[Rev. 5/2/2022 8:25:43 AM--2021]

CHAPTER 645E - MORTGAGE BANKERS

GENERAL PROVISIONS

NRS 645E.010        Definitions. [Repealed.]

NRS 645E.020        “Applicant” defined. [Repealed.]

NRS 645E.030        “Commercial mortgage loan” defined. [Repealed.]

NRS 645E.040        “Commercial property” defined. [Repealed.]

NRS 645E.050        “Commissioner” defined. [Repealed.]

NRS 645E.060        “Depository financial institution” defined. [Repealed.]

NRS 645E.070        “Division” defined. [Repealed.]

NRS 645E.080        “Institutional investor” defined. [Repealed.]

NRS 645E.090        “Licensee” defined. [Repealed.]

NRS 645E.100        “Mortgage banker” defined. [Repealed.]

NRS 645E.105        “Nationwide Mortgage Licensing System and Registry” and “Registry” defined. [Repealed.]

NRS 645E.115        “Wholesale lender” defined. [Repealed.]

NRS 645E.130        Statutory and common-law rights, remedies and punishments unaffected; limitation on actions against State and its officers and employees. [Repealed.]

APPLICABILITY OF CHAPTER; EXEMPTIONS

NRS 645E.150        Exemptions for certain persons and entities. [Repealed.]

NRS 645E.160        Certificate of exemption: Application; fee; automatic expiration; prohibitions; administrative fines; authority to file application for purposes of complying with requirements of Registry; applicability. [Repealed.]

NRS 645E.165        Certificate of exemption: Annual expiration; procedure for renewal; cancellation and reinstatement; fees; duplicate copy; deposit of fees; regulations. [Repealed.]

NRS 645E.170        Exemptions for certain loans: Grounds for granting; revocation; issuance of statement by Commissioner of reasons for granting, denying or revoking. [Repealed.]

MORTGAGE BANKERS

NRS 645E.200        Application for license; application for branch offices; requirements for issuance of license; grounds for denial of license to partnership, corporation or unincorporated association; license for office outside Nevada which conducts business in Nevada. [Repealed.]

NRS 645E.210        Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Commissioner. [Repealed.]

NRS 645E.220        Posting of license; restrictions on transfer or assignment of license. [Repealed.]

NRS 645E.230        Activities authorized by license; dual licensure as mortgage banker and mortgage broker. [Repealed.]

NRS 645E.280        Annual expiration of license; procedure for renewal; cancellation and reinstatement; fees; duplicate copy; deposit of fees; regulations. [Repealed.]

MORTGAGE AGENTS

NRS 645E.290        License required for certain persons who engage in activities as loan originator or who supervise mortgage agents who engage in such activities. [Repealed.]

NRS 645E.291        Supervision of mortgage agents by mortgage banker; requirements; regulations. [Repealed.]

SUPERVISION BY COMMISSIONER

General Provisions

NRS 645E.300        Duties of Commissioner: General supervision and control over mortgage bankers; regulations; investigations; annual or biennial examinations; periodic and special audits; hearings; related fees; classification of certain records and information as confidential. [Repealed.]

NRS 645E.310        Subpoenas; oaths; examination of witnesses; penalty; assessment of costs. [Repealed.]

NRS 645E.315        Written notice of address change; approval by Commissioner; administrative fine. [Repealed.]

NRS 645E.320        Payment of statutory assessment by mortgage banker; duty of mortgage banker to cooperate fully with audits and examinations. [Repealed.]

 

Records and Financial Statements

NRS 645E.350        Records relating to mortgage transactions, financial condition and trust accounts; monthly report to Commissioner; accounting procedures for trust accounts; regulations; records of licensee who operates outside Nevada; mortgage bankers required to submit reports to Registry. [Repealed.]

NRS 645E.360        Annual financial statement; audit of trust accounts; Commissioner authorized to direct submission of financial statement; regulations. [Repealed.]

NRS 645E.370        Records of Commissioner: General provisions governing public inspection and confidentiality. [Repealed.]

NRS 645E.375        Records of Commissioner: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records; disclosure by Commissioner. [Repealed.]

