      (a) A salary of not more than $150 per day, as

fixed by the Commission, while engaged in the business of the Commission; and

      (b) A per diem allowance and travel expenses at a

rate fixed by the Commission, while engaged in the business of the Commission.

The rate must not exceed the rate provided for state officers and employees

generally.

      4.  While engaged in the business of the

Commission, each employee of the Commission is entitled to receive 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.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1957, 547; 1960, 305; 1963, 162, 664; 1965, 1140; 1967, 931; 1973, 1098; 1975,

307; 1979, 1536;

1981, 1995;

1983, 332, 1544, 1546; 1985, 445; 1989, 1705; 1995, 161; 1997, 847; 2007, 2958)

      NRS 645.145  Real Estate Commission: Fiscal year.  The

Commission shall operate on the basis of a fiscal year commencing on July 1 and

terminating on June 30.

      (Added to NRS by 1963, 161)

      NRS 645.150  Real Estate Commission: Meetings.

      1.  The Commission may hold at least two

regular meetings annually, one of which must be held in the southern part of

the State, and one of which must be held in the northern part of the State, at

such place or places as the Commission designates for that purpose.

      2.  Additional meetings of the Commission

may be held at the call of the President when there is sufficient business to

come before the Commission to warrant such action, at any place convenient to

the Commission, or upon written request of two members of the Commission.

Written notice of the time, place and purpose of all meetings must be given to

each member at least 3 working days before the meeting.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1959, 394; 1981,

1606; 1983,

1448)

      NRS 645.160  Real Estate Commission: Quorum; effect of vacancy; act of

majority.

      1.  A majority of the Commission shall

constitute a quorum for the transaction of business, for the performance of any

duty, or for the exercise of any power or authority of the Commission.

      2.  A vacancy on the Commission shall not

impair the right of the remaining members to perform all of the duties and

exercise all of the power and authority of the Commission.

      3.  The act of the majority of the

Commission when in session as a Commission shall constitute the act of the

Commission.

      [Part 6:150:1947; A 1949, 433; 1955, 131]

      NRS 645.170  Real Estate Division: Principal and branch offices.

      1.  The Director shall designate the

location of the principal office of the Real Estate Division. The Administrator

shall conduct business primarily in the principal office of the Real Estate

Division.

      2.  If the principal office of the Real

Estate Division is located in:

      (a) The southern district of Nevada created

pursuant to subsection 3 of NRS 645.100, the Real

Estate Division shall establish at least one branch office in the northern

district of Nevada created pursuant to subsection 4 of NRS

645.100.

      (b) The northern district of Nevada, the Real

Estate Division shall establish at least one branch office in the southern

district of Nevada.

      3.  The Real Estate Division may designate

other convenient places within the State for the establishment of branch offices.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1963, 664; 1995,

993)

      NRS 645.180  Real Estate Division: Seal; general provisions governing public

inspection and confidentiality of records; admissibility of certified copies of

records as evidence.

      1.  The Division shall adopt a seal by

which it shall authenticate its proceedings.

      2.  Except as otherwise provided in NRS 645.625, records kept in the office of the

Division under authority of this chapter are open to public inspection under

regulations adopted by the Division, except that the Division may refuse to

make public, unless ordered to do so by a court:

      (a) Real estate brokers’ and real estate

salespersons’ examinations; and

      (b) The criminal and financial records of

licensees, applicants for licenses and owner-developers.

      3.  Copies of all records and papers in the

office of the Division, certified and authenticated by the seal of the

Division, must be received in evidence in all courts equally and with like

effect as the originals.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1963, 665; 1975, 1541; 1979, 1537; 2003, 3464)

      NRS 645.190  Powers of Real Estate Division; regulations of Commission or

Administrator; publication of manual or guide.

      1.  The Division may do all things

necessary and convenient for carrying into effect the provisions of this

chapter.

      2.  The Commission or the Administrator,

with the approval of the Commission, may from time to time adopt reasonable

regulations for the administration of this chapter. When regulations are

proposed by the Administrator, in addition to other notices required by law,

the Administrator shall provide copies of the proposed regulations to the

Commission no later than 30 days before the next Commission meeting. The

Commission shall approve, amend or disapprove any proposed regulations at that

meeting.

      3.  All regulations adopted by the

Commission, or adopted by the Administrator with the approval of the

Commission, must be published by the Division and offered for sale at a

reasonable fee.

      4.  The Division may publish or supply a

reference manual or study guide for licensees or applicants for licenses, and

may offer it for sale at a reasonable fee.

      [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A

1963, 1073; 1973, 1099; 1975, 1542; 1977, 91; 1979, 1537)

      NRS 645.191  Authority for Real Estate 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, 1288; A 2011, 17)

      NRS 645.193  Real Estate Division to prepare and distribute forms setting

forth certain duties owed by licensees.  The

Division shall prepare and distribute to licensees:

      1.  A form which sets forth the duties owed

by a licensee who is acting for only one party to a real estate transaction.

      2.  A form which sets forth the duties owed

by a licensee who is acting for more than one party to a real estate

transaction.

      3.  A form which sets forth the duties owed

by a real estate broker who assigns different licensees affiliated with his or

her brokerage to separate parties to a real estate transaction.

      (Added to NRS by 1995, 2073)

      NRS 645.194  Real Estate Division to prepare booklet concerning certain

disclosures required in sale of residential property.

      1.  The Division shall prepare a booklet

that provides relevant information concerning the disclosures that are required

by federal, state and local laws and regulations by a buyer and a seller in a

transaction involving the sale of residential property.

      2.  The Division shall make copies of the

booklet prepared pursuant to subsection 1 available to licensees which the

licensee must distribute to prospective buyers and sellers in the sale of

residential property in accordance with the regulations adopted by the

Commission.

      3.  The Commission shall approve the format

and content of the information that must be included in the booklet.

      4.  As used in this section, “residential

property” has the meaning ascribed to it in NRS

113.100.

      (Added to NRS by 2005, 1285)

      NRS 645.195  Inspection of records of broker and owner-developer by Real

Estate Division; regulations.

      1.  The Division shall regularly inspect

the transaction files, trust records and pertinent real estate business

accounts of all real estate brokers and owner-developers to ensure compliance

with the provisions of this chapter.

      2.  The Commission shall adopt regulations

pertaining to those inspections.

      (Added to NRS by 1973, 989; A 1975, 1542; 1979, 1537)

      NRS 645.200  Attorney General: Opinions and action as attorney.

      1.  The Attorney General shall render to

the Division opinions upon all questions of law relating to the construction or

interpretation of this chapter, or arising in the administration thereof, that

may be submitted to the Attorney General by the Division or the Commission.

      2.  The Attorney General shall act as the

attorney for the Division in all actions and proceedings brought against or by

the Division pursuant to any of the provisions of this chapter.

      [7:150:1947; 1943 NCL § 6396.07]—(NRS A 1963, 665; 1979, 1537)

      NRS 645.210  Injunctions.

      1.  Whenever the Real Estate Division

believes from evidence satisfactory to it that any person has violated or is

about to violate any of the provisions of this chapter, or any order, license,

permit, decision, demand or requirement, or any part or provision thereof, it

may bring an action, in the name of the Real Estate Division, in the district

court of the State of Nevada in and for the county wherein such person resides,

or, if such person resides outside the State of Nevada, in any court of

competent jurisdiction within or outside the State of Nevada, against such

person to enjoin such person from continuing such violation or engaging therein

or doing any act or acts in furtherance thereof.

      2.  If this action is in a district court

of the State of Nevada, an order or judgment may be entered awarding such

preliminary or final injunction as may be proper, but no preliminary injunction

or temporary restraining order shall be granted without at least 5 days’ notice

to the opposite party.

      [31:150:1947; 1943 NCL § 6396.31]—(NRS A 1963, 665;

1973, 1099)

      NRS 645.215  Investigation by Real Estate Division of certain transactions

relating to unimproved land or subdivision; injunction for fraud, deceit or

false advertising.

      1.  If the Real Estate Division has reason

to believe that fraud, deceit or false advertising is being, has been or is to

be perpetrated in connection with the proposed or completed sale, purchase,

rental, lease or exchange of any vacant or unimproved land or subdivision

outside the corporate limits of any city, it may investigate the circumstances

of such sale, purchase, rental, lease or exchange.

      2.  If such investigation reveals any

evidence of fraud, deceit or false advertising which has influenced or induced

or may influence or induce the sale, purchase, rental, lease or exchange, the

Real Estate Division shall advise the Attorney General or the district attorney

of the county in which the land or subdivision is located. The district

attorney or, upon the request of the Administrator, the Attorney General shall

cause appropriate legal action to be taken to enjoin any further sale,

purchase, rental, lease or exchange until the fraud, deceit or false

advertising is eliminated and restitution has been made for any loss.

      3.  Nothing in this section shall prevent

prosecution of any person in a criminal action under the provisions of any

other law.

      (Added to NRS by 1961, 75; A 1963, 666; 1973, 1099)

REGULATION OF PRACTICES

      NRS 645.230  Unlawful to engage in certain conduct without license or permit

or without complying with certain provisions of chapter; power of Real Estate

Division to file complaint with court and assist in prosecution of violation;

prosecution by district attorney or Attorney General.

      1.  It is unlawful for any person,

limited-liability company, partnership, association or corporation to engage in

the business of, act in the capacity of, advertise or assume to act as, a:

      (a) Real estate broker, real estate broker-salesperson

or real estate salesperson within the State of Nevada without first obtaining

the appropriate license from the Real Estate Division as provided for in this

chapter;

      (b) Property manager within the State of Nevada

without first obtaining from the Real Estate Division as provided for in this

chapter a license as a real estate broker, real estate broker-salesperson or

real estate salesperson and a permit to engage in property management;

      (c) Designated property manager within the State

of Nevada without complying with the provisions of NRS

645.6055;

      (d) Business broker within the State of Nevada

without first obtaining from the Real Estate Division as provided for in this

chapter a license as a real estate broker, real estate broker-salesperson or

real estate salesperson and a permit to engage in business as a business broker

issued pursuant to the provisions of NRS 645.863;

or

      (e) Designated business broker within the State

of Nevada without complying with the provisions of NRS

645.867.

      2.  The Real Estate Division may prefer a

complaint for a violation of this section before any court of competent

jurisdiction and may assist in presenting the law or facts upon any trial for a

violation of this section.

      3.  The district attorney of each county

shall prosecute all violations of this section in their respective counties in

which violations occur, unless prosecuted by the Attorney General. Upon the

request of the Administrator, the Attorney General shall prosecute any

violation of this section in lieu of the district attorney.

      [1:150:1947; 1943 NCL § 6396.01]—(NRS A 1963, 666;

1973, 1100; 1981,

514; 1985,

1262; 1997,

166, 957;

2003, 1290;

2005, 649)

      NRS 645.235  Administrative fine for engaging in certain conduct without

license, permit, certificate, registration or authorization; procedure for

imposition of fine; judicial review; exceptions.

      1.  In addition to any other remedy or

penalty, the Commission may impose an administrative fine against any person

who knowingly:

      (a) Engages or offers to engage in any activity

for which a license, permit, certificate or registration or any type of

authorization is required pursuant to this chapter, or any regulation adopted

pursuant thereto, if the person does not hold the required license, permit,

certificate or registration or has not been given the required authorization;

or

      (b) Assists or offers to assist another person to

commit a violation described in paragraph (a).

      2.  If the Commission imposes an

administrative fine against a person pursuant to this section, the amount of

the administrative fine may not exceed the amount of any gain or economic

benefit that the person derived from the violation or $5,000, whichever amount

is greater.

      3.  In determining the appropriate amount

of the administrative fine, the Commission shall consider:

      (a) The severity of the violation and the degree

of any harm that the violation caused to other persons;

      (b) The nature and amount of any gain or economic

benefit that the person derived from the violation;

      (c) The person’s history or record of other

violations; and

      (d) Any other facts or circumstances that the

Commission deems to be relevant.

      4.  Before the Commission may impose the

administrative fine, the Commission must provide the person with notice and an

opportunity to be heard.

      5.  The person is entitled to judicial

review of the decision of the Commission in the manner provided by chapter 233B of NRS.

      6.  The provisions of this section do not

apply to a person who engages or offers to engage in activities within the purview

of this chapter if:

      (a) A specific statute exempts the person from

complying with the provisions of this chapter with regard to those activities;

and

      (b) The person is acting in accordance with the

exemption while engaging or offering to engage in those activities.

      (Added to NRS by 2003, 1289)

      NRS 645.240  Persons to whom chapter does not apply.

      1.  The provisions of this chapter do not

apply to, and the terms “real estate broker” and “real estate salesperson” do

not include, any:

      (a) Owner or lessor of property, or any regular

employee of such a person, who performs any of the acts mentioned in NRS 645.030, 645.040, 645.230 and 645.260, with

respect to the property in the regular course of or as an incident to the

management of or investment in the property. For the purposes of this

subsection, “management” means activities which tend to preserve or increase

the income from the property by preserving the physical desirability of the

property or maintaining high standards of service to tenants. The term does not

include sales activities.

      (b) Employee of a real estate broker while

engaged in the collection of rent for or on behalf of the broker.

      (c) Person while performing the duties of a

property manager for a property, if the person maintains an office on the

property and does not engage in property management with regard to any other

property.

      (d) Person while performing the duties of a

property manager for a common-interest community governed by the provisions of chapter 116 of NRS, an association of a

condominium hotel governed by the provisions of chapter

116B of NRS, a condominium project governed by the provisions of chapter 117 of NRS, a time share governed by the

provisions of chapter 119A of NRS, or a

planned unit development governed by the provisions of chapter 278A of NRS, if the person is a member

in good standing of, and, if applicable, holds a current certificate,

registration or other similar form of recognition from, a nationally recognized

organization or association for persons managing such properties that has been

approved by the Real Estate Division by regulation.

      (e) Person while performing the duties of a

property manager for property used for residential housing that is subsidized

either directly or indirectly by this State, an agency or political subdivision

of this State, or the Federal Government or an agency of the Federal

Government.

      2.  The provisions of this chapter do not

apply to:

      (a) Any bank, thrift company, credit union, trust

company, savings and loan association or any mortgage or farm loan association

licensed under the laws of this State or of the United States, with reference

to property it has acquired for development, for the convenient transaction of

its business, or as a result of foreclosure of property encumbered in good

faith as security for a loan or other obligation it has originated or holds.

      (b) A corporation which, through its regular

officers who receive no special compensation for it, performs any of those acts

with reference to the property of the corporation.

      (c) The services rendered by an attorney at law

in the performance of his or her duties as an attorney at law.

      (d) A receiver, trustee in bankruptcy,

administrator or executor, or any other person doing any of the acts specified

in NRS 645.030 under the jurisdiction of any court.

      (e) A trustee acting under a trust agreement,

deed of trust or will, or the regular salaried employees thereof.

      (f) The purchase, sale or locating of mining

claims or options thereon or interests therein.

      (g) The State of Nevada or a political

subdivision thereof.

      [5:150:1947; A 1955, 457]—(NRS A 1973, 1100; 1979, 1538; 1981, 1328; 1983, 151; 1985, 1262, 1507; 1987, 517; 1993, 2021; 1997, 957; 1999, 938; 2007, 2292, 3114; 2009, 35)

      NRS 645.250  Power of cities and towns to license and regulate brokers and

salespersons not affected.  Nothing

contained in this chapter shall affect the power of cities and towns to tax,

license and regulate real estate brokers or real estate salespersons. The

requirements of this chapter shall be in addition to the requirements of any

existing or future ordinance of any city or town so taxing, licensing or

regulating real estate brokers or real estate salespersons.

      [32:150:1947; 1943 NCL § 6396.32]

      NRS 645.251  Licensee not required to comply with certain principles of

common law.  A licensee is not

required to comply with any principles of common law that may otherwise apply

to any of the duties of the licensee as set forth in NRS

645.252, 645.253 and 645.254

and the regulations adopted to carry out those sections.

      (Added to NRS by 1995, 2072)

      NRS 645.2515  Broker’s price opinion: Requirements; duties of licensee;

regulations.

      1.  A person licensed pursuant to this

chapter may prepare and provide a broker’s price opinion and charge and collect

a fee therefor if:

      (a) The license of that licensee is active and in

good standing; and

      (b) The broker’s price opinion meets the

requirements of subsection 3.

      2.  A person licensed pursuant to this

chapter may prepare a broker’s price opinion for:

      (a) An existing or potential seller for the

purposes of listing and selling a parcel of real property;

      (b) An existing or potential buyer of a parcel of

real property;

      (c) A third party making decisions or performing

due diligence related to the potential listing, offering, sale, exchange,

option, lease or acquisition price of a parcel of real property; or

      (d) An existing or potential lienholder, except

that a broker’s price opinion prepared for an existing or potential lienholder

may not be used in lieu of an appraisal for the purpose of determining whether

to approve a mortgage loan.

      3.  A broker’s price opinion must include,

without limitation:

      (a) A statement of the intended purpose of the

broker’s price opinion;

      (b) A brief description of the real property and

the interest in the real property for which the broker’s price opinion is being

prepared;

      (c) The basis used to determine the broker’s

price opinion, including, without limitation, any applicable market data and

the computation of capitalization;

      (d) Any assumptions or limiting conditions used

to determine the broker’s price opinion;

      (e) The date of issuance of the broker’s price

opinion;

      (f) A disclosure of any existing or contemplated

interest of every licensee who prepares or provides the broker’s price opinion,

including, without limitation, the possibility of a licensee representing the

seller or purchaser;

      (g) The license number, name and signature of

every licensee who prepares or provides the broker’s price opinion;

      (h) If a licensee who prepares or provides the

broker’s price opinion is a real estate salesperson or a real estate

broker-salesperson, the name of the real estate broker with whom the licensee

is associated; and

      (i) In at least 14-point bold type, the following

disclaimer:

 

Notwithstanding any preprinted

language to the contrary, this opinion is not an appraisal of the market value

of the property. If an appraisal is desired, the services of a licensed or

certified appraiser must be obtained.

 

      4.  If a broker’s price opinion is

submitted electronically or on a form supplied by the requesting party:

      (a) A signature required by paragraph (g) of

subsection 3 may be an electronic signature, as defined by NRS 719.100.

      (b) A signature required by paragraph (g) of

subsection 3 and the disclaimer required by paragraph (i) of subsection 3 may

be transmitted in a separate attachment if the electronic format or form

supplied by the requesting party does not allow additional comments to be

written by the licensee. The electronic format or the form supplied by the

requesting party must:

             (1) Reference the existence of a separate

attachment; and

             (2) Include a statement that the broker’s

price opinion is not complete without the attachment.

      5.  A broker’s price opinion that is

submitted electronically is subject to any regulations relating to

recordkeeping as adopted pursuant to this chapter.

      6.  A broker is responsible for all

activities of a licensee who is associated with the broker and with the

preparation of a broker’s price opinion.

      7.  The Commission may adopt regulations

prescribing the manner in which a broker’s price opinion must be prepared in

accordance with the provisions of this section.

      8.  As used in this section, “broker’s

price opinion” means a written analysis, opinion or conclusion that a person

licensed pursuant to this chapter prepares for a person described in subsection

2 relating to the estimated price for a specified parcel of real property.

      (Added to NRS by 2009, 1936)

      NRS 645.252  Duties of licensee acting as agent in real estate transaction.  A licensee who acts as an agent in a real

estate transaction:

      1.  Shall disclose to each party to the

real estate transaction as soon as is practicable:

      (a) Any material and relevant facts, data or

information which the licensee knows, or which by the exercise of reasonable

care and diligence should have known, relating to the property which is the

subject of the transaction.

