Brokers may share compensation with any of the following licensed persons except?

[Rev. 5/2/2022 8:24:02 AM--2021]

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.

NRS 645.0445�������� Applicability of chapter.

ADMINISTRATION

NRS 645.045���������� Administration by Real Estate Division.

NRS 645.050���������� Real Estate Commission: Creation; number and appointment of members; powers and duties; regulations; 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.

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; restrictions.

NRS 645.140���������� Deposit and use of money received by Division; salary of members; per diem allowance and travel expenses of members and employees of Commission.

NRS 645.142���������� Technology Account for Chapter 645 of NRS.

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 required to prepare and distribute forms setting forth certain duties owed by licensees.

NRS 645.194���������� Real Estate Division required 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 645.250���������� 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; regulations.

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 required 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; maintenance in place of business.

NRS 645.550���������� Broker required to maintain place of business; business required to be conducted 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; regulations.

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 required 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 AND OTHER ACTIONS

NRS 645.610���������� Investigation of actions of licensees and other persons.

NRS 645.615���������� Duty to report certain convictions and pleas to Division.

NRS 645.620���������� Maintenance by Division of record of complaints, investigations and denials of applications.

NRS 645.625���������� Certain records relating to complaint or 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.

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���������� Investigations, disciplinary or other 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���������� Fees; regulations.

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.

PROHIBITED ACTS; PENALTIES; ENFORCEMENT

NRS 645.990���������� Unlawful acts; penalties.

NRS 645.993���������� Unlawful to file documents that are false or contain willful, material misstatement of fact; penalty.

_________

GENERAL PROVISIONS

����� NRS 645.0005Definitions.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 645.044Use 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)

����� NRS 645.0445 Applicability of chapter.

����� 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 savings bank 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)—(Substituted in revision for NRS 645.240)

ADMINISTRATION

����� NRS 645.045Administration 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 645.050Real Estate Commission: Creation; number and appointment of members; powers and duties; regulations; 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 645.060Real 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 645.070Real 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 645.090Real 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 645.100Real Estate Commission: Residency of members.

����� 1. Of the five members appointed to the Commission pursuant to NRS 645.050:

����� (a) Three members must reside in or have a principal place of business located in Clark County;

����� (b) One member must reside in or have a principal place of business located in Washoe County; and

����� (c) One member must reside in or have a principal place of business located in Carson City or Churchill, Douglas, Elko, Esmeralda, Eureka, Humboldt, Lander, Lincoln, Lyon, Mineral, Nye, Pershing, Storey or White Pine County.

����� 2. For purposes of appointing a member or filling a vacancy in the membership of the Commission, if no qualified person is willing to serve on the Commission from the region prescribed in:

����� (a) Paragraph (a) of subsection 1, the Governor must appoint a qualified person who is willing to serve on the Commission from the region prescribed in paragraph (c) of subsection 1 or, if there is no such person, a qualified person who is willing to serve on the Commission from the region prescribed in paragraph (b) of subsection 1.

����� (b) Paragraph (b) of subsection 1, the Governor must appoint a qualified person who is willing to serve on the Commission from the region prescribed in paragraph (a) of subsection 1 or, if there is no such person, a qualified person who is willing to serve on the Commission from the region prescribed in paragraph (c) of subsection 1.

����� (c) Paragraph (c) of subsection 1, the Governor must appoint a qualified person who is willing to serve on the Commission from the region prescribed in paragraph (b) of subsection 1 or, if there is no such person, a qualified person who is willing to serve on the Commission from the region prescribed in paragraph (a) of subsection 1.

� If there is no qualified person willing to be appointed or to fill a vacancy on the Commission from any region, the seat must be left vacant.

����� 3. At the expiration of the term of a member who is appointed from outside a prescribed region pursuant to paragraph (a), (b) or (c) of subsection 2 or if that member vacates the seat, the Governor must appoint a qualified person from the prescribed region or, if no qualified person is willing to serve on the Commission from that region, appoint a qualified person pursuant to paragraph (a), (b) or (c) of subsection 2, as applicable.

����� 4. The apportionment of members pursuant to subsection 1 is intended to give approximately proportional regional representation on the Commission to the residents of this State. In each regular legislative session following the completion of a decennial census conducted by the Bureau of the Census of the United States Department of Commerce, the apportionment of members on the Commission must be reconsidered to ensure approximately proportional regional representation is maintained. Any reapportionment of a seat pursuant to this subsection does not become effective until the expiration of the term of the member who holds the seat immediately preceding the date of the reapportionment.

����� [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A 1959, 393; 1969, 343, 893; 1981, 1328; 2015, 2684)

����� NRS 645.110Real 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 645.120Administrator: 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 645.130Employees, legal counsel, investigators and other professional consultants of Real Estate Division; restrictions.

����� 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 645.140Deposit and use of money received by Division; salary of members; per diem allowance and travel expenses of members and employees of Commission.

����� 1. Except as otherwise provided in this section and NRS 645.142, 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.

����� 2. 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.

