GENERAL PROVISIONS

NRS 645B.010. Definitions.

NRS 645B.0104. “Clerical or ministerial tasks” defined.

NRS 645B.0105. “Commissioner” defined.

NRS 645B.0107. “Construction control” defined.

NRS 645B.0109. “Depository financial institution” defined.

NRS 645B.0111. “Division” defined.

NRS 645B.0112. “Dwelling” defined.

NRS 645B.01125. “Employee” defined.

NRS 645B.0113. “Escrow agency” defined.

NRS 645B.0115. “Escrow agent” defined.

NRS 645B.0117. “Escrow officer” defined.

NRS 645B.0119. “Financial services license or registration” defined.

NRS 645B.0121. “Investor” defined.

NRS 645B.0123. “Licensee” defined.

NRS 645B.0124. “Loan processor” defined.

NRS 645B.01245. “Majority of the investors” defined.

NRS 645B.0125. “Mortgage agent” defined.

NRS 645B.0127. “Mortgage broker” defined.

NRS 645B.0128. “Nationwide Mortgage Licensing System and Registry” and “Registry” defined.

NRS 645B.0129. “Policy of title insurance” defined.

NRS 645B.01305. “Private investor” defined.

NRS 645B.0131. “Relative” defined.

NRS 645B.0132. “Residential mortgage loan” defined.

NRS 645B.01325. “Residential mortgage loan originator” defined.

NRS 645B.0133. “Title agent” defined.

NRS 645B.0135. “Title insurer” defined.

NRS 645B.0137. Requirements for initial licensing as mortgage broker or mortgage agent; regulations.

NRS 645B.0138. Courses of continuing education: Adoption of regulations by Commissioner.

NRS 645B.0145. Statutory and common-law rights, remedies and punishments unaffected; limitation on actions against State and its officers and employees.

NRS 645B.0147. Fiduciary obligation of licensee to client.

EXEMPTIONS

NRS 645B.015. Exemptions for certain persons and entities.

NRS 645B.016. Certificate of exemption required for certain persons and entities; application; fee; automatic expiration; prohibitions; administrative fine; certificate of exemption for purposes of complying with requirements of Registry; applicability of chapter to persons filing application for purpose of complying with requirements of Registry.

NRS 645B.018. Exemptions for certain loans; application; grounds for granting exemption; powers and duties of Commissioner.

LICENSING OF MORTGAGE BROKERS

NRS 645B.020. Application for license; application for branch offices; requirements for issuance of license; license for office outside Nevada which conducts business in Nevada.

NRS 645B.021. Mortgage broker who is not natural person to designate natural person as qualified employee; regulations.

NRS 645B.023. Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Commissioner. [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 645B.023. Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Commissioner. [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 645B.0243. Grounds for denial of license: Employing or associating with certain persons who are ineligible to be mortgage agents.

NRS 645B.0245. Grounds for denial of license: Control by relative who would be ineligible to be licensed; act or omission of partner, officer or director.

NRS 645B.0247. Grounds for denial of license: Authority of Commissioner not limited.

NRS 645B.025. Posting of license; restrictions on transfer or assignment of license.

NRS 645B.035. Activities authorized by license; dual licensure as mortgage banker and mortgage broker.

SURETY BONDS

NRS 645B.042. Duty of mortgage broker to deposit surety bond with Commissioner; mortgage broker and mortgage agents must be named as principals on bond; form and amount of bond; Commissioner to determine amount of initial deposit.

NRS 645B.046. Cancellation of bond: Notices required; revocation of license unless equivalent bond furnished.

NRS 645B.048. Action on bond: Procedure; limitation of time; duties of Commissioner; preliminary payment by surety; action for interpleader; payment.

EXPIRATION AND RENEWAL OF BROKER’S LICENSE OR CERTIFICATE OF EXEMPTION; FEES

NRS 645B.050. Annual expiration of license or certificate of exemption; procedure for renewal; fees.

NRS 645B.051. Continuing education required for renewal of license.

SUPERVISION BY COMMISSIONER

General Provisions

NRS 645B.060. Duties of Commissioner: Regulations; investigations; annual examinations; periodic and special audits; hearings; related fees; biennial examinations.