      (b) Each source from which the licensee will

receive compensation as a result of the transaction.

      (c) That the licensee is a principal to the

transaction or has an interest in a principal to the transaction.

      (d) Except as otherwise provided in NRS 645.253, that the licensee is acting for more than

one party to the transaction. If a licensee makes such a disclosure, he or she

must obtain the written consent of each party to the transaction for whom the

licensee is acting before he or she may continue to act in his or her capacity

as an agent. The written consent must include:

             (1) A description of the real estate

transaction.

             (2) A statement that the licensee is

acting for two or more parties to the transaction who have adverse interests

and that in acting for these parties, the licensee has a conflict of interest.

             (3) A statement that the licensee will not

disclose any confidential information for 1 year after the revocation or

termination of any brokerage agreement entered into with a party to the

transaction, unless he or she is required to do so by a court of competent jurisdiction

or is given written permission to do so by that party.

             (4) A statement that a party is not

required to consent to the licensee acting on behalf of the party.

             (5) A statement that the party is giving

consent without coercion and understands the terms of the consent given.

      (e) Any changes in the licensee’s relationship to

a party to the transaction.

      2.  Shall exercise reasonable skill and

care with respect to all parties to the real estate transaction.

      3.  Shall provide the appropriate form

prepared by the Division pursuant to NRS 645.193

to:

      (a) Each party for whom the licensee is acting as

an agent in the real estate transaction; and

      (b) Each unrepresented party to the real estate

transaction, if any.

      4.  Unless otherwise agreed upon in writing,

owes no duty to:

      (a) Independently verify the accuracy of a

statement made by an inspector certified pursuant to chapter 645D of NRS or another appropriate

licensed or certified expert.

      (b) Conduct an independent inspection of the

financial condition of a party to the real estate transaction.

      (c) Conduct an investigation of the condition of

the property which is the subject of the real estate transaction.

      (Added to NRS by 1995, 2072; A 2001, 2892; 2005, 649; 2007, 1788)

      NRS 645.253  Licensees affiliated with same brokerage: Additional duties when

assigned to separate parties to real estate transaction.  If a real estate broker assigns different

licensees affiliated with his or her brokerage to separate parties to a real

estate transaction, the licensees are not required to obtain the written

consent required pursuant to paragraph (d) of subsection 1 of NRS 645.252. Each licensee shall not disclose, except

to the real estate broker, confidential information relating to a client in

violation of NRS 645.254.

      (Added to NRS by 1995, 2073)

      NRS 645.254  Additional duties of licensee entering into brokerage agreement

to represent client in real estate transaction.  A

licensee who has entered into a brokerage agreement to represent a client in a

real estate transaction:

      1.  Shall exercise reasonable skill and

care to carry out the terms of the brokerage agreement and to carry out his or

her duties pursuant to the terms of the brokerage agreement;

      2.  Shall not disclose confidential

information relating to a client for 1 year after the revocation or termination

of the brokerage agreement, unless he or she is required to do so pursuant to

an order of a court of competent jurisdiction or is given written permission to

do so by the client;

      3.  Shall seek a sale, purchase, option,

rental or lease of real property at the price and terms stated in the brokerage

agreement or at a price acceptable to the client;

      4.  Shall present all offers made to or by

the client as soon as is practicable, unless the client chooses to waive the

duty of the licensee to present all offers and signs a waiver of the duty on a

form prescribed by the Division;

      5.  Shall disclose to the client material

facts of which the licensee has knowledge concerning the transaction;

      6.  Shall advise the client to obtain

advice from an expert relating to matters which are beyond the expertise of the

licensee; and

      7.  Shall account for all money and

property the licensee receives in which the client may have an interest as soon

as is practicable.

      (Added to NRS by 1995, 2073; A 2007, 1788)

      NRS 645.255  Waiver of duties of licensee prohibited.  Except as otherwise provided in subsection 4

of NRS 645.254, no duty of a licensee set forth in NRS 645.252 or 645.254 may

be waived.

      (Added to NRS by 2007, 1787)

      NRS 645.256  Broker who provides asset management services to client required

to provide Real Estate Division with certain information annually; disciplinary

action by Division.

      1.  A broker who enters into an agreement

to provide asset management services to a client shall:

      (a) Disclose annually to the Division any such

agreements to provide asset management services to a client; and

      (b) Provide proof satisfactory to the Division on

an annual basis that the broker has complied with the requirements of NRS 645H.490.

      2.  In addition to any other remedy or

penalty, the Division may take administrative action, including, without

limitation, the suspension of a license or permit or the imposition of an

administrative fine, against a broker who fails to comply with this section.

      3.  As used in this section:

      (a) “Asset management” has the meaning ascribed

to it in NRS 645H.030.

      (b) “Client” has the meaning ascribed to it in NRS 645H.060.

      (Added to NRS by 2011, 2831)

      NRS 645.257  Action to recover damages suffered as result of licensee’s

failure to perform certain duties; standard of care.

      1.  A person who has suffered damages as

the proximate result of a licensee’s failure to perform any duties required by NRS 645.252, 645.253 or 645.254 or the regulations adopted to carry out those

sections may bring an action against the licensee for the recovery of the

person’s actual damages.

      2.  In such an action, any knowledge of the

client of the licensee of material facts, data or information relating to the

real property which is the subject of the real estate transaction may not be

imputed to the licensee.

      3.  In an action brought by a person

against a licensee pursuant to subsection 1, the standard of care owed by a

licensee is the degree of care that a reasonably prudent real estate licensee

would exercise and is measured by the degree of knowledge required to be

obtained by a real estate licensee pursuant to NRS

645.343 and 645.345.

      (Added to NRS by 1995, 2073; A 2001, 2893)

      NRS 645.258  Duties concerning transaction involving used manufactured home

or used mobile home.

      1.  In any transaction involving a used

manufactured home or used mobile home that has not been converted to real

property pursuant to NRS 361.244, a

licensee shall provide to the purchaser, on a form prepared by the Real Estate

Division, the following disclosures:

      (a) The year, serial number and manufacturer of

the used manufactured home or used mobile home;

      (b) A statement that the used manufactured home

or used mobile home is personal property subject to personal property taxes;

      (c) A statement of the requirements of NRS 489.521 and 489.531; and

      (d) Such other disclosures as may be required by

the Real Estate Division.

      2.  The disclosures required pursuant to

subsection 1 do not constitute a warranty as to the title or condition of the

used manufactured home or used mobile home.

      3.  A real estate broker who represents a

client in such a transaction shall take such actions as necessary to ensure

that the client complies with the requirements of NRS 489.521 and 489.531.

      (Added to NRS by 2005, 665)

      NRS 645.259  Liability of licensee for misrepresentation made by client;

failure of seller to make required disclosures is public record.  A licensee may not be held liable for:

      1.  A misrepresentation made by his or her

client unless the licensee:

      (a) Knew the client made the misrepresentation;

and

      (b) Failed to inform the person to whom the

client made the misrepresentation that the statement was false.

      2.  Except as otherwise provided in this

subsection, the failure of the seller to make the disclosures required by NRS 113.130 and 113.135 if the information that would have

been disclosed pursuant to NRS 113.130

and 113.135 is a public record which is

readily available to the client. Notwithstanding the provisions of this

subsection, a licensee is not relieved of the duties imposed by paragraph (a)

of subsection 1 of NRS 645.252.

      (Added to NRS by 1995, 2074; A 2001, 2893)

      NRS 645.260  One act constitutes action in capacity of broker or salesperson.  Any person, limited-liability company,

partnership, association or corporation who, for another, in consideration of

compensation by fee, commission, salary or otherwise, or with the intention or

expectation of receiving compensation, does, offers or attempts or agrees to

do, engages in, or offers or attempts or agrees to engage in, either directly

or indirectly, any single act or transaction contained in the definition of a

real estate broker in NRS 645.030, whether the act

is an incidental part of a transaction, or the entire transaction, is acting in

the capacity of a real estate broker or real estate salesperson within the

meaning of this chapter.

      [4:150:1947; 1943 NCL § 6396.04]—(NRS A 1985, 1263; 1997, 166)

      NRS 645.270  Allegation and proof of licensed status in action for

compensation.  A person,

limited-liability company, partnership, association or corporation engaged in

the business or acting in the capacity of a real estate broker or a real estate

salesperson within this State may not commence or maintain any action in the

courts of this State for the collection of compensation for the performance of

any of the acts mentioned in NRS 645.030 without

alleging and proving that the person, limited-liability company, partnership,

association or corporation was a licensed real estate broker or real estate

salesperson at the time the alleged cause of action arose.

      [30:150:1947; 1943 NCL § 6396.30]—(NRS A 1985, 1263; 1997, 166)

      NRS 645.280  Association with or compensation of unlicensed broker,

broker-salesperson or salesperson unlawful; payment of commission other than

through broker or owner-developer unlawful.

      1.  It is unlawful for any licensed real

estate broker, or broker-salesperson or salesperson to offer, promise, allow,

give or pay, directly or indirectly, any part or share of his or her

commission, compensation or finder’s fee arising or accruing from any real

estate transaction to any person who is not a licensed real estate broker,

broker-salesperson or salesperson, in consideration of services performed or to

be performed by the unlicensed person. A licensed real estate broker may pay a

commission to a licensed broker of another state.

      2.  A real estate broker-salesperson or

salesperson shall not be associated with or accept compensation from any person

other than the broker or owner-developer under whom he or she is licensed at

the time of the real estate transaction.

      3.  It is unlawful for any licensed real

estate broker-salesperson or salesperson to pay a commission to any person

except through the broker or owner-developer under whom he or she is licensed

at the time of the real estate transaction.

      [26:150:1947; 1943 NCL § 6396.26]—(NRS A 1959, 394;

1975, 1542; 1979,

1538; 1985,

1263; 2005,

1286)

      NRS 645.283  Owner-developers: Employment of licensed salespersons;

association with qualified sales manager; registration.

      1.  Except as otherwise provided in

subsection 2, an owner-developer who is registered with the Real Estate

Division may employ one or more licensed real estate salespersons to sell any

single-family residence, owned by the owner-developer and not previously sold,

which is within the area covered by his or her current registration.

      2.  An owner-developer may not employ a

licensed real estate salesperson pursuant to subsection 1 unless a licensed

real estate broker-salesperson who is qualified pursuant to NRS 645.289 is associated with the owner-developer as

a sales manager to oversee the activities of the real estate salesperson.

      3.  The area covered by an

owner-developer’s registration may be enlarged from time to time upon

application and payment of the required fee.

      4.  Registration may be kept in force by

annual renewal.

      (Added to NRS by 1975, 1639; A 2005, 1287)

      NRS 645.285  Owner-developers: Form and contents of application for

registration.

      1.  Application for original registration

as an owner-developer shall be made on a form provided by the Division, and

shall set forth:

      (a) The limits of the area within which the

applicant owns the residences proposed to be sold;

      (b) The location of the applicant’s principal

place of business; and

      (c) Any further information required by

regulations of the Commission.

      2.  An application to enlarge the area

covered by a registration shall set forth the limits of the area to be added.

      (Added to NRS by 1975, 1639)

      NRS 645.287  Owner-developers: Regulations concerning qualifications;

principal place of business and records.

      1.  Regulations adopted by the Real Estate

Commission shall not establish any educational qualification or require any

examination of an owner-developer, but shall provide appropriate standards of

good moral character and financial stability.

      2.  Each owner-developer shall maintain a

principal place of business and keep there the records concerning salespersons

employed by the owner-developer.

      (Added to NRS by 1975, 1639)

      NRS 645.289  Owner-developers: Qualifications and duties of person who acts

as sales manager.

      1.  To qualify as a sales manager for the

purposes of NRS 645.283, a licensed real estate

broker-salesperson must have at least 2 years of experience during the

immediately preceding 4 years as a real estate broker-salesperson or

salesperson licensed in this State or any other state or territory of the

United States, or the District of Columbia.

      2.  A real estate broker-salesperson shall:

      (a) Before becoming associated with an

owner-developer as a sales manager, notify the Division on a form prescribed by

the Division that he or she will be acting in that capacity; and

      (b) Upon the termination of his or her

association with an owner-developer as a sales manager, notify the Division of

that fact.

      (Added to NRS by 2005, 1286)

      NRS 645.300  Delivery of copy of written brokerage agreement; receipt.  When a licensee prepares or has prepared a

written brokerage agreement authorizing or employing the licensee to purchase

or sell real estate for compensation or commission, the licensee shall deliver

a copy of the written brokerage agreement to the client signing it at the time

the signature is obtained, if possible, or otherwise within a reasonable time

thereafter. Receipt for the copy may be made on the face of the written

brokerage agreement.

      [28:150:1947; 1943 NCL § 6396.28]—(NRS A 1979, 1539; 1995, 2074)

      NRS 645.310  Deposits and trust accounts: Accounting; commingling; records;

inspection and audit.

      1.  All deposits accepted by every real

estate broker or person registered as an owner-developer pursuant to this

chapter, which are retained by him or her pending consummation or termination

of the transaction involved, must be accounted for in the full amount at the

time of the consummation or termination.

      2.  Every real estate salesperson or

broker-salesperson who receives any money on behalf of a broker or

owner-developer shall pay over the money promptly to the real estate broker or

owner-developer.

      3.  A real estate broker shall not

commingle the money or other property of a client with his or her own.

      4.  If a real estate broker receives money,

as a broker, which belongs to others, the real estate broker shall promptly

deposit the money in a separate checking account located in a bank or credit

union in this State which must be designated a trust account. All down

payments, earnest money deposits, rents, or other money which the real estate

broker receives, on behalf of a client or any other person, must be deposited

in the account unless all persons who have any interest in the money have

agreed otherwise in writing. A real estate broker may pay to any seller or the

seller’s authorized agent the whole or any portion of such special deposit. The

real estate broker is personally responsible and liable for such deposit at all

times. A real estate broker shall not permit any advance payment of money

belonging to others to be deposited in the real estate broker’s business or

personal account or to be commingled with any money he or she may have on

deposit.

      5.  Every real estate broker required to

maintain a separate trust account shall keep records of all money deposited

therein. The records must clearly indicate the date and from whom the real

estate broker received money, the date deposited, the dates of withdrawals, and

other pertinent information concerning the transaction, and must show clearly

for whose account the money is deposited and to whom the money belongs. The

real estate broker shall balance each separate trust account at least monthly.

The real estate broker shall provide to the Division, on a form provided by the

Division, an annual accounting which shows an annual reconciliation of each

separate trust account. All such records and money are subject to inspection

and audit by the Division and its authorized representatives. All such separate

trust accounts must designate the real estate broker as trustee and provide for

withdrawal of money without previous notice.

      6.  Each real estate broker shall notify

the Division of the names of the banks and credit unions in which the real

estate broker maintains trust accounts and specify the names of the accounts on

forms provided by the Division.

      7.  If a real estate broker who has money

in a trust account dies or becomes mentally disabled, the Division, upon

application to the district court, may have a trustee appointed to administer

and distribute the money in the account with the approval of the court. The

trustee may serve without posting a bond.

      [27.5:150:1947; added 1955, 76]—(NRS A 1963, 1073;

1975, 1543; 1979,

1539; 1981,

1606; 1983,

152; 1995,

2074; 1997,

958; 1999,

1538)

      NRS 645.313  Other financial accounts: Investigation and audit involving

insolvency of broker or enforcement by Division; regulations governing scope of

audit; grounds for disciplinary action.

      1.  The Division may investigate and audit

all financial accounts related to the business of a real estate broker, regardless

of whether it is a trust account, if the Division has reasonable cause to

believe that the broker is using or has used the account to operate or carry on

the broker’s business and the Division:

      (a) Has reasonable cause to believe or has

received a credible complaint that the real estate broker is insolvent or is in

any financial condition or has engaged in any financial practice which creates

a substantial risk of insolvency; or

      (b) Determines that the investigation and audit

are reasonably necessary to assist the Division in administering or enforcing

any other provision of this chapter or any other statute that the Division is

charged with administering or enforcing.

      2.  The Commission shall adopt regulations

prescribing the scope of an audit conducted pursuant to this section.

      3.  The Commission may take action pursuant

to NRS 645.630 against:

      (a) Any real estate broker or other licensee who

knowingly fails to cooperate or comply with or knowingly impedes or interferes

with any investigation or audit conducted by the Division pursuant to this

section; or

      (b) Any real estate broker who is insolvent or

who is in any financial condition or has engaged in any financial practice which

creates a substantial risk of insolvency.

      4.  As used in this section, “insolvent” or

“insolvency” means a condition in which a real estate broker is unable to meet

the liabilities of the broker’s business as those liabilities become due in the

regular course of the broker’s business and which creates a substantial risk of

harm to the public or a consumer.

      (Added to NRS by 2003, 1288)

      NRS 645.314  Administrator may charge broker for costs and fees of audit

under certain circumstances; additional grounds for disciplinary action.

      1.  The Administrator may charge and

collect from a real estate broker an amount equal to the amount of the actual

costs and fees incurred by the Division to conduct an audit of the financial

accounts of the real estate broker pursuant to this chapter or any regulations

adopted pursuant thereto if:

      (a) The Division makes a request during the

course of the audit for the real estate broker to produce, provide access to or

grant authorization to the Division to inspect or obtain any documentation

related to the business of a real estate broker which the broker is required to

maintain pursuant to NRS 645.310 and any

regulations adopted pursuant to this chapter;

      (b) The real estate broker fails to comply with

the request within a reasonable time established by the Division; and

      (c) The Division has reasonable cause to believe

that the requested documentation will assist it in investigating whether the

real estate broker has committed any act or offense that would be grounds for

taking disciplinary action against the real estate broker.

      2.  If the Administrator charges a real

estate broker for the costs and fees of an audit pursuant to subsection 1, the

Administrator shall bill the real estate broker upon the completion of the

audit. The costs and fees must be paid within 90 days after the date the real

estate broker receives the bill. Except as otherwise provided in this

subsection, any payment received after the due date must include a penalty in

the amount of 10 percent of the amount specified in the bill plus an additional

penalty in the amount of 1 percent of the amount for each month, or portion of

a month, that the bill is not paid. The Administrator may waive the penalty for

good cause.

      3.  The failure of a real estate broker to

pay any costs and fees as required by this section constitutes grounds for

disciplinary action against the real estate broker.

      4.  Money received by the Division pursuant

to this section must be:

      (a) Deposited with the State Treasurer for credit

to the appropriate account of the Division.

      (b) Used by the Division only to offset the fees

and costs incurred by the Division in carrying out the provisions of NRS 645.313.

      (Added to NRS by 2005, 1285)

      NRS 645.315  Conditions and limitations on certain advertisements; required

disclosures; prohibited acts.

      1.  In any advertisement through which a

licensee offers to perform services for which a license is required pursuant to

this chapter, the licensee shall:

      (a) If the licensee is a real estate broker,

disclose the name of any brokerage under which the licensee does business; or

      (b) If the licensee is a real estate

broker-salesperson or real estate salesperson, disclose the name of the

brokerage with whom the licensee is associated.

      2.  If a licensee is a real estate

broker-salesperson or real estate salesperson, the licensee shall not advertise

solely under the licensee’s own name when acting in the capacity as a

broker-salesperson or salesperson. All such advertising must be done under the

direct supervision of and in the name of the brokerage with whom the licensee

is associated.

      (Added to NRS by 1999, 92; A 2003, 932)

      NRS 645.320  Requirements for exclusive agency representation.  Every brokerage agreement which includes a

provision for an exclusive agency representation must:

      1.  Be in writing.

      2.  Have set forth in its terms a definite,

specified and complete termination.