� Any surplus of the fees retained by the Division for the administration of examinations must be deposited with the State Treasurer for credit to the State General Fund.

����� 3. 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.

����� 4. 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.

����� 5. 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; 2015, 2780; 2021, 3533)

����� NRS 645.142Technology Account for Chapter 645 of NRS.

����� 1. The Technology Account for Chapter 645 of NRS is hereby created in the State General Fund. The Administrator shall administer the Account.

����� 2. The interest and income earned on the money in the Account, after deducting any applicable charges, must be credited to the Account. Any money remaining in the Account at the end of the fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.

����� 3. All money collected from the technology fee imposed pursuant to NRS 645.830 must be deposited in the Account and used only to acquire technology for or improve the technology used by the Division to administer the provisions of this chapter, including, without limitation, costs related to acquiring or improving technology, purchasing hardware and software, maintaining the technology and contracting for professional services related to the technology.

����� 4. All claims against the Account must be paid as other claims against the State are paid.

����� (Added to NRS by 2021, 3532)

����� NRS 645.145Real 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 645.150Real 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 645.160Real 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 645.170Real 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, the Real Estate Division shall establish at least one branch office in the northern district of Nevada.

����� (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.

����� 4. As used in this section:

����� (a) �Northern district of Nevada� means 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.

����� (b) �Southern district of Nevada� means that portion of the State lying within the boundaries of the counties of Clark, Esmeralda, Lincoln and Nye.

����� [Part 6:150:1947; A 1949, 433; 1955, 131]—(NRS A 1963, 664; 1995, 993)

����� NRS 645.180Real 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 645.190Powers 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 645.191Authority 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 645.193Real Estate Division required 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 645.194Real Estate Division required 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 645.195Inspection 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 645.200Attorney 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 645.210Injunctions.

����� 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 645.215Investigation 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 645.230Unlawful 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 645.235Administrative 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 645.250 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 645.251Licensee 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 645.252Duties 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 645.253Licensees 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 645.254Additional 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 645.255Waiver 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 645.256Broker 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 645.257Action 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 645.258Duties 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 645.259Liability 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 645.260One 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 645.270Allegation 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 645.280Association 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 645.283Owner-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 645.285Owner-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 645.287Owner-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 645.300Delivery 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 645.310Deposits 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 645.313Other 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 645.315Conditions and limitations on certain advertisements; required disclosures; prohibited acts; regulations.

����� 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 include his or her license number and:

����� (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.

����� 3. The Commission shall by regulation establish the conditions and limitations under which a licensee may advertise under a nickname.

����� (Added to NRS by 1999, 92; A 2003, 932; 2019, 2777)

����� 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 645.3205Dealing 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 645.321Discriminatory 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 645.322Accounting 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 645.323License 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 645.324Forms 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 645.330General 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,

� 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 645.332Applicants 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 645.335Depository 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 645.343Educational 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 which consists of not less than 120 hours 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:

����� (a) The subject of disclosure of required information in real estate transactions, including instruction on methods a seller may use to obtain the required information;

����� (b) Not less than 15 hours of instruction in the preparation of contracts in real estate transactions to the extent allowed in the capacity of a licensee; and

����� (c) Not less than 15 hours of instruction on agency.

����� 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:

����� (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;

����� (b) Three semester units or an equivalent number of quarter units in the principles of real estate;

����� (c) Nine semester units or the equivalent in quarter units of college level courses in real estate appraisal and business or economics;

����� (d) Nine semester units or the equivalent in quarter units of college level courses in real estate, business or economics;

����� (e) Three semester units or an equivalent number of quarter units in broker management;

����� (f) Not less than one semester unit or an equivalent number of quarter units of instruction in the preparation of contracts in real estate transactions to the extent allowed in the capacity of a licensee; and

����� (g) Not less than one semester unit or an equivalent number of quarter units of instruction on agency.

����� 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; 2019, 2777)

����� NRS 645.345Regulations 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 645.350Application: 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 645.355Investigation 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 645.358Payment 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 645.358Payment 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 645.370Issuance 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 645.380Issuance 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 645.385Waiver 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 645.387Issuance 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,

� 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 645.400Additional 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 645.410Regulations 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 645.420Action 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 645.430Restrictions 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 645.440Denial 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 645.450Time 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 645.460Examination: 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 645.475Examination 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 645.490Issuance 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 12 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 24 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; 2015, 2781)

����� NRS 645.495Nonresident licensee required 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 645.510Authority 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 645.520Form 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 645.530Delivery; display; maintenance in place of business.

����� 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) Maintain 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. The licenses must be kept in a secure manner and, upon request, made available for inspection by the public and the Division during usual business hours.

����� 3. Each owner-developer shall maintain in his or her place of business the license of each real estate broker-salesperson and salesperson employed by him or her. The licenses must be kept in a secure manner and, upon request, made available for inspection by the public and the Division during usual business hours.

����� [Part 17:150:1947; A 1949, 433; 1955, 77]—(NRS A 1975, 1549, 1641; 1979, 1546; 1981, 1034; 2019, 2778)

����� NRS 645.550Broker required to maintain place of business; business required to be conducted 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 645.560Broker: 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 645.570Notice 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 645.575Continuing education: Standards; renewal or reinstatement of license; regulations.