NRS 645B.070. Subpoenas; oaths; examination of witnesses; penalty; assessment of costs.

NRS 645B.075. Payment of statutory assessment by mortgage broker; duty of mortgage broker and agents to cooperate fully with audits and examinations.

Records and Financial Statements

NRS 645B.080. Records relating to mortgage transactions, financial condition and trust accounts; monthly report to Commissioner; accounting procedures for trust accounts; regulations; reports.

NRS 645B.085. Annual financial statement; audit of trust accounts; regulations.

NRS 645B.090. Records of Commissioner: General provisions governing public inspection, confidentiality and disclosure of information relating to investigations, examinations, disciplinary actions and certain investments in promissory notes secured by liens on real property.

NRS 645B.092. Records of Commissioner: Certain records relating to investigation deemed confidential; certain records relating to disciplinary action and orders imposing discipline deemed public records; disclosure by Commissioner.

Commingling Money

NRS 645B.093. Commingling certain money prohibited.

Transfer of Stock

NRS 645B.095. Notification of certain transfers required; application to Commissioner for approval of change of control; investigation; waiver.

Net Worth

NRS 645B.115. Minimum net worth required for certain mortgage brokers; initial and annual determination of net worth; examination by Commissioner; regulations.

ESCROW AND TRUST ACCOUNTS

NRS 645B.165. Escrow account required for fee, salary, deposit or money paid in advance; release from escrow; exceptions; refunds; penalty.

NRS 645B.170. Trust account required for money deposited to pay taxes or insurance premiums; fiduciary duty of mortgage broker; accounting to debtor and Commissioner; additional duties and prohibitions.

NRS 645B.175. Trust or escrow account required for money received from investor to fund loan; trust or escrow account required for money received from debtor to repay loan; release of money; accounting to investor, debtor and Commissioner; additional conditions, limitations and prohibitions; duties of mortgage broker not delegable or transferable; immunity from liability.

NRS 645B.180. Limitations on execution or attachment of money in trust account; commingling of money prohibited.

DISCLOSURES AND ADVERTISING

NRS 645B.185. Use of disclosure forms required; release of financial statements; duties of mortgage broker and agents; prohibitions; powers of Commissioner; regulations.

NRS 645B.186. Disclosure of certain business and personal relationships required.

NRS 645B.187. Prohibition on making certain guarantees in advertisements and solicitations; limitations on payment of premium interest; penalty.

NRS 645B.189. Statements of disclosure required in certain advertisements; review of advertisements by Commissioner; advertisements must comply with state and federal laws concerning deceptive trade practices and deceptive advertising; regulations.

NRS 645B.196. Liability of advertising spokesperson for mortgage broker for certain damages.

LOAN PAYMENTS AND DEFAULTS

NRS 645B.240. Limitations on charging late fee, additional amount of interest or other penalty.

NRS 645B.250. Prohibition on advancing payments to investor on behalf of debtor in default; exceptions.

NRS 645B.260. Monthly report to Commissioner on delinquencies in payments and defaults; monthly notice to investors; regulations.

CONDITIONS AND LIMITATIONS ON CERTAIN MORTGAGE TRANSACTIONS

NRS 645B.300. Written appraisal of real property required; persons authorized to perform appraisal; retention and inspection of appraisal; exceptions.

NRS 645B.305. Requirement that loan include disclosure concerning fees.

NRS 645B.307. Mortgage broker required to include his or her license number or identifying number with loan.

NRS 645B.310. Requirements for mortgage broker to assign interest in loan.

NRS 645B.320. Copy of recorded deed of trust must be mailed to each investor.

NRS 645B.330. Limitations on use of power of attorney.

NRS 645B.340. Multiple holders of beneficial interest in loan: Holders of majority of outstanding principal balance may act on behalf of all holders for certain matters; notice; exception.

NRS 645B.350. Mortgage broker required to provide investors certain options before acquiring ownership or beneficial interest in loan.

NRS 645B.351. Mortgage broker prohibited from including in loan document provision which requires participation in binding arbitration in event of dispute.

NRS 645B.352. Written servicing agreement required before servicing loan.

NRS 645B.353. Mortgage broker prohibited from releasing borrower or guarantor from personal liability without certain approval.