      3.  Contain no provision which requires the

client who signs the brokerage agreement to notify the real estate broker of

the client’s intention to cancel the exclusive features of the brokerage

agreement after the termination of the brokerage agreement.

      4.  Be signed by both the client or his or

her authorized representative and the broker or his or her authorized

representative in order to be enforceable.

      [28.5:150:1947; added 1955, 18]—(NRS A 1995, 2075; 2003, 932)

      NRS 645.3205  Dealing with party to real estate transaction in manner which is

deceitful, fraudulent or dishonest prohibited.  A

licensee shall not deal with any party to a real estate transaction in a manner

which is deceitful, fraudulent or dishonest.

      (Added to NRS by 1995, 2074)

      NRS 645.321  Discriminatory practices unlawful; penalty.

      1.  It is unlawful, on account of race,

religious creed, color, national origin, disability, sexual orientation, gender

identity or expression, ancestry, familial status or sex, to:

      (a) Discriminate against any person:

             (1) By denying the person access to or

membership or participation in any multiple-listing service, real estate

brokers’ organization or other service or facility relating to the sale or

rental of dwellings; or

             (2) In the terms or conditions of such

access, membership or participation.

      (b) Discriminate against any person:

             (1) By denying the person access to any

opportunity to engage in a transaction regarding residential real estate; or

             (2) In the terms or conditions of such a

transaction.

      2.  Any person violating the provisions of

subsection 1 shall be punished by a fine of $500 for the first offense and for

the second offense shall show cause why his or her license should not be

revoked by the Commission.

      3.  As used in this section:

      (a) “Disability” means, with respect to a person:

             (1) A physical or mental impairment that

substantially limits one or more of the major life activities of the person;

             (2) A record of such an impairment; or

             (3) Being regarded as having such an

impairment.

      (b) “Familial status” means the fact that a

person:

             (1) Lives with a child under the age of 18

and has:

                   (I) Lawful custody of the child; or

                   (II) Written permission to live with

the child from the person who has lawful custody of the child;

             (2) Is pregnant; or

             (3) Has begun a proceeding to adopt or

otherwise obtain lawful custody of a child.

      (c) “Gender identity or expression” means a

gender-related identity, appearance, expression or behavior of a person,

regardless of the person’s assigned sex at birth.

      (d) “Sexual orientation” means having or being

perceived as having an orientation for heterosexuality, homosexuality or

bisexuality.

      (Added to NRS by 1971, 733; A 1991, 1983; 1995, 1994; 2011, 872)

ADVANCE FEES

      NRS 645.322  Accounting of use of advance fee charged or collected; Division

may demand accounting.  Any person

or entity who charges or collects an advance fee shall, within 3 months after

the charge or collection, furnish to his or her client an accounting of the use

of that money. The Real Estate Division may also demand an accounting by such

person or entity of advance fees so collected.

      (Added to NRS by 1957, 211; A 1963, 667; 1995, 2075)

      NRS 645.323  License required for acceptance of advance fee listing.  A person shall not accept an advance fee

listing unless he or she is licensed as a real estate broker,

broker-salesperson or salesperson pursuant to this chapter.

      (Added to NRS by 1985, 1260)

      NRS 645.324  Forms of brokerage agreements; reports and forms of accounting;

regulations; maintenance of agreements for review and audit; grounds for

disciplinary action.

      1.  The Commission may require such forms

of brokerage agreements which include provisions for the payment of advance

fees to be used, and such reports and forms of accounting to be kept, made and

submitted, and may adopt such rules and regulations as the Commission may

determine to be necessary to carry out the purposes and intent of NRS 645.322.

      2.  A licensee shall maintain, for review

and audit by the Division, each brokerage agreement that is entered into by the

licensee.

      3.  Any violation of the rules,

regulations, orders or requirements of the Commission constitutes grounds for

disciplinary action against a licensee.

      (Added to NRS by 1957, 211; A 1995, 2075; 1997, 959)

LICENSES

      NRS 645.330  General qualifications of applicant; grounds for denial of

application; eligibility for licensing as broker.

      1.  Except as otherwise provided by a

specific statute, the Division may approve an application for a license for a

person who meets all the following requirements:

      (a) Has a good reputation for honesty,

trustworthiness and integrity and who offers proof of those qualifications

satisfactory to the Division.

      (b) Has not made a false statement of material

fact on his or her application.

      (c) Is competent to transact the business of a

real estate broker, broker-salesperson or salesperson in a manner which will

safeguard the interests of the public.

      (d) Has passed the examination.

      (e) Has submitted all information required to

complete the application.

      2.  The Division:

      (a) May deny a license to any person who has been

convicted of, or entered a plea of guilty, guilty but mentally ill or nolo

contendere to, forgery, embezzlement, obtaining money under false pretenses,

larceny, extortion, conspiracy to defraud, engaging in a real estate business

without a license, possessing for the purpose of sale any controlled substance

or any crime involving moral turpitude, in any court of competent jurisdiction

in the United States or elsewhere; and

      (b) Shall not issue a license to such a person

until at least 3 years after:

             (1) The person pays any fine or

restitution ordered by the court; or

             (2) The expiration of the period of the

person’s parole, probation or sentence,

Ê whichever is

later.

      3.  Suspension or revocation of a license

pursuant to this chapter or any prior revocation or current suspension in this

or any other state, district or territory of the United States or any foreign

country before the date of the application is grounds for refusal to grant a

license.

      4.  Except as otherwise provided in NRS 645.332, a person may not be licensed as a real

estate broker unless the person has been actively engaged as a full-time

licensed real estate broker-salesperson or salesperson in this State, or

actively engaged as a full-time licensed real estate broker, broker-salesperson

or salesperson in another state or the District of Columbia, for at least 2 of

the 4 years immediately preceding the issuance of a broker’s license.

      [Part 8:150:1947; A 1949, 433; 1955, 424]—(NRS A

1973, 1101; 1975, 794; 1979, 1540; 1981, 1607; 1983, 163; 1985, 1263; 1993, 2805; 1995, 993, 2477; 1997, 2165; 2003, 1499; 2005, 1287, 1288, 2773, 2807; 2007, 1474)

      NRS 645.332  Applicants licensed in another jurisdiction: Exemption from

certain examination requirements; issuance of license as broker or

broker-salesperson by reciprocity.

      1.  An applicant for a license as a real

estate salesperson is not required to pass the uniform portion of a national

real estate examination otherwise required by NRS

645.330 and 645.460 if:

      (a) The applicant holds a license in good

standing as a real estate broker, broker-salesperson or salesperson issued by

another state or territory of the United States, or the District of Columbia;

      (b) The requirements for licensure as a real

estate salesperson issued in that state or territory of the United States, or

the District of Columbia, are substantially equivalent to the requirements in

this State for licensure as a real estate salesperson; and

      (c) The applicant has passed the examination in

that state or territory of the United States, or the District of Columbia.

      2.  The Division may issue a license as a

real estate broker or broker-salesperson to a person who holds a license as a

real estate broker or broker-salesperson, or an equivalent license, issued by a

state or territory of the United States, or the District of Columbia, if that

state or territory, or the District of Columbia, has entered into a reciprocal

agreement with the Commission for the issuance of licenses pursuant to this

chapter and the person submits proof to the Division that:

      (a) The person has been issued a license as a

real estate broker or broker-salesperson, or an equivalent license, by that

state or territory of the United States, or the District of Columbia; and

      (b) At the time the person files an application

with the Division, the license is in good standing.

      3.  The Division may refuse to issue a

license as a real estate broker or broker-salesperson pursuant to subsection 2

to a person who has committed any act or offense that would be grounds for

denying a license to an applicant or taking disciplinary action against a

licensee pursuant to this chapter.

      4.  The Commission shall not enter into a

reciprocal agreement pursuant to subsection 2 unless the provisions relating to

the practice of real estate, including the requirements for the licensing of

real estate brokers and real estate broker-salespersons in the other state or

territory of the United States, or the District of Columbia, are substantially

similar to the provisions relating to the practice of real estate in this

State.

      (Added to NRS by 2005, 1284)

      NRS 645.335  Depository financial institution prohibited from being licensed.

      1.  For the purposes of this section,

“depository financial institution” means any bank, savings and loan

association, savings bank, thrift company, credit union or other institution

which:

      (a) Holds or receives deposits, savings or share

accounts;

      (b) Issues certificates of deposit; or

      (c) Provides to its customers other depository

accounts which are subject to withdrawal by checks, drafts or other instruments

or by electronic means to effect payment to a third party.

      2.  The purposes of this section are to

help maintain the separation between depository financial institutions and the

business of real estate and to minimize the possibility of unfair competitive

activities by depository financial institutions against real estate brokers and

salespersons.

      3.  No depository financial institution or

its holding company, parent, subsidiary or affiliate may directly or indirectly

be licensed to sell real estate in this State.

      (Added to NRS by 1985, 1507)

      NRS 645.343  Educational requirements; regulations of Commission concerning

standards of education.

      1.  In addition to the other requirements

contained in this chapter, an applicant for an original real estate

salesperson’s license must furnish proof satisfactory to the Real Estate

Division that the applicant has successfully completed a course of instruction

in the principles, practices, procedures, law and ethics of real estate, which

course may be an extension or correspondence course offered by the Nevada

System of Higher Education, by any other accredited college or university or by

any other college or school approved by the Commission. The course of

instruction must include the subject of disclosure of required information in

real estate transactions, including instruction on methods a seller may use to

obtain the required information.

      2.  An applicant for an original real

estate broker’s or broker-salesperson’s license must furnish proof satisfactory

to the Real Estate Division that the applicant has successfully completed 45

semester units or the equivalent in quarter units of college level courses

which include:

      (a) Three semester units or an equivalent number

of quarter units in real estate law, including at least 18 classroom hours of

the real estate law of Nevada and another course of equal length in the

principles of real estate;

      (b) Nine semester units or the equivalent in

quarter units of college level courses in real estate appraisal and business or

economics;

      (c) Nine semester units or the equivalent in

quarter units of college level courses in real estate, business or economics;

and

      (d) Three semester units or an equivalent number

of quarter units in broker management.

      3.  On and after January 1, 1986, in

addition to other requirements contained in this chapter, an applicant for an

original real estate broker’s or broker-salesperson’s license must furnish

proof satisfactory to the Real Estate Division that the applicant has completed

64 semester units or the equivalent in quarter units of college level courses.

This educational requirement includes and is not in addition to the

requirements listed in subsection 2.

      4.  For the purposes of this section, each

person who holds a license as a real estate broker, broker-salesperson or

salesperson, or an equivalent license, issued by a state or territory of the

United States, or the District of Columbia, is entitled to receive credit for

the equivalent of 16 semester units of college level courses for each 2 years

of active experience that, during the immediately preceding 10 years, the

person has obtained while he or she has held such a license, not to exceed 8

years of active experience. This credit may not be applied against the

requirement in subsection 2 for three semester units or an equivalent number of

quarter units in broker management or 18 classroom hours of the real estate law

of Nevada.

      5.  An applicant for a broker’s license

pursuant to NRS 645.350 must meet the educational

prerequisites applicable on the date his or her application is received by the

Real Estate Division.

      6.  As used in this section, “college level

courses” are courses offered by any accredited college or university or by any

other institution which meet the standards of education established by the

Commission. The Commission may adopt regulations setting forth standards of

education which are equivalent to the college level courses outlined in this

subsection. The regulations may take into account the standard of instructors,

the scope and content of the instruction, hours of instruction and such other

criteria as the Commission requires.

      (Added to NRS by 1960, 155; A 1963, 667; 1969, 1448;

1973, 987, 1591; 1975, 794, 1544, 1639; 1977, 610; 1981, 1032; 1983, 228; 1993, 419; 1995, 505; 1999, 180; 2005, 1288)

      NRS 645.345  Regulations of Division concerning schools and courses of

instruction in principles and practice of real estate; standard of instruction.  The Division, with the approval of the

Commission, shall:

      1.  Adopt reasonable regulations defining

what constitutes:

      (a) A course of instruction in real estate

principles, practices, procedures, law and ethics, which course of instruction

must include the subjects upon which an applicant is examined in determining

his or her fitness to receive an original real estate salesperson’s license.

      (b) A school offering such a course.

      2.  Adopt regulations providing for the

establishment and maintenance of a uniform and reasonable standard of

instruction to be observed in and by such schools.

      (Added to NRS by 1960, 155; A 1969, 1448; 1975, 1545;

1981, 1034)

      NRS 645.350  Application: Form and contents.

      1.  An application for a license as a real

estate broker, broker-salesperson or salesperson must be submitted in writing

to the Division upon blanks prepared or furnished by the Division.

      2.  Every application for a real estate

broker’s, broker-salesperson’s or salesperson’s license must set forth the

following information:

      (a) The name, age and address of the applicant.

If the applicant is a partnership or an association which is applying to do

business as a real estate broker, the application must contain the name and

address of each member thereof. If the application is for a corporation which

is applying to do business as a real estate salesperson, real estate

broker-salesperson or real estate broker, the application must contain the name

and address of each officer and director thereof. If the applicant is a

limited-liability company which is applying to do business as a real estate

broker, the company’s articles of organization must designate a manager, and

the name and address of the manager and each member must be listed in the application.

      (b) In the case of a broker, the name under which

the business is to be conducted. The name is a fictitious name if it does not

contain the name of the applicant or the names of the members of the

applicant’s company, firm, partnership or association. Except as otherwise

provided in NRS 645.387, a license must not be

issued under a fictitious name which includes the name of a real estate

salesperson or broker-salesperson. A license must not be issued under the same

fictitious name to more than one licensee within the State. All licensees doing

business under a fictitious name shall comply with other pertinent statutory

regulations regarding the use of fictitious names.

      (c) In the case of a broker, the place or places,

including the street number, city and county, where the business is to be

conducted.

      (d) The business or occupation engaged in by the

applicant for at least 2 years immediately preceding the date of the application,

and the location thereof.

      (e) The time and place of the applicant’s

previous experience in the real estate business as a broker or salesperson.

      (f) Whether the applicant has ever been convicted

of or is under indictment for a felony or has entered a plea of guilty, guilty

but mentally ill or nolo contendere to a charge of felony and, if so, the

nature of the felony.

      (g) Whether the applicant has been convicted of

or entered a plea of nolo contendere to forgery, embezzlement, obtaining money

under false pretenses, larceny, extortion, conspiracy to defraud, engaging in

the business of selling real estate without a license or any crime involving

moral turpitude.

      (h) Whether the applicant has been refused a real

estate broker’s, broker-salesperson’s or salesperson’s license in any state, or

whether his or her license as a broker or salesperson has been revoked or

suspended by any other state, district or territory of the United States or any

other country.

      (i) If the applicant is a member of a limited-liability

company, partnership or association, or an officer of a corporation, the name

and address of the office of the limited-liability company, partnership,

association or corporation of which the applicant is a member or officer.

      (j) All information required to complete the

application.

      3.  An applicant for a license as a

broker-salesperson or salesperson shall provide a verified statement from the

broker with whom the applicant will be associated, expressing the intent of

that broker to associate the applicant with the broker and to be responsible

for the applicant’s activities as a licensee.

      4.  If a limited-liability company,

partnership or association is to do business as a real estate broker, the

application for a broker’s license must be verified by at least two members

thereof. If a corporation is to do business as a real estate broker, the

application must be verified by the president and the secretary thereof.

      [Part 9:150:1947; 1943 NCL § 6396.09]—(NRS A 1963,

668; 1967, 932; 1975, 1545; 1979, 1541; 1981, 514, 1608; 1983, 164; 1985, 1264; 1995, 2478; 1997, 167, 2166; 2003, 1500; 2005, 2774, 2807, 2815; 2007, 1474)

      NRS 645.355  Investigation of applicant’s background; fees; fingerprints.

      1.  Each applicant for a license as a real

estate broker, broker-salesperson or salesperson must pay a fee for the costs

of an investigation of the applicant’s background.

      2.  Each applicant must, as part of the

application and at his or her own expense:

      (a) Arrange to have a complete set of

fingerprints taken by a law enforcement agency or other authorized entity

acceptable to the Division; and

      (b) Submit to the Division:

             (1) A completed fingerprint card and

written permission authorizing the Division to submit the applicant’s

fingerprints to the Central Repository for Nevada Records of Criminal History

for submission to the Federal Bureau of Investigation for a report on the

applicant’s background and to such other law enforcement agencies as the

Division deems necessary; or

             (2) Written verification, on a form

prescribed by the Division, stating that the fingerprints of the applicant were

taken and directly forwarded electronically or by another means to the Central

Repository and that the applicant has given written permission to the law

enforcement agency or other authorized entity taking the fingerprints to submit

the fingerprints to the Central Repository for submission to the Federal Bureau

of Investigation for a report on the applicant’s background and to such other

law enforcement agencies as the Division deems necessary.

      3.  The Division may:

      (a) Unless the applicant’s fingerprints are

directly forwarded pursuant to subparagraph (2) of paragraph (b) of subsection

2, submit those fingerprints to the Central Repository for submission to the

Federal Bureau of Investigation and to such other law enforcement agencies as

the Division deems necessary; and

      (b) Request from each such agency any information

regarding the applicant’s background as the Division deems necessary.

      (Added to NRS by 1981, 1616; A 1983, 165; 2003, 1290, 2862; 2005, 1289)

      NRS 645.358  Payment of child support: Submission of certain information by

applicant; grounds for denial of license; duty of Division. [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.]

      1.  In addition to any other requirements

set forth in this chapter:

      (a) A natural person who applies for the issuance

of a license as a real estate broker, broker-salesperson or salesperson shall

include the social security number of the applicant in the application

submitted to the Division.

      (b) A natural person who applies for the issuance

or renewal of a license as a real estate broker, broker-salesperson or

salesperson shall submit to the Division the statement prescribed by the

Division of Welfare and Supportive Services of the Department of Health and

Human Services pursuant to NRS 425.520.

The statement must be completed and signed by the applicant.

      2.  The Division shall include the statement

required pursuant to subsection 1 in:

      (a) The application or any other forms that must

be submitted for the issuance or renewal of the license; or

      (b) A separate form prescribed by the Division.

      3.  A license as a real estate broker,

broker-salesperson or salesperson may not be issued or renewed by the Division

if the applicant is a natural person who:

      (a) Fails to submit the statement required

pursuant to subsection 1; or

      (b) Indicates on the statement submitted pursuant

to subsection 1 that the applicant is subject to a court order for the support

of a child and is not in compliance with the order or a plan approved by the

district attorney or other public agency enforcing the order for the repayment

of the amount owed pursuant to the order.

      4.  If an applicant indicates on the

statement submitted pursuant to subsection 1 that the applicant is subject to a

court order for the support of a child and is not in compliance with the order

or a plan approved by the district attorney or other public agency enforcing

the order for the repayment of the amount owed pursuant to the order, the

Division shall advise the applicant to contact the district attorney or other

public agency enforcing the order to determine the actions that the applicant

may take to satisfy the arrearage.

      (Added to NRS by 1997, 2163; A 2005, 2775, 2807)

      NRS 645.358  Payment of child support:

Submission of certain information by applicant; grounds for denial of license;

duty of Division. [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 and expires by

limitation 2 years after that date.]

      1.  In addition to any other requirements

set forth in this chapter, a natural person who applies for the issuance or

renewal of a license as a real estate broker, broker-salesperson or salesperson

shall submit to the Division the statement prescribed by the Division of

Welfare and Supportive Services of the Department of Health and Human Services

pursuant to NRS 425.520. The statement

must be completed and signed by the applicant.