 

Transfer of Stock

NRS 645E.390        Notification of certain transfers required; application to Commissioner for approval of change of control; investigation; waiver. [Repealed.]

ESCROW AND TRUST ACCOUNTS

NRS 645E.420        Escrow account required for fee, salary, deposit or money paid in advance; release from escrow; exceptions; refunds; penalty. [Repealed.]

NRS 645E.430        Trust account required for money deposited to pay taxes or insurance premiums; fiduciary duty of mortgage banker; accounting to debtor and Commissioner; additional duties and prohibitions. [Repealed.]

NRS 645E.440        Limitations on execution or attachment of money in trust account; commingling of money prohibited. [Repealed.]

LOAN PAYMENTS

NRS 645E.470        Limitations on charging late fee, additional amount of interest or other penalty. [Repealed.]

INVESTIGATION OF VIOLATIONS AND UNSAFE PRACTICES; REMEDIAL ACTION

NRS 645E.620        Authority of Commissioner when violation is suspected; referral of violations to district attorney for criminal prosecution; civil action for injunctive relief. [Repealed.]

NRS 645E.630        Authority of Commissioner when unsafe condition or practice is suspected; seizure of property and assets of mortgage banker; duties of Attorney General. [Repealed.]

NRS 645E.640        Persons entitled to correct unsafe conditions and practices; effect of failure to correct; receivership and liquidation of assets. [Repealed.]

DISCIPLINARY AND OTHER ACTIONS

NRS 645E.670        Authorized disciplinary or other action; grounds for disciplinary action; orders imposing discipline deemed public records. [Repealed.]

NRS 645E.680        Suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license. [Repealed.]

NRS 645E.690        Duty of Commissioner to take disciplinary action for certain violations. [Repealed.]

NRS 645E.700        Investigations, actions, disciplinary proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license. [Repealed.]

NRS 645E.710        Act or omission of partner, officer or director deemed act or omission of partnership, corporation or unincorporated association. [Repealed.]

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

PROHIBITED ACTS; PENALTIES; ENFORCEMENT

NRS 645E.800        Exercise of jurisdiction over party to civil action; service of summons to confer jurisdiction. [Repealed.]

NRS 645E.900        Unlawful to conduct business of mortgage banker without being licensed or exempt from licensing. [Repealed.]

NRS 645E.910        Unlawful for foreign corporation, association or business trust to conduct business of mortgage banker without meeting certain requirements. [Repealed.]

NRS 645E.920        Contracts for mortgage transaction voidable for certain violations. [Repealed.]

NRS 645E.930        Civil action authorized for certain violations. [Repealed.]

NRS 645E.950        Penalties for general violations. [Repealed.]

NRS 645E.955        Restitution. [Repealed.]

NRS 645E.960        Penalties for violations relating to escrow or trust accounts. [Repealed.]

_________

GENERAL PROVISIONS

      NRS 645E.010  Definitions.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.020  “Applicant” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.030  “Commercial mortgage loan” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.040  “Commercial property” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.050  “Commissioner” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.060  “Depository financial institution” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.070  “Division” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.080  “Institutional investor” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.090  “Licensee” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.100  “Mortgage banker” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.105  “Nationwide Mortgage Licensing System and Registry” and “Registry” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.115  “Wholesale lender” defined.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.130  Statutory and common-law rights, remedies and punishments unaffected; limitation on actions against State and its officers and employees.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

APPLICABILITY OF CHAPTER; EXEMPTIONS

      NRS 645E.150  Exemptions for certain persons and entities.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.160  Certificate of exemption: Application; fee; automatic expiration; prohibitions; administrative fines; authority to file application for purposes of complying with requirements of Registry; applicability.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.165  Certificate of exemption: Annual expiration; procedure for renewal; cancellation and reinstatement; fees; duplicate copy; deposit of fees; regulations.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.170  Exemptions for certain loans: Grounds for granting; revocation; issuance of statement by Commissioner of reasons for granting, denying or revoking.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