NRS 645B.354. Restrictions on withholding money from certain investors; loan servicing agreement may contain provision which provides written consent to withhold money.

NRS 645B.355. Mortgage broker prohibited from acting as construction control.

NRS 645B.356. Restrictions on placing private investor into certain entities before foreclosure of real property securing loan.

NRS 645B.357. Restriction on collection of fees by mortgage broker; application of fees.

LICENSING AND REGULATION OF MORTGAGE AGENTS

NRS 645B.400. Requirements to provide services of or engage in activities of mortgage agent.

NRS 645B.405. License as mortgage agent required for mortgage broker or qualified employee who engages in or supervises a mortgage agent who engages in activities as residential mortgage loan originator.

NRS 645B.410. Qualifications and procedure for issuance of license; fees.

NRS 645B.420. Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Commissioner. [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 645B.420. Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Commissioner. [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 645B.430. Annual expiration of license; procedure for renewal; continuing education; fees.

NRS 645B.450. Conditions and limitations regarding employment of or association with mortgage agent; duties of mortgage broker, mortgage banker or certain exempt persons upon termination of mortgage agent.

NRS 645B.460. Supervision by mortgage broker; requirements; regulations.

RIGHTS OF BROKERS AND AGENTS DURING MILITARY SERVICE

NRS 645B.490. Right to be placed on inactive status; procedure for reinstatement.

INVESTIGATION OF VIOLATIONS AND UNSAFE PRACTICES; REMEDIAL ACTION

NRS 645B.600. Person may file complaint alleging violation; requirements.

NRS 645B.610. Duties of Commissioner when complaint is filed.

NRS 645B.620. Duties of Commissioner when violation is suspected; referral of violations to Attorney General for criminal prosecution; civil action for injunctive relief.

NRS 645B.630. Duties of Commissioner when unsafe condition or practice is suspected; seizure of property and assets of mortgage broker; duties of Attorney General.

NRS 645B.640. Persons entitled to correct unsafe conditions and practices; effect of failure to correct; receivership and liquidation of assets.

DISCIPLINARY ACTION

NRS 645B.670. Authorized disciplinary action; grounds for disciplinary action.

NRS 645B.680. Suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license. [Effective until 2 years after the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

NRS 645B.690. Duty of Commissioner to take disciplinary action for certain violations.

NRS 645B.700. Categorization of major and minor violations; regulations.

NRS 645B.710. Act or omission of partner, officer or director deemed act or omission of partnership, corporation or unincorporated association.

NRS 645B.720. Authority of Commissioner to order summary suspension of license and take other action to protect public before conducting hearing.

NRS 645B.740. Disciplinary proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license.

HEARINGS; APPEALS

NRS 645B.750. Duty of Commissioner to provide written notice of disciplinary action or denial of license; right to administrative hearing; entry of final order; appeals.

NRS 645B.760. Effect of failure to appear at hearing; penalty.

ENFORCEMENT

NRS 645B.800. Attorney General has primary criminal jurisdiction; duty to provide Attorney General with information to assist prosecution; penalty.

NRS 645B.810. Attorney General may bring civil action; recovery of costs in civil action.

NRS 645B.820. Exercise of jurisdiction over party to civil action; service of summons to confer jurisdiction.

ADVISORY COUNCIL ON MORTGAGE INVESTMENTS AND MORTGAGE LENDING

NRS 645B.860. Creation; members; appointment; terms and vacancies; no compensation or per diem allowance; protections afforded members who are public officers or employees.

NRS 645B.865. Chair and Vice Chair; meetings; quorum; subcommittees.

NRS 645B.870. Purpose.

UNLAWFUL ACTS; PENALTIES; REMEDIES

NRS 645B.900. Unlawful to conduct business of mortgage broker or mortgage agent without being licensed or exempt from licensing.

NRS 645B.910. Unlawful for foreign corporation, association or business trust to conduct business of mortgage broker without meeting certain requirements.

NRS 645B.920. Contracts for mortgage transaction voidable for certain violations.

NRS 645B.930. Civil action authorized for certain violations.

NRS 645B.950. Penalties for general violations.

NRS 645B.955. Commissioner may require licensee to pay restitution.

NRS 645B.960. Penalties for violations relating to escrow or trust accounts.