      2.  The Division shall include the

statement required pursuant to subsection 1 in:

      (a) The application or any other forms that must

be submitted for the issuance or renewal of the license; or

      (b) A separate form prescribed by the Division.

      3.  A license as a real estate broker,

broker-salesperson or salesperson may not be issued or renewed by the Division

if the applicant is a natural person who:

      (a) Fails to submit the statement required

pursuant to subsection 1; or

      (b) Indicates on the statement submitted pursuant

to subsection 1 that the applicant is subject to a court order for the support

of a child and is not in compliance with the order or a plan approved by the

district attorney or other public agency enforcing the order for the repayment

of the amount owed pursuant to the order.

      4.  If an applicant indicates on the

statement submitted pursuant to subsection 1 that the applicant is subject to a

court order for the support of a child and is not in compliance with the order

or a plan approved by the district attorney or other public agency enforcing

the order for the repayment of the amount owed pursuant to the order, the

Division shall advise the applicant to contact the district attorney or other

public agency enforcing the order to determine the actions that the applicant

may take to satisfy the arrearage.

      (Added to NRS by 1997, 2163; A 2005, 2775, 2776, 2807,

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)

      NRS 645.370  Issuance of license to certain organizations doing business as

broker; restrictions.

      1.  Each limited-liability company doing

business as a real estate broker must designate its manager, each partnership

doing business as a real estate broker must designate one of its members, and

each corporation doing business as a real estate broker must designate one of

its officers, to submit an application for a broker’s license.

      2.  Upon such manager’s, member’s or

officer’s successfully passing the examination, and upon compliance with all

other requirements of law by the limited-liability company, partnership or

corporation, as well as by the designated manager, member or officer, the

Division shall issue a broker’s license to the manager, member or officer on

behalf of the limited-liability company, corporation or partnership, and

thereupon the manager, member or officer so designated is entitled to perform

all the acts of a real estate broker contemplated by this chapter; except:

      (a) That the license entitles the manager, member

or officer so designated to act as a real estate broker only as officer or

agent of the limited-liability company, partnership or corporation, and not on

his or her own behalf, except as otherwise provided in NRS

645.385; and

      (b) That if in any case the person so designated

is refused a license by the Real Estate Division, or in case the person ceases

to be connected with the limited-liability company, partnership or corporation,

the limited-liability company, partnership or corporation may designate another

person who must apply and qualify as in the first instance.

      [Part 9:150:1947; 1943 NCL § 6396.09]—(NRS A 1963,

669; 1975, 1547; 1979,

1543; 1985,

1265; 1997,

168)

      NRS 645.380  Issuance of license as broker required for certain members and

officers of certain organizations.  Each

member or officer of a limited-liability company, partnership or corporation

who will perform or engage in any of the acts specified in NRS 645.030, other than the manager, member or officer

designated for such purpose by the limited-liability company, partnership or

corporation in the manner provided in NRS 645.370,

must apply for and take out a separate broker’s license in his or her own name

individually. The license issued to any such member or officer of a

limited-liability company, partnership or corporation entitles the member or

officer to act as a real estate broker only as an officer or agent of the

limited-liability company, partnership or corporation and not on his or her own

behalf except as otherwise provided in NRS 645.385.

      [Part 9:150:1947; 1943 NCL § 6396.09]—(NRS A 1983, 165; 1985, 1266; 1997, 168)

      NRS 645.385  Waiver of requirements of NRS 645.370 and 645.380.  The Division may waive the requirements of NRS 645.370 and 645.380 by

adopting regulations authorizing real estate brokers to act on their own behalf

as well as on the behalf of a limited-liability company, corporation or

partnership.

      (Added to NRS by 1973, 1105; A 1975, 1547; 1985, 1266; 1997, 168)

      NRS 645.387  Issuance of license as broker-salesperson or salesperson to sole

shareholder of corporation on behalf of corporation or to manager of

limited-liability company on behalf of company; restrictions; duties;

expiration.

      1.  Any natural person who meets the

qualifications of a real estate broker-salesperson or salesperson and:

      (a) Except as otherwise provided in subsection 2,

is the sole shareholder of a corporation organized pursuant to the provisions

of chapter 89 of NRS; or

      (b) Is the manager of a limited-liability company

organized pursuant to the provisions of chapter

86 of NRS,

Ê may be

licensed on behalf of the corporation or limited-liability company for the

purpose of associating with a licensed real estate broker in the capacity of a

broker-salesperson or salesperson.

      2.  The spouse of the owner of the corporation

who has a community interest in any shares of the corporation shall not be

deemed a second shareholder of the corporation for the purposes of paragraph

(a) of subsection 1, if the spouse does not vote any of those shares.

      3.  A license issued pursuant to this

section entitles only the sole shareholder of the corporation or the manager of

the limited-liability company to act as a broker-salesperson or salesperson,

and only as an officer or agent of the corporation or limited-liability company

and not on his or her own behalf. The licensee shall not do or deal in any act,

acts or transactions included within the definition of a real estate broker in NRS 645.030, except as that activity is permitted

pursuant to this chapter to licensed broker-salespersons and salespersons.

      4.  The corporation or limited-liability

company shall, within 30 days after a license is issued on its behalf pursuant

to this section and within 30 days after any change in its ownership, file an

affidavit with the Division stating:

      (a) For a corporation, the number of issued and

outstanding shares of the corporation and the names of all persons to whom the

shares have been issued.

      (b) For a limited-liability company, the names of

members who have an interest in the company.

      5.  A license issued pursuant to this

section automatically expires upon:

      (a) The death of the licensed shareholder in the

corporation or the manager of the limited-liability company.

      (b) The issuance of shares in the corporation to

more than one person other than the spouse.

      6.  Nothing in this section alters any of

the rights, duties or liabilities which otherwise arise in the legal

relationship between a real estate broker, broker-salesperson or salesperson

and a person who deals with him or her.

      (Added to NRS by 1981, 513; A 1997, 169)

      NRS 645.400  Additional information concerning applicants may be required by

Division; regulations concerning applications.

      1.  In addition to the information required

by this chapter, applications for brokers’ or salespersons’ licenses must

contain such other information pertaining to the applicants as the Division may

require.

      2.  The Division may require such other

proof through the application or otherwise, with due regard to the paramount

interests of the public as to the honesty, truthfulness, integrity and

competency of the applicant.

      3.  The Commission may adopt regulations

connected with the application for any examination and license.

      [Part 13:150:1947; A 1949, 433; 1943 NCL §

6396.13]—(NRS A 1979,

1543; 1981,

1609)

      NRS 645.410  Regulations concerning fees for examination; time for payment of

fees.

      1.  The Commission shall adopt regulations

establishing the fee for an examination for a license as a real estate broker,

broker-salesperson or salesperson and all other fees necessary for the

administration of the examination.

      2.  Every application for examination for a

license as a real estate broker, broker-salesperson or salesperson under the

provisions of this chapter must be accompanied by the applicable fees

established pursuant to subsection 1. The applicant must pay the original

license fee and the fee for the Real Estate Education, Research and Recovery

Fund at the time he or she files an application for a license.

      [11:150:1947; 1943 NCL § 6396.11]—(NRS A 1963, 670;

1973, 1102; 1975, 795; 1979, 1543; 1981, 1609; 1985, 1266; 1995, 162)

      NRS 645.420  Action on application by Division; additional investigation;

invalidation of license for certain errors in issuance.

      1.  The Division shall notify each

applicant in writing whether the applicant passed or failed the examination.

      2.  The Division shall act upon all

applications for licenses as real estate brokers, broker-salespersons or real

estate salespersons within 60 days from the date of receiving the completed

application for a license.

      3.  If in the opinion of the Real Estate

Division additional investigation of the applicant appears necessary, the Real

Estate Division may extend the 60-day period and may make such additional

investigation as is necessary or desirable before acting on the applicant’s

application.

      4.  The burden of proof is on the applicant

to establish to the satisfaction of the Real Estate Division that he or she is

qualified to receive a license.

      5.  Passing the examination creates no

vested right in the applicant to hold a license pending an appeal of a denial

of his or her licensing by the Division.

      6.  The Division, upon the discovery of any

error in the issuance of a license which is related to the qualification or

fitness of the licensee, may invalidate the license. The Division shall

promptly notify the licensee, in writing, of the invalidation and the licensee

shall surrender the license to the Division within 20 days after notice is sent

by the Division. A licensee whose license is invalidated under this subsection

and is surrendered within the time specified is entitled to a hearing as for a

denial of application in accordance with the provisions of NRS 645.440.

      [Part 13:150:1947; A 1949, 433; 1943 NCL §

6396.13]—(NRS A 1963, 670; 1973, 1102; 1975, 796; 1977, 611; 1981, 1329, 1609)

      NRS 645.430  Restrictions on reapplication after applicant denied license on

ground other than failure of examination.  If

an applicant shall have been denied a license except for failure to pass an

examination, the applicant shall not be permitted to reapply until the Real

Estate Division shall, in its discretion, upon petition of the applicant, grant

leave to file such reapplication.

      [Part 13:150:1947; A 1949, 433; 1943 NCL §

6396.13]—(NRS A 1963, 670)

      NRS 645.440  Denial of application: Notice; hearing; written decision; false

statement ground for denial.

      1.  If the Division, after an application

for a license in proper form has been filed with it, accompanied by the proper

fee, denies an application, the Division shall give notice of the denial to the

applicant within 15 days after its ruling, order or decision.

      2.  Upon written request from the

applicant, filed within 30 days after receipt of that notice by the applicant,

the President of the Commission shall set the matter for a hearing to be

conducted at the next meeting of the Commission held pursuant to NRS 645.150 after receipt of the applicant’s request

if the request is received at least 20 days before the meeting and contains

allegations which, if true, qualify the applicant for a license.

      3.  The hearing must be held at such time

and place as the Commission prescribes. At least 15 days before the date set

for the hearing, the Division shall notify the applicant and shall accompany

the notification with an exact copy of any protest filed, together with copies

of all communications, reports, affidavits or depositions in the possession of

the Division relevant to the matter in question. Written notice of the hearing

may be served by delivery personally to the applicant, or by mailing it by certified

mail to the last known address of the applicant.

      4.  The hearing may be held by the

Commission or by a majority of its members, and a hearing must be held, if the

applicant so desires. A record of the proceedings, or any part thereof, must be

made available to each party upon the payment to the Division of the reasonable

cost of transcription.

      5.  The Commission shall render a written

decision on any appeal within 60 days after the final hearing and shall notify

the parties to the proceedings, in writing, of its ruling, order or decision

within 15 days after it is made.

      6.  If an applicant has made a false

statement of material fact on his or her application, the false statement may

in itself be sufficient ground for refusal of a license.

      [Part 15:150:1947; A 1955, 80]—(NRS A 1959, 395;

1963, 670; 1969, 95; 1971, 452; 1975, 1548; 1977, 92; 1979, 1544; 1981, 1610; 1985, 1267; 1999, 181; 2007, 1540)

      NRS 645.450  Time for examinations.  Examination

for licenses shall be held by the Real Estate Division at least bimonthly.

      [Part 14:150:1947; A 1949, 433; 1943 NCL §

6396.14]—(NRS A 1963, 1074; 1973, 1102; 1975, 1549)

      NRS 645.460  Examination: Subjects covered; acceptance of national

examination.

      1.  The Division shall ascertain by written

examination that the applicant has an appropriate knowledge and understanding

of those subjects which commonly and customarily apply to the real estate

business.

      2.  The Division may hire a professional

testing organization to create, administer or score the written examination or

perform all of those functions.

      3.  The Division may accept successful

completion of the uniform portion of a national real estate examination in

partial satisfaction of the requirements of the examination in Nevada.

      [Part 14:150:1947; A 1949, 433; 1943 NCL §

6396.14]—(NRS A 1963, 1074; 1973, 1103; 1979, 1545; 1981, 1611)

      NRS 645.475  Examination for license as broker may be taken before meeting

requirements for experience; issuance of license as broker-salesperson upon

passing examination; application and experience required for issuance of

license as broker.

      1.  An applicant for a real estate broker’s

license may take the written examination before the applicant has complied with

the experience requirements of subsection 4 of NRS

645.330, but the Division shall not approve the issuance of a broker’s

license until all the requirements of this chapter are met.

      2.  An applicant, pursuant to subsection 1,

who passes the broker’s examination must be issued a broker-salesperson’s

license. The applicant may be issued a broker’s license upon:

      (a) Making proper application to the Division;

and

      (b) Satisfying the experience requirements of

subsection 4 of NRS 645.330.

      (Added to NRS by 1975, 793; A 1979, 1545; 1981, 1611; 1995, 994)

      NRS 645.490  Issuance of license; duty of Real Estate Division; renewal of

license.

      1.  Upon satisfactorily passing the written

examination and upon complying with all other provisions of law and conditions

of this chapter, a license shall thereupon be granted by the Division to the

successful applicant therefor as a real estate broker, broker-salesperson or

salesperson, and the applicant, upon receiving the license, may conduct the

business of a real estate broker, broker-salesperson or salesperson in this

State.

      2.  The Division shall issue licenses as a

real estate broker, broker-salesperson or salesperson to all applicants who

qualify and comply with all provisions of law and all requirements of this

chapter.

      3.  Except as otherwise provided in NRS 645.785:

      (a) An original license as a real estate broker,

broker-salesperson or salesperson must be renewed with the Division before the

expiration of the initial license period of 24 consecutive months as prescribed

in NRS 645.780; and

      (b) Thereafter, the license must be renewed with

the Division before the expiration of each subsequent license period of 48

consecutive months as prescribed in NRS 645.780.

      [Part 14:150:1947; A 1949, 433; 1943 NCL § 6396.14] +

[Part 15:150:1947; A 1955, 80]—(NRS A 1963, 672; 1979, 1545; 2001, 2893; 2003, 1291; 2009, 1938)

      NRS 645.495  Nonresident licensee to authorize service of process upon

Administrator.

      1.  No license may be issued pursuant to NRS 645.490 to a resident of a state other than Nevada

until the applicant has appointed in writing the Administrator to be his or her

agent, upon whom all process, in any action or proceeding against the

applicant, may be served. In this writing the applicant must agree that any

process against him or her which is served on the Administrator is of the same

legal validity as if it had been served on the applicant and state that the

appointment continues in force as long as any liability remains outstanding

against the applicant in this State. It must contain a stipulation agreeing to

venue in any judicial or administrative district in this State without regard

to the location of the licensee’s principal place of business. The written

appointment must be acknowledged before an officer authorized to take

acknowledgments of deeds and must be filed in the office of the Administrator.

A copy of the appointment which is certified by the Administrator is sufficient

evidence of the appointment and agreement.

      2.  When any process is served upon the

Administrator under this section, the Administrator shall mail the process by

certified mail to the last known address of the licensee. Service is complete

upon such mailing. The manner of serving process described in this subsection

does not affect the validity of any other service authorized by law.

      (Added to NRS by 1987, 516)

      NRS 645.510  Authority of license limited to person or place of business

licensed.  No real estate license

issued under the provisions of this chapter shall give authority to do or

perform any act specified in this chapter to any person other than the person

to whom the license is issued, or from any place of business other than that

specified therein.

      [16:150:1947; 1943 NCL § 6396.16]

      NRS 645.520  Form and contents; limitation on association with or employment

of broker-salesperson or salesperson.

      1.  The Division shall issue to each

licensee a license in such form and size as is prescribed by the Division.

      2.  Each license must:

      (a) Show the name and address of the licensee,

and in case of a real estate broker-salesperson’s or salesperson’s license show

the name of the real estate broker with whom he or she will be associated.

      (b) Have imprinted thereon the seal of the

Division.

      (c) Contain any additional matter prescribed by

the Division.

      3.  No real estate broker-salesperson or

salesperson may be associated with or employed by more than one broker or

owner-developer at the same time.

      [Part 17:150:1947; A 1949, 433; 1955, 77]—(NRS A

1963, 673; 1975, 1549; 1979, 1546)

      NRS 645.530  Delivery; display.

      1.  The license of each real estate

broker-salesperson or salesperson must be delivered or mailed to the real

estate broker with whom the licensee is associated or to the owner-developer by

whom the licensee is employed and must be kept in the custody and control of

the broker or owner-developer.

      2.  Each real estate broker shall:

      (a) Display his or her license conspicuously in

the broker’s place of business. If a real estate broker maintains more than one

place of business within the State, an additional license must be issued to the

broker for each branch office so maintained by the broker, and the additional

license must be displayed conspicuously in each branch office.

      (b) Prominently display in his or her place of

business the licenses of all real estate broker-salespersons and salespersons

associated with him or her therein or in connection therewith.

      3.  Each owner-developer shall prominently

display in his or her place of business the license of each real estate broker-salesperson

and salesperson employed by him or her.

      [Part 17:150:1947; A 1949, 433; 1955, 77]—(NRS A

1975, 1549, 1641; 1979, 1546; 1981, 1034)

      NRS 645.550  Broker to maintain place of business; business must be done from

location designated in license; licensing of broker or owner-developer by

county, city or town.

      1.  Every real estate broker shall have and

maintain a definite place of business within the State, which must be a room or

rooms used for the transaction of real estate business, or such business and

any allied businesses, and which must serve as the office for the transaction

of business under the authority of the license, and where the license must be

prominently displayed.

      2.  The place of business must be specified

in the application for license and designated in the license.

      3.  No license authorizes the licensee to

transact business from any office other than that designated in the license.

      4.  Each city, town or county may require a

license for revenue purposes for a licensed real estate broker or

owner-developer who maintains an office within the city or town, or within the

county outside the cities and towns of the county, respectively.

      [Part 17:150:1947; A 1949, 433; 1955, 77]—(NRS A

1969, 893; 1973, 84; 1979, 1547)

      NRS 645.560  Broker: Erection, maintenance, size and placement of signs.

      1.  Each licensed real estate broker shall

erect and maintain a sign in a conspicuous place upon the premises of his or

her place of business. The name of the broker or the name under which the

broker conducts his or her business set forth in the license must be clearly

shown thereon.

      2.  The size and place of the sign must

conform to regulations adopted by the Commission.

      3.  Similar signs must also be erected and

maintained in a conspicuous place at all branch offices.

      [18:150:1947; 1943 NCL § 6396.18]—(NRS A 1979, 1547; 1989, 1610)

      NRS 645.570  Notice of change of name, location of business or association;

requirements for transfer of association; effect of failure to give notice.

      1.  Notice in writing must be given by the

broker or a corporate officer to the Division within 10 days of any change of

name or business location of any licensee or of a change of association of any

broker-salesperson or salesperson licensee. Upon the surrender of the license

previously issued and the payment of the fee required by law the Division shall

issue the license for the unexpired term.

      2.  Upon the transfer of association of any

broker-salesperson or salesperson licensee, application accompanied by the fee

required by law must be made to the Division for the reissuance of the license

to the broker-salesperson or salesperson for the unexpired term. Such a

transfer may only be into an association with a licensed broker or registered

owner-developer who must certify to the honesty, truthfulness and good

reputation of the transferee.

      3.  Failure to give notice as required by

this section constitutes cause for the revocation of any outstanding license or

involuntary inactivation of the license.

      [Part 17:150:1947; A 1949, 433; 1955, 77]—(NRS A

1963, 673; 1975, 1550, 1641; 1979, 1547; 1983, 166)

      NRS 645.575  Continuing education: Standards; renewal or reinstatement of

license.

      1.  The Commission shall adopt regulations

that prescribe the standards for the continuing education of persons licensed

pursuant to this chapter.