MORTGAGE BANKERS

      NRS 645E.200  Application for license; application for branch offices; requirements for issuance of license; grounds for denial of license to partnership, corporation or unincorporated association; license for office outside Nevada which conducts business in Nevada.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.210  Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Commissioner.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.220  Posting of license; restrictions on transfer or assignment of license.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.230  Activities authorized by license; dual licensure as mortgage banker and mortgage broker.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.280  Annual expiration of license; procedure for renewal; cancellation and reinstatement; fees; duplicate copy; deposit of fees; regulations.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

MORTGAGE AGENTS

      NRS 645E.290  License required for certain persons who engage in activities as loan originator or who supervise mortgage agents who engage in such activities.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.291  Supervision of mortgage agents by mortgage banker; requirements; regulations.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

SUPERVISION BY COMMISSIONER

General Provisions

      NRS 645E.300  Duties of Commissioner: General supervision and control over mortgage bankers; regulations; investigations; annual or biennial examinations; periodic and special audits; hearings; related fees; classification of certain records and information as confidential.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.310  Subpoenas; oaths; examination of witnesses; penalty; assessment of costs.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.315  Written notice of address change; approval by Commissioner; administrative fine.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.320  Payment of statutory assessment by mortgage banker; duty of mortgage banker to cooperate fully with audits and examinations.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

Records and Financial Statements

      NRS 645E.350  Records relating to mortgage transactions, financial condition and trust accounts; monthly report to Commissioner; accounting procedures for trust accounts; regulations; records of licensee who operates outside Nevada; mortgage bankers required to submit reports to Registry.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.360  Annual financial statement; audit of trust accounts; Commissioner authorized to direct submission of financial statement; regulations.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.370  Records of Commissioner: General provisions governing public inspection and confidentiality.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.375  Records of Commissioner: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records; disclosure by Commissioner.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

Transfer of Stock

      NRS 645E.390  Notification of certain transfers required; application to Commissioner for approval of change of control; investigation; waiver.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

ESCROW AND TRUST ACCOUNTS

      NRS 645E.420  Escrow account required for fee, salary, deposit or money paid in advance; release from escrow; exceptions; refunds; penalty.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.430  Trust account required for money deposited to pay taxes or insurance premiums; fiduciary duty of mortgage banker; accounting to debtor and Commissioner; additional duties and prohibitions.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.440  Limitations on execution or attachment of money in trust account; commingling of money prohibited.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

LOAN PAYMENTS

      NRS 645E.470  Limitations on charging late fee, additional amount of interest or other penalty.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

INVESTIGATION OF VIOLATIONS AND UNSAFE PRACTICES; REMEDIAL ACTION

      NRS 645E.620  Authority of Commissioner when violation is suspected; referral of violations to district attorney for criminal prosecution; civil action for injunctive relief.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.630  Authority of Commissioner when unsafe condition or practice is suspected; seizure of property and assets of mortgage banker; duties of Attorney General.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.640  Persons entitled to correct unsafe conditions and practices; effect of failure to correct; receivership and liquidation of assets.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

DISCIPLINARY AND OTHER ACTIONS

      NRS 645E.670  Authorized disciplinary or other action; grounds for disciplinary action; orders imposing discipline deemed public records.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.680  Suspension of license for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.690  Duty of Commissioner to take disciplinary action for certain violations.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.700  Investigations, actions, disciplinary proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.710  Act or omission of partner, officer or director deemed act or omission of partnership, corporation or unincorporated association.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.750  Duty of Commissioner to provide written notice of disciplinary action or denial of license; right to administrative hearing; entry of final order; appeals.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

PROHIBITED ACTS; PENALTIES; ENFORCEMENT

      NRS 645E.800  Exercise of jurisdiction over party to civil action; service of summons to confer jurisdiction.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.900  Unlawful to conduct business of mortgage banker without being licensed or exempt from licensing.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.910  Unlawful for foreign corporation, association or business trust to conduct business of mortgage banker without meeting certain requirements.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.920  Contracts for mortgage transaction voidable for certain violations.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.930  Civil action authorized for certain violations.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.950  Penalties for general violations.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.955  Restitution.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)

 

      NRS 645E.960  Penalties for violations relating to escrow or trust accounts.  Repealed. (See chapter 486, Statutes of Nevada 2017, at page 3106.)