����� 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:

����� (a) Require a minimum of 36 hours of continuing education; and

����� (b) 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:

����� (a) Shall, without limitation, adopt by regulation standards for continuing education that set forth certain mandatory subject matter which must be completed by every person who is licensed as a real estate broker, real estate broker-salesperson or real estate salesperson. Standards which are adopted pursuant to this section must authorize a person who is 65 years of age or older to apply to the Division for an exemption from any requirement to complete continuing education other than the mandatory subject matter which is set forth in regulations adopted pursuant to this paragraph if the person has been licensed in good standing as a real estate broker, real estate broker-salesperson or real estate salesperson in this State for 30 years or longer at the time of his or her application for an exemption.

����� (b) May, without limitation, adopt by regulation standards for continuing education that:

������������ (1) Establish a postlicensing curriculum of continuing education which must be completed by a person within the first year immediately after the initial licensing of the person.

������������ (2) 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 (e) of subsection 2 of NRS 645.343, before the person�s license is reissued or reinstated.

����� 4. Except as otherwise provided in this subsection and regulations adopted pursuant to paragraph (a) of subsection 3, 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; 2019, 2779)

����� NRS 645.577Placement 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 645.580Termination 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 645.590Termination 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 645.600Inactive 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 645.605Certificate 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 645.6051Broker required 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 12 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; A 2017, 3965)

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 645.6054Permit 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,

� 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 645.6055Designated 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 645.6056Property 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 645.6058Disposition 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 AND OTHER ACTIONS

����� NRS 645.610Investigation 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 645.615Duty to report certain convictions and pleas 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)—(Substituted in revision for NRS 645.995)

����� NRS 645.620Maintenance 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 645.625Certain records relating to complaint or 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 645.630Authorized 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 645.633Additional 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.

����� 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.

����� (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; 2015, 2778)

����� NRS 645.635Additional 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, sexual orientation, gender identity or expression, 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; 2017, 1077)

����� NRS 645.645Additional 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 645.647Additional 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 645.648Suspension 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 645.660Knowledge 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 645.670Effect 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 645.675Investigations, disciplinary or other 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 645.680Revocation, 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 645.685Revocation, 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 645.690Revocation, 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 645.700Power 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 645.710Fees 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 645.720Enforcement 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,

� 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 645.730Depositions; 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 645.740Decision 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 645.760Decision 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 645.770Restrictions 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 645.780Expiration 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 12 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 24 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 24 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; 2015, 2781)

����� NRS 645.785Effect 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 645.830Fees; regulations.

����� 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������ $105

For each original real estate salesperson�s license.............................................. 85

For each original branch office license............................................................... 120

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............................................................................................................................... 40

For each renewal of a real estate broker�s, broker-salesperson�s or corporate broker�s license�������������� 180

For each renewal of a real estate salesperson�s license................................... 140

For each renewal of a real estate branch office license................................... 110

For each penalty for late filing of a renewal for a broker�s, broker-salesperson�s or corporate broker�s license� 95

For each penalty for late filing of a renewal for a salesperson�s license........ 75

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. In addition to the fees imposed by subsection 1 and NRS 645.843, each applicant for the issuance or renewal of a real estate broker�s, broker-salesperson�s or salesperson�s license issued pursuant to this chapter must pay to the Division a technology fee of $15.

����� 3. 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.

����� 4. 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; 2015, 2782; 2021, 3533)

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 645.842Creation; 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 645.843Payment 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 645.844Recovery 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,

� 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 645.845Administrator 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 645.846Court 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 645.848Distribution 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 645.8491Administrator 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 645.8492Waiver 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 645.8494Disciplinary 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 645.863Permit 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 645.865Permit 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,

� 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 645.867Designated 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 645.8701Definitions.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 NRS 645A.010.

����� (Added to NRS by 1999, 1175; A 2011, 3595; 2015, 2790)

����� NRS 645.8731�Escrow agent� defined.�Escrow agent� has the meaning ascribed to it in NRS 645A.010.

����� (Added to NRS by 1999, 1175; A 2011, 3595; 2015, 2790)

����� 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 645.8761Broker 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 645.8765Requirements 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 645.8771Requirements 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 645.8775Duty 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),

� 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 645.8785Deposit 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,

� 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 645.8791Civil 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).

� 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 645.8795Priority 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 645.8801Release 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 645.8805Service 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 645.8811Escrow 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)

PROHIBITED ACTS; PENALTIES; ENFORCEMENT

����� NRS 645.990Unlawful 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,

� 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 645.993Unlawful 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)

Can a salesperson operate independently in conducting a brokerage business?

Can a licensee act as a single

Which of the following is not required for a broker from a State with a reciprocity agreement with New York?

Which of the following is a requirement for becoming a licensed real estate broker in NY?

What NY law gives the DOS authority to regulate real estate brokers?

Which NY law allows the DOS to revoke suspend fine or reprimand a real estate broker?