      2.  The standards adopted pursuant to

subsection 1 must permit alternatives of subject material, taking cognizance of

specialized areas of practice and alternatives in sources of programs

considering availability in area and time. The standards must include, where

qualified, generally accredited educational institutions, private vocational

schools, educational programs and seminars of professional societies and

organizations, other organized educational programs on technical subjects, or

equivalent offerings. The Commission shall qualify only those educational

courses that it determines address the appropriate subject matter and are given

by an accredited university or community college. Subject to the provisions of

this section, the Commission has exclusive authority to determine what is an

appropriate subject matter for qualification as a continuing education course.

      3.  In addition to any other standards for

continuing education that the Commission adopts by regulation pursuant to this

section, the Commission may, without limitation, adopt by regulation standards

for continuing education that:

      (a) Establish a postlicensing curriculum of

continuing education which must be completed by a person within the first year

immediately after initial licensing of the person.

      (b) Require a person whose license as a real

estate broker or real estate broker-salesperson has been placed on inactive

status for any reason for 1 year or more or has been suspended or revoked to

complete a course of instruction in broker management that is designed to

fulfill the educational requirements for issuance of a license which are

described in paragraph (d) of subsection 2 of NRS

645.343, before the person’s license is reissued or reinstated.

      4.  Except as otherwise provided in this

subsection, the license of a real estate broker, broker-salesperson or

salesperson must not be renewed or reinstated unless the Administrator finds

that the applicant for the renewal license or for reinstatement to active

status has completed the continuing education required by this chapter. Any

amendment or repeal of a regulation does not operate to prevent an applicant

from complying with this section for the next licensing period following the

amendment or repeal.

      (Added to NRS by 1977, 1315; A 1979, 662; 1985, 1508; 1989, 1610; 1995, 162; 1997, 219; 2001, 2894; 2003, 1291; 2007, 1540)

      NRS 645.577  Placement of license on inactive status; reinstatement.

      1.  The Division may place a license on

inactive status for any of the following reasons:

      (a) At the request of the licensee.

      (b) If a broker’s license or a corporate

officer’s license, for failure to immediately notify the Division in writing of

any change in the name of the licensee’s firm or its business location.

      (c) If a broker-salesperson’s license or a

salesperson’s license, for failure to notify the Division of a change in the

broker or owner-developer with whom the licensee will be associated within 30

days after the licensee’s previous association was terminated.

      (d) For failure to apply and pay the fee for

renewal before the license expired.

      (e) If inactivated upon the placing of the broker

under whose supervision the licensee worked in an inactive status.

      (f) As a result of a formal disciplinary

proceeding.

      2.  Any licensee whose license has been

placed on inactive status may not engage in the business of a real estate

broker, broker-salesperson or salesperson until the licensee has met all of the

requirements for reinstatement of his or her license to active status.

      (Added to NRS by 1979, 1532; A 1985, 1267)

      NRS 645.580  Termination of association or employment of broker-salesperson

or salesperson; duties of broker or owner-developer and broker-salesperson or

salesperson; transfer of license or new license.

      1.  When any real estate broker-salesperson

or salesperson terminates, for any reason, his or her association with the real

estate broker with whom he or she was associated, or his or her employment with

the owner-developer by whom he or she was employed, the real estate broker or

owner-developer shall:

      (a) Deliver or mail by certified mail to the

Division the real estate broker-salesperson’s or salesperson’s license,

together with a written statement of the circumstances surrounding the

termination of the association or the employment, within 10 days after the

termination occurs.

      (b) At the time of delivering or mailing the

license to the Division, address a communication to the last known residence

address of the broker-salesperson or salesperson, advising him or her that the

license has been delivered or mailed to the Division. A copy of the

communication must accompany the license when delivered or mailed to the

Division.

      2.  A broker-salesperson or salesperson

must, within 30 days after termination of that association, become associated

with or employed by another broker or owner-developer or request that the

license be placed on inactive status.

      3.  It is unlawful for any real estate

salesperson to perform any of the acts contemplated by this chapter, either

directly or indirectly, under authority of the license on or after the date of

receipt of the license from the broker or owner-developer by the Division and

until the license is transferred or reissued or a new license is issued.

      [Part 17:150:1947; A 1949, 433; 1955, 77]—(NRS A

1963, 674; 1969, 95; 1975, 1550, 1641; 1979, 1548; 1981, 1034; 1989, 1611)

      NRS 645.590  Termination of association by broker with limited-liability

company, partnership or corporation; new license.  If

any real estate broker licensed pursuant to the provisions of this chapter as a

manager of a limited-liability company, member of a partnership, or as an

officer of a corporation, discontinues his or her connections with the

limited-liability company, partnership or corporation, and thereafter desires

to act as an individual real estate broker, or become associated with any other

limited-liability company, partnership or corporation, the broker must file an

application and pay a transfer fee of $20 for a new license as an individual broker,

as the manager of the new limited-liability company, or as a member of the new

partnership or association, or as an officer of the new corporation. The

payment of such a fee does not extend or otherwise alter the original license

period.

      [Part 17:150:1947; A 1949, 433; 1955, 77]—(NRS A

1973, 1103; 1985,

1268; 1997,

169)

      NRS 645.600  Inactive status for period of military service; reinstatement.

      1.  Any licensee under the provisions of

this chapter who shall be 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, providing the provisions of subsection 1 are

complied with, the licensee may be reinstated, without examination, to active

status in the appropriate classification which the licensee left upon entry

into the military service, without having to meet any qualification or

requirement other than the payment of the reinstatement fee, as provided in NRS 645.830, and the licensee shall not be required to

make payment of the license fee for the current year.

      3.  Any licensee seeking to qualify for

reinstatement, as provided in subsections 1 and 2, shall present a certified

copy of his or her honorable discharge or certificate of satisfactory service

to the Real Estate Division.

      [33.5:150:1947; added 1955, 18]—(NRS A 1963, 674)

      NRS 645.605  Certificate authorizing out-of-state licensed broker to

cooperate with broker in Nevada: Issuance; fee; regulations.  The Administrator shall have authority to

issue certificates authorizing out-of-state licensed brokers to cooperate with

Nevada brokers, and the Commission shall have authority to promulgate rules and

regulations establishing the conditions under which such certificates shall be

issued and cancelled, all subject to the provisions and penalties of this

chapter. The Real Estate Division shall charge a fee for the issuance of such

certificate as provided in NRS 645.830.

      (Added to NRS by 1965, 1407)

      NRS 645.6051  Broker to maintain record of work performed on residential

property; contents of record.

      1.  A person licensed pursuant to this

chapter as a real estate broker, real estate broker-salesperson or real estate

salesperson shall maintain a record of all work performed on a residential

property that the person assists a client in scheduling pursuant to subsection

11 of NRS 624.031.

      2.  The record required by subsection 1

must include, without limitation:

      (a) The name of any person licensed pursuant to chapter 624 of NRS who performs such work;

      (b) The date on which the work was performed;

      (c) A copy of any written contract to perform the

work; and

      (d) A copy of any invoice prepared in connection

with the work.

      3.  As used in this section, “residential

property” has the meaning ascribed to it in NRS

624.031.

      (Added to NRS by 2013, 580)

PROPERTY MANAGERS

      NRS 645.6052  Permit to engage in property management: Persons eligible;

requirements; instruction; expiration; renewal; regulations.

      1.  A person who is licensed pursuant to

this chapter as a real estate broker, real estate broker-salesperson or real

estate salesperson may apply to the Real Estate Division for a permit to engage

in property management.

      2.  An applicant for a permit must:

      (a) Furnish proof satisfactory to the Division

that the applicant has successfully completed at least 24 classroom hours of

instruction in property management; and

      (b) Comply with all other requirements

established by the Commission for the issuance of a permit.

      3.  A permit expires, and may be renewed,

at the same time as the license of the holder of the permit.

      4.  An applicant for the renewal of a

permit must:

      (a) Furnish proof satisfactory to the Division

that the applicant has successfully completed at least 3 of the hours of the

continuing education required for the renewal of his or her license pursuant to

the regulations adopted by the Commission pursuant to NRS

645.575 in an approved educational course, seminar or conference concerning

property management; and

      (b) Comply with all other requirements

established by the Commission for the renewal of a permit.

      5.  The Commission may adopt such

regulations as it determines are necessary to carry out the provisions of this

section. The regulations may, without limitation:

      (a) Establish additional requirements for the

issuance or renewal of a permit.

      (b) Establish fees for the issuance and renewal

of a permit and fees to pay the costs of:

             (1) Any examination for a permit,

including any costs which are necessary for the administration of such an

examination.

             (2) Any investigation of an applicant’s

background.

      (c) Set forth standards of education for the

approval of a course of instruction to qualify an applicant for a permit.

      (Added to NRS by 1997, 954; A 2003, 1292; 2007, 1542)

      NRS 645.6054  Permit to engage in property management: Requirements for

certain organizations.

      1.  To engage in the business of property

management in this State:

      (a) A partnership shall designate one of its

members;

      (b) A corporation shall designate one of its

officers or employees;

      (c) A limited-liability company shall designate

its manager; and

      (d) A broker who conducts business as a sole

proprietor shall designate a person who is licensed under the broker,

Ê to submit an

application for a permit to engage in property management. The partnership,

corporation, limited-liability company or sole proprietor shall not engage in

the business of property management unless the person so designated has been

issued a permit to engage in property management by the Real Estate Division.

      2.  If the person designated to apply for a

permit pursuant to subsection 1 meets the qualifications for a permit set forth

in NRS 645.6052, the Division shall issue to that

person a permit to engage in property management on behalf of the partnership,

corporation, limited-liability company or sole proprietor, and thereupon the

person may perform all the acts of a property manager contemplated by this

chapter.

      3.  A person to whom a permit has been

issued pursuant to this section may act as a property manager pursuant to the

permit only on behalf of the partnership, corporation, limited-liability

company or sole proprietor, and not on his or her own behalf. If that person

ceases to be connected or associated with the partnership, corporation,

limited-liability company or sole proprietor, the partnership, corporation,

limited-liability company or sole proprietor shall designate another person who

meets the qualifications for a permit set forth in NRS

645.6052 to hold the permit on behalf of the partnership, corporation,

limited-liability company or sole proprietor.

      4.  Any member, officer or employee of a

partnership, corporation or limited-liability company, other than the person

designated as the property manager pursuant to subsection 1, who wishes to

engage in the business of property management must apply in his or her own name

individually for a separate permit to engage in property management. Pursuant

to such a permit, the member, officer or employee of a partnership, corporation

or limited-liability company may act as a property manager only as an officer

or agent of the partnership, corporation or limited-liability company, and not

on his or her own behalf.

      (Added to NRS by 1997, 955)

      NRS 645.6055  Designated property managers: Requirements; qualifications;

duties.

      1.  If a real estate broker does not hold a

permit to engage in property management but intends to have property management

activities conducted at an office, the real estate broker must:

      (a) Appoint a person, who has the qualifications

required by this section, as the designated property manager for the office to

supervise the property management activities conducted at the office; and

      (b) Submit notice of the appointment to the

Division.

      2.  The designated property manager for an

office must be a natural person who:

      (a) Holds a license as a real estate broker or

real estate broker-salesperson;

      (b) Holds a permit to engage in property

management; and

      (c) Has 2 years active experience, within the 4

years immediately preceding the date of the appointment, in conducting property

management activities in the United States as a licensed real estate broker,

real estate broker-salesperson or real estate salesperson.

      3.  While acting as the designated property

manager for an office, the person:

      (a) Must comply with the provisions of NRS 645.6052 to 645.6058,

inclusive, and all other applicable provisions of this chapter; and

      (b) Is subject to all the remedies and penalties

provided for in this chapter.

      (Added to NRS by 2003, 1287)

      NRS 645.6056  Property management agreements: Requirements; contents.

      1.  A real estate broker who holds a permit

to engage in property management shall not act as a property manager unless the

broker has first obtained a property management agreement signed by the broker

and the client for whom the broker will manage the property.

      2.  A property management agreement must

include, without limitation:

      (a) The term of the agreement and, if the

agreement is subject to renewal, provisions clearly setting forth the

circumstances under which the agreement may be renewed and the term of each

such renewal;

      (b) A provision for the retention and disposition

of deposits of the tenants of the property during the term of the agreement

and, if the agreement is subject to renewal, during the term of each such

renewal;

      (c) The fee or compensation to be paid to the

broker;

      (d) The extent to which the broker may act as the

agent of the client;

      (e) If the agreement is subject to cancellation,

provisions clearly setting forth the circumstances under which the agreement

may be cancelled. The agreement may authorize the broker or the client, or

both, to cancel the agreement with cause or without cause, or both, under the

circumstances set forth in the agreement; and

      (f) If the broker intends to provide asset

management services for the client, a provision indicating the extent to which

the broker will provide those services. As used in this paragraph, “client” has

the meaning ascribed to it in NRS

645H.060.

      (Added to NRS by 1997, 955; A 2003, 932; 2011, 2832)

      NRS 645.6058  Disposition of fees, penalties and fines received by Division;

delegation of authority of Division to hearing officer or panel.

      1.  Except as otherwise provided in

subsection 3, all fees, penalties and fines received by the Division pursuant

to the provisions of NRS 645.6052 to 645.6058, inclusive, must be deposited with the State

Treasurer for credit to the Division. The money must be used by the Division

for the administration of the provisions of NRS

645.6052 to 645.6058, inclusive.

      2.  The Division may delegate to a hearing

officer or panel its authority to take any disciplinary action against property

managers, impose and collect fines pursuant to the disciplinary action and

deposit the money with the State Treasurer for credit to the Division.

      3.  If a hearing officer or panel is not

authorized to take disciplinary action pursuant to subsection 2, the Division

shall deposit the money collected from the imposition of penalties and fines

collected from property managers with the State Treasurer for credit to the

State General Fund. The Division may present a claim to the State Board of

Examiners for recommendation to the Interim Finance Committee if money is

needed to pay an attorney’s fee or the costs of an investigation, or both.

      (Added to NRS by 1997, 956; A 2003, 1293)

DISCIPLINARY ACTION

      NRS 645.610  Investigation of actions of licensees and other persons.  The Administrator may investigate the actions

of any real estate broker, broker-salesperson, salesperson, owner-developer or

any person who acts in any such capacity within this State.

      [Part 20:150:1947; 1943 NCL § 6396.20]—(NRS A 1963,

675; 1975, 1551; 1979,

1548)

      NRS 645.620  Maintenance by Division of record of complaints, investigations

and denials of applications.  The

Division shall maintain in each district office a public docket or other record

in which it shall record from time to time as made:

      1.  The rulings or decisions upon all

complaints filed with that district office.

      2.  All investigations instituted by that

district office in the first instance, upon or in connection with which any

hearing has been held, or in which the licensee charged has made no defense.

      3.  Denials of applications made to that

district office for examination or licensing.

      [Part 23:150:1947; 1943 NCL § 6396.23]—(NRS A 1963,

675; 1979, 1548;

1995, 163)

      NRS 645.625  Certain records relating to investigation deemed confidential;

certain records relating to disciplinary action deemed public records.

      1.  Except as otherwise provided in this

section and NRS 239.0115, a complaint

filed with the Division alleging a violation of this chapter, all documents and

other information filed with the complaint and all documents and other

information compiled as a result of an investigation conducted to determine

whether to initiate disciplinary action are confidential and may be disclosed

in whole or in part only as necessary in the course of administering this

chapter or to a licensing board or agency or any other governmental agency,

including, without limitation, a law enforcement agency, that is investigating

a person who holds a license, permit or registration issued pursuant to this chapter.

      2.  A complaint or other document filed

with the Commission to initiate disciplinary action and all documents and

information considered by the Commission when determining whether to impose

discipline are public records.

      (Added to NRS by 2003, 3464; A 2005, 1292; 2007, 1542, 2147)

      NRS 645.630  Authorized disciplinary action; grounds for disciplinary action;

orders imposing discipline deemed public records.

      1.  The Commission may require a licensee,

property manager or owner-developer to pay an administrative fine of not more

than $10,000 for each violation he or she commits or suspend, revoke, deny the

renewal of or place conditions upon his or her license, permit or registration,

or impose any combination of those actions, at any time if the licensee,

property manager or owner-developer has, by false or fraudulent representation,

obtained a license, permit or registration, or the licensee, property manager

or owner-developer, whether or not acting as such, is found guilty of:

      (a) Making any material misrepresentation.

      (b) Making any false promises of a character

likely to influence, persuade or induce.

      (c) Accepting a commission or valuable

consideration as a real estate broker-salesperson or salesperson for the

performance of any of the acts specified in this chapter or chapter 119 or 119A

of NRS from any person except the licensed real estate broker with whom he or

she is associated or the owner-developer by whom he or she is employed.

      (d) Representing or attempting to represent a

real estate broker other than the broker with whom he or she is associated,

without the express knowledge and consent of the broker with whom he or she is

associated.

      (e) Failing to maintain, for review and audit by

the Division, each brokerage agreement and property management agreement

governed by the provisions of this chapter and entered into by the licensee.

      (f) Failing, within a reasonable time, to account

for or to remit any money which comes into his or her possession and which

belongs to others.

      (g) If he or she is required to maintain a trust

account:

             (1) Failing to balance the trust account

at least monthly; and

             (2) Failing to submit to the Division an

annual accounting of the trust account as required in NRS

645.310.

      (h) Commingling the money or other property of

his or her clients with his or her own or converting the money of others to his

or her own use.

      (i) In the case of a broker-salesperson or

salesperson, failing to place in the custody of his or her licensed broker or

owner-developer, as soon as possible, any deposit or other money or

consideration entrusted to him or her by any person dealing with him or her as

the representative of his or her licensed broker.

      (j) Accepting other than cash as earnest money

unless that fact is communicated to the owner before his or her acceptance of

the offer to purchase and that fact is shown in the receipt for the earnest

money.

      (k) Upon acceptance of an agreement, in the case

of a broker, failing to deposit any check or cash received as earnest money

before the end of the next banking day unless otherwise provided in the

purchase agreement.

      (l) Inducing any party to a brokerage agreement,

property management agreement, agreement of sale or lease to break it in order

to substitute a new brokerage agreement, property management agreement,

agreement of sale or lease with the same or another party if the inducement to

make the substitution is offered to secure personal gain to the licensee or

owner-developer.

      2.  An order that imposes discipline and

the findings of fact and conclusions of law supporting that order are public

records.

      [Part 20:150:1947; 1943 NCL § 6396.20]—(NRS A 1957,

338; 1963, 332; 1965, 1407; 1971, 248; 1975, 1551; 1979, 1549; 1981, 1612; 1983, 222; 1985, 1268; 1993, 890; 1995, 2076; 1997, 959; 2001, 522; 2003, 933, 3464, 3482; 2007, 1543)

      NRS 645.633  Additional grounds for disciplinary action: Improper trade

practices; violations of certain orders, agreements, laws and regulations;

criminal offenses; other unprofessional and improper conduct; reciprocal

discipline; violations relating to property management; log of complaints;

reports.

      1.  The Commission may take action pursuant

to NRS 645.630 against any person subject to that

section who is guilty of any of the following acts:

      (a) Willfully using any trade name, service mark

or insigne of membership in any real estate organization of which the licensee

is not a member, without the legal right to do so.

      (b) Violating any order of the Commission, any

agreement with the Division, any of the provisions of this chapter, chapter 116, 119,

119A, 119B,

645A or 645C

of NRS or any regulation adopted pursuant thereto.

