NRS645.867. 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)