      (c) Paying a commission, compensation or a

finder’s fee to any person for performing the services of a broker,

broker-salesperson or salesperson who has not secured a license pursuant to

this chapter. This subsection does not apply to payments to a broker who is

licensed in his or her state of residence.

      (d) A conviction of, or the entry of a plea of

guilty, guilty but mentally ill or nolo contendere to:

             (1) A felony relating to the practice of

the licensee, property manager or owner-developer; or

             (2) Any crime involving fraud, deceit,

misrepresentation or moral turpitude.

      (e) Guaranteeing, or having authorized or

permitted any person to guarantee, future profits which may result from the

resale of real property.

      (f) Failure to include a fixed date of expiration

in any written brokerage agreement or failure to leave a copy of such a

brokerage agreement or any property management agreement with the client.

      (g) Accepting, giving or charging any undisclosed

commission, rebate or direct profit on expenditures made for a client.

      (h) Gross negligence or incompetence in

performing any act for which the person is required to hold a license pursuant

to this chapter, chapter 119, 119A or 119B

of NRS.

      (i) Any other conduct which constitutes

deceitful, fraudulent or dishonest dealing.

      (j) Any conduct which took place before the

person became licensed which was in fact unknown to the Division and which

would have been grounds for denial of a license had the Division been aware of

the conduct.

      (k) Knowingly permitting any person whose license

has been revoked or suspended to act as a real estate broker,

broker-salesperson or salesperson, with or on behalf of the licensee.

      (l) Recording or causing to be recorded a claim

pursuant to the provisions of NRS 645.8701 to 645.8811, inclusive, that is determined by a district

court to be frivolous and made without reasonable cause pursuant to NRS 645.8791.

      2.  The Commission may take action pursuant

to NRS 645.630 against a person who is subject to

that section for the suspension or revocation of a real estate broker’s,

broker-salesperson’s or salesperson’s license issued by any other jurisdiction.

      3.  The Commission may take action pursuant

to NRS 645.630 against any person who:

      (a) Holds a permit to engage in property

management issued pursuant to NRS 645.6052; and

      (b) In connection with any property for which the

person has obtained a property management agreement pursuant to NRS 645.6056:

             (1) Is convicted of violating any of the

provisions of NRS 202.470;

             (2) Has been notified in writing by the

appropriate governmental agency of a potential violation of NRS 244.360, 244.3603 or 268.4124, and has failed to inform the

owner of the property of such notification; or

             (3) Has been directed in writing by the

owner of the property to correct a potential violation of NRS 244.360, 244.3603 or 268.4124, and has failed to correct the

potential violation, if such corrective action is within the scope of the

person’s duties pursuant to the property management agreement.

      4.  The Division shall maintain a log of

any complaints that it receives relating to activities for which the Commission

may take action against a person holding a permit to engage in property

management pursuant to subsection 3.

      5.  On or before February 1 of each

odd-numbered year, the Division shall submit to the Director of the Legislative

Counsel Bureau a written report setting forth, for the previous biennium:

      (a) Any complaints included in the log maintained

by the Division pursuant to subsection 4; and

      (b) Any disciplinary actions taken by the

Commission pursuant to subsection 3.

      (Added to NRS by 1979, 1533; A 1985, 1269, 1672; 1989, 1612; 1995, 2077, 2479; 1997, 591, 960; 1999, 1180; 2001, 1354; 2001

Special Session, 156; 2003, 934, 1502, 2718; 2007, 1475)

      NRS 645.635  Additional grounds for disciplinary action: Unprofessional and

improper conduct relating to real estate transactions.  The

Commission may take action pursuant to NRS 645.630

against any person subject to that section who is guilty of:

      1.  Offering real estate for sale or lease

without the knowledge and consent of the owner or the owner’s authorized agent

or on terms other than those authorized by the owner or the owner’s authorized

agent.

      2.  Negotiating a sale, exchange or lease

of real estate, or communicating after such negotiations but before closing,

directly with a client if the person knows that the client has a brokerage

agreement in force in connection with the property granting an exclusive

agency, including, without limitation, an exclusive right to sell to another

broker, unless permission in writing has been obtained from the other broker.

      3.  Failure to deliver within a reasonable

time a completed copy of any purchase agreement or offer to buy or sell real estate

to the purchaser or to the seller, except as otherwise provided in subsection 4

of NRS 645.254.

      4.  Failure to deliver to the seller in

each real estate transaction, within 10 business days after the transaction is

closed, a complete, detailed closing statement showing all of the receipts and

disbursements handled by him or her for the seller, failure to deliver to the

buyer a complete statement showing all money received in the transaction from

the buyer and how and for what it was disbursed, or failure to retain true

copies of those statements in his or her files. The furnishing of those

statements by an escrow holder relieves the broker’s, broker-salesperson’s or

salesperson’s responsibility and must be deemed to be in compliance with this

provision.

      5.  Representing to any lender,

guaranteeing agency or any other interested party, verbally or through the

preparation of false documents, an amount in excess of the actual sale price of

the real estate or terms differing from those actually agreed upon.

      6.  Failure to produce any document, book

or record in his or her possession or under his or her control, concerning any

real estate transaction under investigation by the Division.

      7.  Failure to reduce a bona fide offer to

writing where a proposed purchaser requests that it be submitted in writing,

except as otherwise provided in subsection 4 of NRS

645.254.

      8.  Failure to submit all written bona fide

offers to a seller when the offers are received before the seller accepts an

offer in writing and until the broker has knowledge of that acceptance, except

as otherwise provided in subsection 4 of NRS 645.254.

      9.  Refusing because of race, color,

national origin, sex or ethnic group to show, sell or rent any real estate for

sale or rent to qualified purchasers or renters.

      10.  Knowingly submitting any false or

fraudulent appraisal to any financial institution or other interested person.

      11.  Any violation of NRS 645C.557.

      (Added to NRS by 1979, 1533; A 1985, 1270; 1995, 2077; 2001, 2895; 2007, 1789; 2009, 1509)

      NRS 645.645  Additional grounds for disciplinary action: Unprofessional and

improper conduct relating to sale of insurance for home protection.  The Commission may take action pursuant to NRS 645.630 against any person selling insurance for

home protection, as defined in NRS

690B.100, under the authority of a license issued pursuant to this chapter

who:

      1.  Makes a misrepresentation in the sale

of insurance for home protection.

      2.  Misrepresents the provisions of the

contract of insurance for home protection.

      3.  Misappropriates any fees or premiums

collected for the insurance for home protection.

      (Added to NRS by 1981, 1323)

      NRS 645.647  Additional grounds for disciplinary action: Failure to pay money

to Commission or Division.  In

addition to any other remedy or penalty, the Commission or the Division, as

appropriate, may:

      1.  Refuse to issue a license, permit,

certificate or registration to a person who has failed to pay money which the

person owes to the Commission or the Division.

      2.  Refuse to renew, or suspend or revoke,

the license, permit, certificate or registration of a person who has failed to

pay money which the person owes to the Commission or the Division.

      (Added to NRS by 2003, 1289)

      NRS 645.648  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 Division 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 real estate broker, broker-salesperson or salesperson,

the Division 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 Division 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 Division shall reinstate a license

as a real estate broker, broker-salesperson or salesperson that has been

suspended by a district court pursuant to NRS

425.540 if the Division 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, 2164; A 2005, 2807)

      NRS 645.660  Knowledge of associate or employer of violation by licensee or

employee; penalties.

      1.  Any unlawful act or violation of any of

the provisions of this chapter by any licensee is not cause to suspend, revoke

or deny the renewal of the license of any person associated with the licensee,

unless it appears to the satisfaction of the Commission that the associate knew

or should have known thereof. A course of dealing shown to have been

persistently and consistently followed by any licensee constitutes prima facie

evidence of such knowledge upon the part of the associate.

      2.  If it appears that a registered

owner-developer knew or should have known of any unlawful act or violation on

the part of a real estate broker, broker-salesperson or salesperson employed by

the registered owner-developer, in the course of his or her employment, the

Commission may suspend, revoke or deny the renewal of the registered

owner-developer’s registration and may assess a civil penalty of not more than

$5,000.

      3.  The Commission may suspend, revoke or

deny the renewal of the license of a real estate broker and may assess a civil

penalty of not more than $5,000 against the broker if it appears he or she has

failed to maintain adequate supervision of a salesperson or broker-salesperson

associated with the broker and that person commits any unlawful act or violates

any of the provisions of this chapter.

      [Part 20:150:1947; 1943 NCL § 6396.20]—(NRS A 1975,

1552, 1642; 1979,

1551; 1981,

1612; 1985,

1271; 1993,

891; 2001,

523)

      NRS 645.670  Effect on limited-liability company, partnership or corporation

of revocation or suspension of license of manager, partner or officer;

termination of suspension or reinstatement of license.  In

the event of the revocation or suspension of the license issued to a manager of

a limited-liability company, a member of a partnership or to any officer of a

corporation, the limited-liability company, partnership or corporation shall

not conduct business unless the manager or member whose license has been

revoked is severed and his or her interest in the limited-liability company or

partnership and his or her share in its activities brought to an end, or if a

corporation, the offending officer is discharged and has no further

participation in its activities. The discharged or withdrawing manager, member

or officer of such a limited-liability company, partnership or corporation may

reassume his or her connection with, or be reengaged by the limited-liability

company, partnership or corporation, upon termination of the suspension or upon

reinstatement of his or her license.

      [Part 20:150:1947; 1943 NCL § 6396.20]—(NRS A 1975,

1553; 1979,

1551; 1985,

1271; 1997,

170)

      NRS 645.675  Disciplinary proceedings, fines and penalties not affected by

expiration, revocation or voluntary surrender of license, permit or

registration.  The expiration or

revocation of a license, permit or registration by operation of law or by order

or decision of the Commission or a court of competent jurisdiction, or the

voluntary surrender of a license, permit or registration by a real estate

broker, real estate broker-salesperson, real estate salesperson, property

manager or owner-developer does not:

      1.  Prohibit the Administrator, Commission

or Division from initiating or continuing an investigation of, or action or

disciplinary proceeding against, the real estate broker, real estate

broker-salesperson, real estate salesperson, property manager or

owner-developer 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 real estate broker, real

estate broker-salesperson, real estate salesperson, property manager or

owner-developer.

      (Added to NRS by 2001, 521)

      NRS 645.680  Revocation, suspension or denial of renewal of license, permit

or registration: Complaint; notice of hearing.

      1.  The procedure set forth in this section

and NRS 645.690 must be followed before the

Commission revokes, suspends or denies the renewal of any license, permit or

registration of an owner-developer issued pursuant to this chapter.

      2.  Upon the initiation of a complaint by

the Administrator, the matter must be set for a hearing by the Administrator,

who shall schedule a hearing before the Commission, and the licensee, permittee

or owner-developer is entitled to be heard thereon in person or by counsel.

      3.  The Commission shall hold the hearing

within 90 days after the filing of a complaint by the Administrator. The time

of the hearing may be continued upon the motion of the Commission or at the

discretion of the Commission, upon the written request of the licensee,

permittee or owner-developer or of the Division for good cause shown.

      4.  The licensee, permittee or

owner-developer must be given at least 30 days’ notice in writing by the

Division of the date, time and place of the hearing together with a copy of the

complaint and copies of all communications, reports, affidavits or depositions

in possession of the Division relevant to the complaint. The Division may

present evidence obtained after the notice only if the Division shows that the

evidence was not available after diligent investigation before the time notice

was given to the licensee, permittee or owner-developer and that the evidence

was given or communicated to the licensee, permittee or owner-developer

immediately after it was obtained.

      5.  Notice is complete upon delivery

personally to the licensee, permittee or owner-developer or by mailing by

certified mail to the last known address of the licensee, permittee or

owner-developer. If the licensee is a broker-salesperson or salesperson, the

Division shall also notify the broker with whom he or she is associated, or the

owner-developer by whom he or she is employed, by mailing an exact statement of

the charges and the date, time and place of the hearing by certified mail to

the owner-developer or broker’s last known address.

      [Part 21:150:1947; A 1955, 19]—(NRS A 1957, 339;

1963, 675; 1969, 95; 1971, 453; 1975, 1553; 1979, 1551; 1981, 1329; 1983, 166; 1985, 1271; 2001, 523)

      NRS 645.685  Revocation, suspension or denial of renewal of license, permit

or registration: Answer; limitations on time of commencing proceeding.

      1.  The licensee, permittee or

owner-developer shall file an answer to the charges with the Commission not

later than 30 days after service of the notice and other documents described in

subsection 4 of NRS 645.680. The answer must

contain an admission or denial of the allegations contained in the complaint

and any defenses upon which the licensee, permittee or owner-developer will

rely. If no answer is filed within the period described in this subsection, the

Division may, after notice to the licensee, permittee or owner-developer served

in the manner authorized in subsection 5 of NRS 645.680,

move the Commission for the entry of a default against the licensee, permittee

or owner-developer.

      2.  The answer may be served by delivery to

the Commission, or by mailing the answer by certified mail to the principal

office of the Division.

      3.  No proceeding to suspend, revoke or

deny the renewal of any license or registration of an owner-developer may be

maintained unless it is commenced by the giving of notice to the licensee,

permittee or owner-developer within 5 years after the date of the act charged,

whether of commission or omission, except:

      (a) If the charges are based upon a

misrepresentation, or failure to disclose, the period does not commence until

the discovery of facts which do or should lead to the discovery of the

misrepresentation or failure to disclose; and

      (b) Whenever any action or proceeding is

instituted to which the Division, licensee, permittee or owner-developer is a

party and which involves the conduct of the licensee, permittee or

owner-developer in the transaction with which the charges are related, the

running of the 5-year period with respect to the institution of a proceeding

pursuant to this chapter to suspend, revoke or deny the renewal of the license,

permit or registration is suspended during the pendency of the action or

proceeding.

      (Added to NRS by 1979, 1534; A 1985, 1272; 1987, 517; 1989, 1613; 2001, 524; 2007, 1543)

      NRS 645.690  Revocation, suspension or denial of renewal of license, permit

or registration: Hearing; transcript.

      1.  The hearing on the charges must be held

at such time and place as the Commission prescribes. The hearing may be held by

the Commission or a majority thereof, and the hearing must be held, if the

licensee, permittee or owner-developer so requests in writing, within the

northern or southern district, as set forth in NRS

645.100, within which the principal place of business of the licensee,

permittee or owner-developer is situated.

      2.  At the hearing, a stenographic transcript

of the proceedings must be made if requested or required for judicial review.

Any party to the proceedings desiring a transcript must be furnished with a

copy upon payment to the Division of the reasonable cost of transcription.

      [Part 21:150:1947; A 1955, 19]—(NRS A 1963, 1075; 1979, 1552; 1981, 1613; 1985, 1273; 2001, 524)

      NRS 645.700  Power of Commission to administer oaths, certify acts and issue

subpoenas; service of process.

      1.  The Commission, or any member thereof,

shall have power to administer oaths, certify to all official acts, and to

issue subpoenas for attendance of witnesses and the production of books and

papers.

      2.  In any hearing or investigation in any

part of the State the process issued by the Commission shall extend to all

parts of the State and may be served by any person authorized to serve process

of courts of record. The person serving any such process shall receive such

compensation as may be allowed by the Commission, not to exceed the fees

prescribed by law for similar service, and such fees shall be paid in the same

manner as provided in NRS 645.710 for the payment

of the fees of witnesses.

      [Part 22:150:1947; 1943 NCL § 6396.22]—(NRS A 1973,

1103)

      NRS 645.710  Fees and mileage for witness.

      1.  Each witness who appears by order of

the Commission is entitled to receive for his or her attendance the same fees

and mileage allowed by law to a witness in civil cases, which amount must be

paid by the party at whose request the witness is subpoenaed.

      2.  When any witness not otherwise required

to attend, is subpoenaed by the Commission, his or her fees and mileage must be

paid by the Division.

      [Part 22:150:1947; 1943 NCL § 6396.22]—(NRS A 1979, 1553)

      NRS 645.720  Enforcement of subpoenas.

      1.  The district court in and for the

county in which any hearing may be held shall have the power to compel the

attendance of witnesses, the giving of testimony and the production of books

and papers as required by any subpoena issued by the Commission.

      2.  In case of the refusal of any witness

to attend or testify or produce any papers required by such subpoena the

Commission may report to the district court in and for the county in which the

hearing is pending by petition, setting forth:

      (a) That due notice has been given of the time

and place of attendance of the witness or the production of the books and

papers;

      (b) That the witness has been subpoenaed in the

manner prescribed in this chapter; and

      (c) That the witness has failed and refused to

attend or produce the papers required by subpoena before the Commission in the

cause or proceeding named in the subpoena, or has refused to answer questions

propounded to him or her in the course of such hearing,

Ê and asking

an order of the court compelling the witness to attend and testify or produce

the books or papers before the Commission.

      3.  The court, upon petition of the

Commission, shall enter an order directing the witness to appear before the

court at a time and place to be fixed by the court in such order, the time to

be not more than 10 days from the date of the order, and then and there show

cause why the witness has not attended or testified or produced the books or

papers before the Commission. A certified copy of the order shall be served

upon the witness. If it shall appear to the court that the subpoena was

regularly issued by the Commission, the court shall thereupon enter an order

that the witness appear before the Commission at the time and place fixed in

the order and testify or produce the required books or papers, and upon failure

to obey the order the witness shall be dealt with as for contempt of court.

      [Part 22:150:1947; 1943 NCL § 6396.22]

      NRS 645.730  Depositions; taking of evidence in another state; rights of

party to hearing.

      1.  The Commission may, in any hearing

before it, cause the depositions of witnesses residing within or without the

State to be taken in the manner prescribed by the Nevada Rules of Civil

Procedure for like depositions in civil actions in the district courts of this

State, and to that end may compel the attendance of witnesses and the

production of books and papers.

      2.  The clerk of the district court in and

for the county in which any hearing may be held by the Commission shall, upon

the application of the Commission, issue commissions or letters rogatory to

other states for the taking of evidence therein for use in any proceedings

before the Commission.

      3.  Any party to any hearing before the

Commission shall have the right to the attendance of witnesses in the party’s

behalf at such hearing or upon deposition as set forth in this section upon

making request therefor to the Commission and designating the name and address

of the person or persons sought to be subpoenaed.

      [Part 22:150:1947; 1943 NCL § 6396.22]

      NRS 645.740  Decision of Commission: Rendition; notice; effective date; stay

of decision.

      1.  The Commission shall render an informal

decision on any complaint within 15 days after the final hearing thereon and

shall give notice in writing of the ruling or decision to the applicant or

licensee affected thereby within 60 days after the final hearing thereon by

certified mail to the last known address of the person to whom the notice is

sent.

      2.  If the ruling is adverse to the

licensee, the Commission shall also state in the notice the date upon which the

ruling or decision becomes effective, which date must not be less than 30 days

after the date of the notice.

      3.  The decision of the Commission may not

be stayed by any appeal in accordance with the provisions of NRS 645.760, unless the district court so orders upon

motion of the licensee, notice to the Division of the motion and opportunity

for the Division to be heard.

      4.  An appeal from a decision of the

district court affirming the revocation or suspension of a license does not

stay the order of the Commission unless the district or appellate court, in its

discretion and upon petition of the licensee, after notice and hearing orders

such stay, and upon the filing of a bond for costs in the amount of $1,000.

      [Part 23:150:1947; 1943 NCL § 6396.23]—(NRS A 1965,

1409; 1969, 95; 1971, 454; 1973, 1103; 1979, 1553; 1985, 1273)

      NRS 645.760  Decision final when in favor of licensee; judicial review of

decision against licensee.

      1.  A ruling or decision of the Commission

in any disciplinary action is final when in favor of the licensee.

      2.  If a ruling or decision is against the

licensee, the licensee is entitled to judicial review of the ruling or decision

in the manner provided by chapter 233B of

NRS.

      [Part 23:150:1947; 1943 NCL § 6396.23]—(NRS A 1963,

676; 1979, 1553;

1981, 1613;

1985, 1273;

1989, 1659)

      NRS 645.770  Restrictions on issuance of new license, permit or registration

after revocation.  After the

revocation of any license, permit or registration by the Commission as provided

in this chapter, no new license, permit or registration may be issued to the

same licensee, permittee or registrant, as appropriate, within 1 year after the

date of the revocation, nor at any time thereafter except in the sole

discretion of the Real Estate Division, and then only provided that the

licensee, permittee or registrant satisfies all the requirements for an

original license, permit or registration.

      [Part 14:150:1947; A 1949, 433; 1943 NCL § 6396.14] +

[24:150:1947; 1943 NCL § 6396.24]—(NRS A 1963, 677; 2005, 1292)

EXPIRATION AND RENEWAL OF LICENSES

      NRS 645.780  Expiration of licenses; length of license periods; additional

fees for electronic renewal.

      1.  Each license issued under the

provisions of this chapter expires at midnight on the last day of the last

month of the applicable license period for the license.

      2.  The initial license period for an

original license as a real estate broker, broker-salesperson or salesperson is

a period of 24 consecutive months beginning on the first day of the first

calendar month after the original license is issued by the Division.

Thereafter, each subsequent license period is a period of 48 consecutive months

beginning on the first day of the first calendar month after a renewal of the

license is issued by the Division for the subsequent license period.

      3.  For all other licenses, the license

period is a period of 48 consecutive months beginning on the first day of the

first calendar month after the license or any renewal of the license is issued

by the Division, unless a specific statute:

      (a) Provides for a different license period; or

      (b) Expressly authorizes a different license

period to be provided for by regulation.

      4.  The Division may:

      (a) Create and maintain a secure website on the

Internet through which each license, permit, certificate or registration issued

pursuant to the provisions of this chapter may be renewed; and

      (b) For each license, permit, certificate or

registration renewed through the use of a website created and maintained

pursuant to paragraph (a), charge a fee in addition to any other fee provided

for pursuant to this chapter which must not exceed the actual cost to the

Division for providing that service.

      [Part 19:150:1947; A 1949, 433; 1955, 77]—(NRS A

1963, 334; 1969, 565; 1973, 1104; 1975, 1554; 1977, 1316; 2003, 1294; 2007, 584; 2009, 1939)

      NRS 645.785  Effect of failure to renew license or permit; increased fee for

late renewal.

      1.  If a licensee fails to apply for a

renewal of his or her license before the date of the expiration thereof, no

license may be issued to the licensee except upon another application for an

original license, except that within 1 year of such expiration a renewal may be

issued upon payment of a fee in the amount of $100, in addition to the amount

otherwise required for renewal.

      2.  If a licensee fails to apply for a

renewal of his or her permit before the date of the expiration thereof, no

permit may be issued to the licensee except upon another application for an

original permit, except that within 1 year of such expiration a renewal may be

issued upon payment of a fee in the amount of $20, in addition to the amount

otherwise required for renewal and compliance with any other requirement for

renewal pursuant to NRS 645.6052 or 645.863.

      [Part 19:150:1947; A 1949, 433; 1955, 77]—(NRS A

1975, 1555; 2013,

1025)

FEES

      NRS 645.830  Amount of fees.

      1.  The following fees must be charged by

and paid to the Division:

 

For each original

real estate broker’s, broker-salesperson’s or corporate broker’s license        $210

For each original

real estate salesperson’s license............................................ 170

For each original

branch office license............................................................... 240

For real estate

education, research and recovery to be paid at the time an application for an

original license is filed       40

For real estate

education, research and recovery to be paid at the time an application for

renewal of a license is filed    80

For each renewal of a

real estate broker’s, broker-salesperson’s or corporate broker’s license               360

For each renewal of a

real estate salesperson’s license................................... 280

For each renewal of a

real estate branch office license................................... 220

For each penalty for

late filing of a renewal for a broker’s, broker-salesperson’s or corporate

broker’s license  180

For each penalty for

late filing of a renewal for a salesperson’s license...... 140

For each change of

name or address.................................................................... 20

For each transfer of

a real estate salesperson’s or broker-salesperson’s license and change of

association or employment............................................................................................................................... 20

For each duplicate license

where the original license is lost or destroyed, and an affidavit is made

thereof        20

For each change of

broker status from broker to broker-salesperson............. 20

For each change of

broker status from broker-salesperson to broker............. 40

For each

reinstatement to active status of an inactive real estate broker’s,

broker-salesperson’s or salesperson’s license............................................................................................................................... 20

For each

reinstatement of a real estate broker’s license when the licensee fails to give

immediate written notice to the Division of a change of name or business

location..................................................... 30

For each

reinstatement of a real estate salesperson’s or broker-salesperson’s license

when he or she fails to notify the Division of a change of broker within 30

days of termination by previous broker 30

For each original

registration of an owner-developer....................................... 125

For each annual

renewal of a registration of an owner-developer................ 125

For each enlargement

of the area of an owner-developer’s registration........ 50

For each cooperative

certificate issued to an out-of-state broker licensee for 1 year or fraction

thereof             150

For each original

accreditation of a course of continuing education............ 100

For each renewal of

accreditation of a course of continuing education........ 50

For each annual

approval of a course of instruction offered in preparation for an original license

or permit     100

 

      2.  The fees prescribed by this section for

courses of instruction offered in preparation for an original license or permit

or for courses of continuing education do not apply to:

      (a) Any university, state college or community

college of the Nevada System of Higher Education.

      (b) Any agency of the State.

      (c) Any regulatory agency of the Federal

Government.

      3.  The Commission shall adopt regulations

which establish the fees to be charged and collected by the Division to pay the

costs of any investigation of a person’s background.

      [Part 19:150:1947; A 1949, 433; 1955, 77]—(NRS A

1957, 340; 1959, 396; 1963, 1075; 1965, 1409; 1967, 1046; 1975, 1554, 1642; 1977, 1316; 1979, 1080, 1554; 1981, 1035, 1614; 1985, 1274; 1989, 1613; 1993, 420, 941, 2292; 1995, 163; 2001, 2895; 2003, 1295; 2005, 372; 2009, 1939)

REAL ESTATE EDUCATION, RESEARCH AND RECOVERY FUND

      NRS 645.841  “Fund” defined.  As

used in NRS 645.841 to 645.8494,

inclusive, “Fund” means the Real Estate Education, Research and Recovery Fund.

      (Added to NRS by 1967, 1043)

      NRS 645.842  Creation; use; balances; interest and income.

      1.  The Real Estate Education, Research and

Recovery Fund is hereby created as a special revenue fund.

      2.  A balance of not less than $300,000

must be maintained in the Fund, to be used for satisfying claims against

persons licensed under this chapter, as provided in NRS

645.841 to 645.8494, inclusive. Any balance

over $300,000 remaining in the Fund at the end of any fiscal year must be set

aside and used:

      (a) By the Administrator, after approval of the

Commission, for real estate education and research; or

      (b) For any other purpose authorized by the

Legislature.

      3.  The interest and income earned on the

money in the Fund, after deducting any applicable charges, must be credited to

the Fund.

      (Added to NRS by 1967, 1043; A 1973, 1763; 1979, 119; 1981, 1615; 2003, 1296; 2005, 665; 2010, 26th

Special Session, 24)

      NRS 645.843  Payment of additional fee by licensee for augmentation of Fund.

      1.  Upon application for or renewal of

every real estate broker’s, broker-salesperson’s and salesperson’s license,

every licensed broker, broker-salesperson and salesperson shall pay in addition

to the original or renewal fee, a fee for real estate education, research and

recovery. The additional fee must be deposited in the State Treasury for credit

to the Real Estate Education, Research and Recovery Fund, and must be used

solely for the purposes provided in NRS 645.841 to 645.8494, inclusive.

      2.  Owner-developers need not contribute to

the Fund.

      (Added to NRS by 1967, 1044; A 1969, 566; 1973, 1105,

1764; 1975, 1643; 1977, 1318; 1979, 119, 1555; 1981, 1615; 1985, 1275)

      NRS 645.844  Recovery from Fund: Procedure; grounds; amount; hearing.

      1.  Except as otherwise provided in

subsection 2, when any person obtains a final judgment in any court of

competent jurisdiction against any licensee or licensees pursuant to this

chapter, upon grounds of fraud, misrepresentation or deceit with reference to

any transaction for which a license is required pursuant to this chapter, that

person, upon termination of all proceedings, including appeals in connection

with any judgment, may file a verified petition in the court in which the

judgment was entered for an order directing payment out of the Fund in the

amount of the unpaid actual damages included in the judgment, but not more than

$25,000 per judgment. The liability of the Fund does not exceed $100,000 for

any person licensed pursuant to this chapter, whether the person is licensed as

a limited-liability company, partnership, association or corporation or as a

natural person, or both. The petition must state the grounds which entitle the

person to recover from the Fund.

      2.  A person who is licensed pursuant to

this chapter may not recover from the Fund for damages which are related to a

transaction in which the person acted in his or her capacity as a licensee.

      3.  A copy of the:

      (a) Petition;

      (b) Judgment;

      (c) Complaint upon which the judgment was

entered; and

      (d) Writ of execution which was returned

unsatisfied,

Ê must be

served upon the Administrator and the judgment debtor and affidavits of service

must be filed with the court.

      4.  Upon the hearing on the petition, the

petitioner must show that:

      (a) The petitioner is not the spouse of the

debtor, or the personal representative of that spouse.

      (b) The petitioner has complied with all the

requirements of NRS 645.841 to 645.8494, inclusive.

      (c) The petitioner has obtained a judgment of the

kind described in subsection 1, stating the amount thereof, the amount owing

thereon at the date of the petition, and that the action in which the judgment

was obtained was based on fraud, misrepresentation or deceit of the licensee in

a transaction for which a license is required pursuant to this chapter.

      (d) A writ of execution has been issued upon the

judgment and that no assets of the judgment debtor liable to be levied upon in

satisfaction of the judgment could be found, or that the amount realized on the

sale of assets was insufficient to satisfy the judgment, stating the amount so

realized and the balance remaining due.

      (e) The petitioner has made reasonable searches

and inquiries to ascertain whether the judgment debtor possesses real or

personal property or other assets, liable to be sold or applied in satisfaction

of the judgment, and after reasonable efforts that no property or assets could

be found or levied upon in satisfaction of the judgment.

      (f) The petitioner has made reasonable efforts to

recover damages from each and every judgment debtor.

      (g) The petition has been filed no more than 1

year after the termination of all proceedings, including reviews and appeals,

in connection with the judgment.

      5.  The provisions of this section do not

apply to owner-developers.

      (Added to NRS by 1967, 1044; A 1973, 1764; 1975,

1555; 1979,

1555; 1981,

1615; 1985,

1276; 1987,

1048; 1997,

170; 2005,

666)

      NRS 645.845  Administrator may answer petition for recovery; effect of

judgment; compromise of claim.

      1.  Whenever the court proceeds upon a

petition as provided in NRS 645.844, the

Administrator may answer and defend any such action against the Fund on behalf

of the Fund and may use any appropriate method of review on behalf of the Fund.

The judgment debtor may answer and defend any such action on his or her own

behalf.

      2.  Unless the judgment was entered by

default, consent or stipulation or the case was uncontested, the judgment set

forth in the petition is prima facie evidence but the findings of fact therein

are not conclusive for the purposes of NRS 645.841

to 645.8494, inclusive.

      3.  The Administrator may, subject to court

approval, compromise a claim based upon the application of a petitioner. The

Administrator shall not be bound by any prior compromise of the judgment

debtor.

      (Added to NRS by 1967, 1044; A 1985, 1277)

      NRS 645.846  Court order requiring payment from Fund.  If the court finds after the hearing that the

claim should be levied against the portion of the Fund allocated for the

purpose of carrying out the provisions of NRS 645.841

to 645.8494, inclusive, the court shall enter an

order directed to the Administrator requiring payment from the Fund of whatever

sum it finds to be payable upon the claim pursuant to the provisions of and in

accordance with the limitations contained in NRS

645.841 to 645.8494, inclusive.

      (Added to NRS by 1967, 1045)

      NRS 645.847  Automatic suspension of license upon payment from Fund;

conditions for reinstatement of license.  If

the Administrator pays from the Fund any amount in settlement of a claim or

towards satisfaction of a judgment against a licensee, the licensee’s license

issued pursuant to this chapter and chapter 119

of NRS must be automatically suspended upon the effective date of an order by

the court authorizing payment from the Fund. The license of the broker,

broker-salesperson or salesperson may not be reinstated and no other license

may be granted to him or her pursuant to this chapter until he or she has

repaid in full, plus interest at a rate equal to the prime rate at the largest

bank in Nevada, as ascertained by the Commissioner of Financial Institutions,

on January 1 or July 1, as the case may be, immediately preceding the date of

judgment, plus 2 percent, the amount paid from the Fund on his or her account.

Interest is computed from the date payment from the Fund was made by the

Administrator and the rate must be adjusted accordingly on each January 1 and

July 1 thereafter until the judgment is satisfied.

      (Added to NRS by 1967, 1045; A 1973, 1765; 1979, 1556; 1981, 1616; 1985, 1277; 1987, 942)

      NRS 645.848  Distribution of payment from Fund if claims exceed maximum

liability of Fund; order of payment of claims if balance of Fund insufficient;

interest; use of certain money deposited in Fund.

      1.  Whenever claims are filed against the

Fund which total more than the maximum liability for the acts of one licensee,

the maximum liability of the Fund for each licensee must be distributed among

the claimants in a ratio that their respective claims bear to the total of all

claims, or in any other manner that the court may find equitable.

      2.  The distribution must be made without

regard to the order of priority in which claims were filed or judgments

entered.

      3.  Upon petition of the Administrator, the

court may require all claimants and prospective claimants to be joined in one

action so that the respective rights of all claimants may be equitably

determined.

      4.  If, at any time, the money deposited in

the Fund and allotted for satisfying claims against licensees is insufficient

to satisfy any authorized claim or portion thereof, the Administrator shall,

when sufficient money has been deposited in the Fund, satisfy the unpaid claims

or portions thereof, in the order that the claims or portions thereof were

originally filed, plus accumulated interest at the rate of 6 percent per annum.

Any sums received by the Division pursuant to NRS

645.847 and 645.8491 must be deposited in the

State Treasury for credit to the account for education and research in the

Fund.

      (Added to NRS by 1967, 1045; A 1973, 1765; 1975,

1556; 1979,

1556; 1985,

1277)

      NRS 645.8491  Administrator subrogated to rights of judgment creditor; deposit

of money recovered.  When the

Administrator has paid from the Fund any money to the judgment creditor, the

Administrator is subrogated to all other rights of the judgment creditor to the

extent of the amount paid and any amount and interest so recovered by the

Administrator on the judgment must be deposited in the State Treasury for

credit to the Fund.

      (Added to NRS by 1967, 1045; A 1985, 1278)

      NRS 645.8492  Waiver of rights.  The

failure of a person to comply with any of the provisions of NRS 645.841 to 645.8494,

inclusive, shall constitute a waiver of any rights hereunder.

      (Added to NRS by 1967, 1045; A 1973, 1765)

      NRS 645.8494  Disciplinary action against licensee not restricted.  Nothing contained in NRS

645.841 to 645.8494, inclusive, limits the

authority of the Commission to take disciplinary action against a licensee for

a violation for any of the provisions of this chapter, or of the rules and

regulations of the Commission, nor shall the repayment in full of all

obligations to the Fund by any licensee nullify or modify the effect of any

other disciplinary proceeding brought pursuant to the provisions of this

chapter or the rules and regulations promulgated thereunder.

      (Added to NRS by 1967, 1046)

BUSINESS BROKERS

      NRS 645.863  Permit to engage in business as business broker: Persons eligible;

requirements; continuing education; expiration; renewal; regulations.

      1.  A person who is licensed as a real

estate broker, real estate broker-salesperson or real estate salesperson

pursuant to this chapter may apply to the Real Estate Division for a permit to

engage in business as a business broker.

      2.  An applicant for a permit must:

      (a) Provide proof satisfactory to the Real Estate

Division that the applicant has successfully completed at least 24 hours of

instruction relating to business brokerage; and

      (b) Comply with any other requirements for the

issuance of a permit established by the Commission.

      3.  A permit expires on the same date as

the license of the holder of the permit expires. A permit may be renewed at the

time that a person licensed pursuant to this chapter applies for renewal of his

or her license.

      4.  An applicant for the renewal of a

permit must:

      (a) Provide proof satisfactory to the Real Estate

Division that the applicant has successfully completed at least 3 hours of

continuing education required for the renewal of his or her license pursuant to

the regulations adopted by the Commission pursuant to NRS

645.575 in an approved educational course, seminar or conference relating

to business brokerage.

      (b) Comply with any other requirements for

renewal of a permit established by the Commission.

      5.  The Commission shall adopt such

regulations as are necessary to carry out the provisions of this section. The

regulations must include, without limitation, provisions that establish:

      (a) Requirements for the issuance or renewal of a

permit.

      (b) Fees for:

             (1) The issuance or renewal of a permit;

             (2) The cost of any examination required

of an applicant for a permit, including, without limitation, any costs which

are necessary for the administration of an examination; and

             (3) The cost of any investigation of an

applicant for a permit.

      (c) Standards of education for the approval of a

course of instruction to qualify an applicant for the issuance or renewal of a

permit.

      (Added to NRS by 2005, 646; A 2007, 1544)

      NRS 645.865  Permit to engage in business as business broker: Requirements

for certain organizations.

      1.  To engage in business as a business

broker in this State:

      (a) A partnership shall designate one of its

members;

      (b) A corporation shall designate one of its

officers or employees;

      (c) A limited-liability company shall designate

its manager; and

      (d) A real estate broker who conducts business as

a sole proprietor shall designate himself or herself or a person who is

licensed under the real estate broker,

Ê to submit an

application for a permit pursuant to NRS 645.863.

The partnership, corporation, limited-liability company or sole proprietor

shall not engage in business as a business broker unless the person so

designated has been issued such a permit.

      2.  If the person designated to apply for a

permit meets the qualifications for a permit set forth in NRS 645.863, the Real Estate Division shall issue to

that person a permit to engage in business as a business broker on behalf of

the partnership, corporation, limited-liability company or sole proprietor.

      3.  A person to whom such a permit has been

issued may act as a business broker pursuant to the permit only on behalf of

the partnership, corporation, limited-liability company or sole proprietor, and

not on his or her own behalf. If that person ceases to be connected or

associated with the partnership, corporation, limited-liability company or sole

proprietor, the partnership, corporation, limited-liability company or sole

proprietor shall designate another person who meets the qualifications for a

permit set forth in NRS 645.863 to hold the permit

on behalf of the partnership, corporation, limited-liability company or sole

proprietor.

      4.  Any member, officer or employee of a

partnership, corporation, limited-liability company or sole proprietor, other

than the person designated as the business broker pursuant to subsection 1, who

wishes to engage in business as a business broker must apply in his or her own

name for a permit. Pursuant to such a permit, the member, officer or employee

of a partnership, corporation, limited-liability company or sole proprietor may

act as a business broker only as an officer, agent or employee of the

partnership, corporation, limited-liability company or sole proprietor, and not

on his or her own behalf.

      (Added to NRS by 2005, 647)

      NRS 645.867  Designated business brokers: Requirements; qualifications;

duties.

      1.  If a real estate broker does not hold a

permit to engage in business as a business broker but intends to have the

activities of a business broker conducted at an office, the real estate broker

must:

      (a) Appoint a person, who has the qualifications

required by this section, as the designated business broker for the office to

supervise the activities of a business broker conducted at the office; and

      (b) Submit notice of the appointment to the

Division.

      2.  The designated business broker for an

office must be a natural person who:

      (a) Holds a license as a real estate broker or

real estate broker-salesperson;

      (b) Holds a permit to engage in business as a

business broker; and

      (c) Has 2 years active experience, within the 4

years immediately preceding the date of the appointment, in conducting the

activities of a business broker in the United States as a licensed real estate

broker, real estate broker-salesperson or real estate salesperson.

      3.  While acting as the designated business

broker for an office, the person:

      (a) Must comply with all applicable provisions of

this chapter; and

      (b) Is subject to all the remedies and penalties

provided for in this chapter.

      (Added to NRS by 2005, 647)

BROKERAGE AGREEMENTS INVOLVING COMMERCIAL REAL ESTATE

General Provisions

      NRS 645.8701  Definitions.  As

used in NRS 645.8701 to 645.8811,

inclusive, unless the context otherwise requires, the words and terms defined

in NRS 645.8705 to 645.8741,

inclusive, have the meanings ascribed to them in those sections.

      (Added to NRS by 1999, 1174)

      NRS 645.8705  “Brokerage agreement” defined.  “Brokerage

agreement” means a written contract between an owner and a real estate broker

in which the owner agrees to pay a commission to the real estate broker for

services provided by the broker relating to the disposition of commercial real

estate as specified in the agreement.

      (Added to NRS by 1999, 1174)

      NRS 645.8711  “Commercial real estate” defined.  “Commercial

real estate” means any real estate located in this State. The term does not

include:

      1.  Improved real estate that consists of

not more than four residential units;

      2.  Unimproved real estate for which not

more than four residential units may be developed or constructed pursuant to

any zoning regulations or any development plan applicable to the real estate;

or

      3.  A single-family residential unit,

including a condominium, townhouse or home within a subdivision, if the unit is

sold, leased or otherwise conveyed unit by unit, regardless of whether the unit

is part of a larger building or parcel that consists of more than four units.

      (Added to NRS by 1999, 1174)

      NRS 645.8715  “Commission” defined.  “Commission”

means any fee or other compensation agreed upon by a real estate broker and an

owner specified in a brokerage agreement.

      (Added to NRS by 1999, 1175)

      NRS 645.8721  “Disposition” defined.  “Disposition”

means a voluntary conveyance or other transfer of title or any interest of an

owner in any commercial real estate specified in a brokerage agreement.

      (Added to NRS by 1999, 1175)

      NRS 645.8725  “Escrow” defined.  “Escrow”

has the meaning ascribed to it in subsection 4 of NRS 645A.010.

      (Added to NRS by 1999, 1175; A 2011, 3595)

      NRS 645.8731  “Escrow agent” defined.  “Escrow

agent” has the meaning ascribed to it in subsection 6 of NRS 645A.010.

      (Added to NRS by 1999, 1175; A 2011, 3595)

      NRS 645.8735  “Owner” defined.  “Owner”

means a person who holds legal title to or any interest in any commercial real

estate that is described in a brokerage agreement, including, without

limitation, any assignee in interest and any agent of a person. The term does

not include a mortgagee, trustee under or beneficiary of a deed of trust or an

owner or holder of a claim that encumbers any real estate or any improvement on

that real estate.

      (Added to NRS by 1999, 1175)

      NRS 645.8741  “Owner’s net proceeds” defined.  “Owner’s

net proceeds” means the gross receipts to which an owner is entitled upon the

disposition of any commercial real estate specified in a brokerage agreement.

The term does not include:

      1.  Any money that is required to pay an

encumbrance, claim or lien that has priority over a claim recorded pursuant to

the provisions of NRS 645.8775 other than an

encumbrance, claim or lien that the person to whom the commercial real estate is

conveyed or otherwise transferred authorizes to remain after the disposition of

the real estate; or

      2.  Any costs incurred by the owner to

close escrow for that commercial real estate.

      (Added to NRS by 1999, 1175)

Rights, Duties and Liabilities Relating to Commissions

      NRS 645.8761  Broker has claim upon owner’s net proceeds for earned

commissions; conditions and limitations on enforcement of claim; waiver;

inapplicability to third-party claims; obligation to close escrow unaffected by

claim.

      1.  A real estate broker has a claim upon

the owner’s net proceeds from the disposition of commercial real estate for any

commission earned by the real estate broker pursuant to a brokerage agreement.

For the purposes of this subsection, a commission shall be deemed to be earned

when the real estate broker has performed his or her duties pursuant to the

brokerage agreement.

      2.  The claim belongs to the real estate

broker named in the brokerage agreement and not to an employee or independent

contractor of the real estate broker.

      3.  A claim that is recorded pursuant to

the provisions of NRS 645.8775:

      (a) Is a claim upon personal property and does

not attach to the title of any real property.

      (b) May be waived if, on or before the date the

brokerage agreement is executed, the real estate broker signs a written waiver of

the real estate broker’s right to enforce the claim. The waiver must be printed

in uppercase letters and must be limited to one transaction. A person other

than the real estate broker may not waive the rights of the real estate broker

pursuant to this section, regardless of whether that person may execute and

bind the real estate broker to a brokerage agreement.

      (c) May not be enforced by a person other than

the real estate broker and the owner.

      4.  A claim of a third party may not be

brought or otherwise adjudicated pursuant to the provisions of NRS 645.8701 to 645.8811,

inclusive.

      5.  The recording or enforcement of a claim

by a real estate broker pursuant to the provisions of NRS

645.8701 to 645.8811, inclusive, does not

relieve the owner of his or her obligation to close escrow for any commercial

real estate.

      (Added to NRS by 1999, 1175)

      NRS 645.8765  Requirements for broker to enforce claim: Written notice to

owner and escrow agent; effect of failure to provide notice; exceptions.

      1.  Except as otherwise provided in

subsection 3, if a real estate broker wishes to enforce a claim pursuant to the

provisions of NRS 645.8701 to 645.8811, inclusive, the real estate broker shall,

within 7 days after a commission is earned by the real estate broker pursuant

to a brokerage agreement, provide a written notice of the claim to:

      (a) The owner of the commercial real estate

specified in the brokerage agreement; and

      (b) The escrow agent closing the transaction for

the commercial real estate.

      2.  A real estate broker who fails to

provide a notice of a claim within the period specified in subsection 1 may not

enforce the claim pursuant to the provisions of NRS

645.8701 to 645.8811, inclusive.

      3.  A real estate broker is not required to

provide a written notice of a claim to an escrow agent pursuant to this section

if the identity of the escrow agent is unknown to the real estate agent at the

time the notice is provided by the real estate broker to the owner pursuant to

paragraph (a) of subsection 1.

      (Added to NRS by 1999, 1176)

      NRS 645.8771  Requirements for broker to enforce claim: Information required

in notice; verification by oath; acknowledgment.

      1.  A notice of claim specified in NRS 645.8765 must include:

      (a) The name of the owner of the commercial real

estate;

      (b) The name of the person who executed the

brokerage agreement, if other than the owner;

      (c) The name, business name, if any, and the license

number of the real estate broker;

      (d) The amount claimed by the real estate broker;

      (e) A detailed description of the commercial real

estate; and

      (f) A copy of the brokerage agreement pursuant to

which the real estate broker claims a commission.

      2.  The notice must:

      (a) Be verified by the oath of the real estate

broker who provides the notice; and

      (b) Include an acknowledgment by the real estate

broker.

      (Added to NRS by 1999, 1176)

      NRS 645.8775  Duty of owner to confirm or deny claim; effect of confirming

claim; effect of denying claim or failing to respond; recording of claim by

broker.

      1.  If an owner is served with a notice of

a claim pursuant to NRS 645.8765, the owner shall,

within 5 days after service of the notice but not later than 7 days before the

disposition of the commercial real estate:

      (a) Confirm or deny the claim set forth in the

notice; and

      (b) Notify, in writing, the real estate broker

who provided the notice to the owner.

      2.  If the owner confirms the claim and

notifies the real estate broker of that fact pursuant to subsection 1, the

owner may instruct the escrow agent for the commercial real estate to pay to

the real estate broker the amount claimed by the real estate broker in the

notice of the claim.

      3.  If the owner fails to notify the real

estate broker within the period specified in subsection 1 or notifies the real

estate broker that the owner denies the claim, the real estate broker may

record the notice of the claim in the office of the county recorder where the

commercial real estate or any portion of the commercial real estate is located.

      (Added to NRS by 1999, 1176)

      NRS 645.8781  Duties of escrow agent upon notice of claim.

      1.  Except as otherwise provided in this

subsection, if:

      (a) An escrow agent receives a notice of a claim

pursuant to NRS 645.8765;

      (b) A notice of claim is recorded pursuant to NRS 645.8775; or

      (c) An escrow agent has actual notice of a claim

specified in paragraph (b),

Ê the escrow

agent shall reserve from the owner’s net proceeds an amount that is equal to

the amount claimed by the real estate broker in his or her recorded claim. If

the amount of the owner’s net proceeds is insufficient to satisfy the amount of

the claim, the escrow agent shall reserve the entire amount of the owner’s net

proceeds. In determining whether the amount of the owner’s net proceeds is

insufficient to satisfy the amount of the claim, the escrow agent may consider

any encumbrance, claim or lien that has priority over the claim of the real

estate broker pursuant to NRS 645.8795.

      2.  If the escrow agent determines that the

amount of the owner’s net proceeds is insufficient to satisfy the amount of the

claim, the escrow agent:

      (a) Shall, within 3 days after making that

determination but not later than the close of escrow, notify the real estate

broker of that fact in writing; and

      (b) Shall not release to the owner any portion of

the owner’s net proceeds unless the escrow agent receives a copy of the written

agreement executed by the owner and the real estate broker authorizing the

escrow agent to release those proceeds to the owner.

      3.  Except as otherwise provided in

paragraph (b) of subsection 2 and NRS 645.8791, if

an owner’s net proceeds or any portion of an owner’s net proceeds are reserved

pursuant to this section, the escrow agent who reserves those proceeds shall

not release the proceeds to any person until the rights of the owner and the

real estate broker are determined pursuant to NRS

645.8791.

      4.  A reservation of an owner’s net

proceeds or any portion of an owner’s net proceeds pursuant to this section

does not relieve the owner of the obligation to close escrow for the commercial

real estate.

      (Added to NRS by 1999, 1177)

      NRS 645.8785  Deposit of proceeds with district court; discharge of escrow

agent from further liability concerning proceeds.

      1.  If:

      (a) A notice of a claim is recorded pursuant to NRS 645.8775;

      (b) An escrow agent has reserved an owner’s net

proceeds or any portion of an owner’s net proceeds pursuant to NRS 645.8781; and

      (c) Escrow for the disposition of the commercial

real estate has closed,

Ê the escrow

agent may, in accordance with the provisions of NRS 645A.177, deposit with the district

court of the county where the claim is recorded the amount of the owner’s net

proceeds reserved by him or her pursuant to NRS

645.8781.

      2.  If an escrow agent deposits an owner’s

net proceeds with a district court pursuant to subsection 1, the escrow agent

is discharged from any further liability concerning those proceeds.

      (Added to NRS by 1999, 1177)

      NRS 645.8791  Civil action concerning claim: Issuance of order to broker to

appear and show cause; effect of failure to appear; hearings; release of

proceeds; frivolous claims; compensatory damages; award of costs and attorney’s

fees to prevailing party.

      1.  If a claim is recorded pursuant to NRS 645.8775, the owner against whom the claim is

recorded may:

      (a) File a civil action concerning the claim in

the district court of the county where the commercial real estate or a portion

of the commercial real estate is located; and

      (b) At the time the summons is issued or at any

time before the complaint is answered by the real estate broker, apply to the

district court for an order directing the real estate broker to appear before

the court to show cause why the claim should not be dismissed.

      2.  If the court issues an order directing

the real estate broker to appear before the court, the order must:

      (a) State that, if the real estate broker fails

to appear at the time and place specified in the order, the claim will be

dismissed with prejudice pursuant to subsection 3;

      (b) Specify a time and date on which the court

will conduct a hearing on the matter; and

      (c) Establish a period within which the owner

must serve a notice of the order on the real estate broker and the escrow

agent.

      3.  If the real estate broker fails to

appear at the time and place specified in the order issued pursuant to

subsection 2, the court shall issue an order:

      (a) Dismissing the claim with prejudice;

      (b) Cancelling the notice of the claim recorded

pursuant to NRS 645.8775; and

      (c) Requiring the real estate broker to record in

the office of the county recorder of the county where the notice of the claim

is recorded a copy of the order of cancellation issued pursuant to paragraph

(b).

Ê An order

issued pursuant to this subsection must state that the cancellation of the

notice of the claim has the same effect as an expungement of that notice.

      4.  If a hearing is conducted pursuant to

this section, the court shall consider the showing made by the parties at the

hearing and shall make a preliminary determination of which party, with

reasonable probability, is entitled to the amount of the owner’s net proceeds

claimed by the broker pending final adjudication of the claims of the parties.

      5.  If, after the hearing, the district

court determines there is a reasonable probability that:

      (a) The real estate broker is entitled to the

amount of the owner’s net proceeds claimed by him or her, the court shall, if

those proceeds:

             (1) Have been deposited with the court by

the escrow agent pursuant to NRS 645.8785, release

the proceeds to the real estate broker; or

             (2) Have not been deposited with the court

by the escrow agent pursuant to that section, order the escrow agent to release

the proceeds to the real estate broker; or

      (b) The owner is entitled to the amount of the

owner’s net proceeds claimed by the real estate broker, the court shall, if

those proceeds:

             (1) Have been deposited with the court by

the escrow agent pursuant to NRS 645.8785, release

the proceeds to the owner; or

             (2) Have not been deposited with the court

by the escrow agent, order the escrow agent to release the proceeds to the

owner.

      6.  If the owner believes the claim is

frivolous and is made without reasonable cause, the owner may include in the

application submitted pursuant to subsection 1 a request for an order directing

the real estate broker to appear and show cause why the claim should not be

dismissed on those grounds. If the court issues such an order, any hearing

conducted pursuant to that order must be conducted in the manner provided in NRS 108.2275. In addition to any remedy

set forth in that section, the court may award compensatory damages to the

owner.

      7.  The prevailing party in any civil

action filed or hearing conducted pursuant to this section is entitled to

receive:

      (a) Any costs incurred by that party for the

civil action or hearing; and

      (b) A reasonable attorney’s fee.

      8.  Proceedings conducted pursuant to this

section do not affect any rights or remedies otherwise available to the owner

or the real estate broker.

      (Added to NRS by 1999, 1178)

      NRS 645.8795  Priority of recorded claim.

      1.  Except as otherwise provided in

subsection 2, a claim that is recorded pursuant to the provisions of NRS 645.8775 has priority over any other encumbrance,

claim or lien, if the claim of the real estate broker is recorded before the

encumbrance, claim or lien.

      2.  The provisions of subsection 1 do not

apply to a lien recorded pursuant to the provisions of NRS 108.221 to 108.246, inclusive.

      (Added to NRS by 1999, 1179)

      NRS 645.8801  Release of recorded claim.  If

a real estate broker records a claim pursuant to the provisions of NRS 645.8775 and that claim is paid or otherwise

satisfied pursuant to that section, the real estate broker shall, within 3 days

after the claim is paid or otherwise satisfied, record a written release of

that claim. The release must be recorded in the office of the county recorder

where the claim was recorded.

      (Added to NRS by 1999, 1179)

      NRS 645.8805  Service of notice.  Any

notice that is required to be served pursuant to the provisions of NRS 645.8701 to 645.8811,

inclusive, must be served in the manner provided in NRS 108.227.

      (Added to NRS by 1999, 1179)

      NRS 645.8811  Escrow agents: Immunity; collection of fees for services.  An escrow agent:

      1.  Is not liable in any civil action for

any action taken to comply with the provisions of NRS

645.8701 to 645.8811, inclusive.

      2.  May charge and collect a fee from an

owner or real estate broker for any services provided by the escrow agent to

the owner or real estate broker pursuant to NRS

645.8701 to 645.8811, inclusive.

      (Added to NRS by 1999, 1179)

UNLAWFUL ACTS; PENALTIES

      NRS 645.990  Unlawful acts; penalties.

      1.  A person who:

      (a) Obtains or attempts to obtain a license

pursuant to this chapter by means of intentional misrepresentation, deceit or

fraud; or

      (b) Sells or attempts to sell in this State any

interest in real property by means of intentional misrepresentation, deceit or

fraud,

Ê is guilty of

a category D felony and shall be punished as provided in NRS 193.130. In addition to any other

penalty, the court shall order the person to pay restitution.

      2.  Any licensee, permittee or

owner-developer who commits an act described in NRS

645.630, 645.633 or 645.635

shall be punished by a fine of not more than $5,000 for each offense.

      3.  A person who violates any other

provision of this chapter, if a natural person, is guilty of a gross

misdemeanor, and if a limited-liability company, partnership, association or

corporation, shall be punished by a fine of not more than $2,500.

      4.  Any officer or agent of a corporation,

or member or agent of a limited-liability company, partnership or association,

who personally participates in or is an accessory to any violation of this

chapter by the limited-liability company, partnership, association or

corporation, is subject to the penalties prescribed in this section for natural

persons.

      5.  The provisions of this section do not

release a person from civil liability or criminal prosecution pursuant to the

general laws of this State.

      6.  The Administrator may prefer a

complaint for violation of NRS 645.230 before any

court of competent jurisdiction and may take the necessary legal steps through

the proper legal officers of this State to enforce the provisions thereof.

      7.  Any court of competent jurisdiction may

try any violation of this chapter, and upon conviction, the court may revoke or

suspend the license of the person so convicted, in addition to imposing the

other penalties provided in this section.

      [29:150:1947; 1943 NCL § 6396.29]—(NRS A 1963, 678;

1967, 644; 1979,

1557; 1981,

1330; 1983,

223; 1985,

1278; 1993,

891; 1995,

1312; 1997,

171; 2001,

524; 2003,

3465)

      NRS 645.993  Unlawful to file documents that are false or contain willful,

material misstatement of fact; penalty.

      1.  It is unlawful for any person to file

with the Administrator, the Division or the Commission any notice, statement,

complaint or other document required under the provisions of this chapter which

is false or which contains any willful, material misstatement of fact.

      2.  A person who violates any provision of

this section is guilty of a gross misdemeanor.

      (Added to NRS by 2003, 1289)

      NRS 645.995  Duty to report conviction to Division.

      1.  A licensee, property manager or

owner-developer shall notify the Division in writing if he or she is convicted

of, or enters a plea of guilty, guilty but mentally ill or nolo contendere to:

      (a) A felony relating to the practice of the

licensee, property manager or owner-developer; or

      (b) Any crime involving fraud, deceit,

misrepresentation or moral turpitude.

      2.  A licensee, property manager or

owner-developer shall submit the notification required by subsection 1:

      (a) Not more than 10 days after the conviction or

entry of the plea of guilty, guilty but mentally ill or nolo contendere; and

      (b) When submitting an application to renew a

license, permit or registration issued pursuant to this chapter.

      (Added to NRS by 2007, 1539)