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)
Structure Nevada Revised Statutes
Chapter 645 - Real Estate Brokers and Salespersons
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.
NRS 645.045 - Administration by Real Estate Division.
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 645.142 - 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 645.200 - Attorney General: Opinions and action as attorney.
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 645.255 - Waiver of duties of licensee prohibited.
NRS 645.258 - Duties concerning transaction involving used manufactured home or used mobile home.
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 645.285 - Owner-developers: Form and contents of application for registration.
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 645.320 - Requirements for exclusive agency representation.
NRS 645.321 - Discriminatory practices unlawful; penalty.
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 645.335 - Depository financial institution prohibited from being licensed.
NRS 645.343 - Educational requirements; regulations of Commission concerning standards of education.
NRS 645.350 - Application: Form and contents.
NRS 645.355 - Investigation of applicant’s background; fees; fingerprints.
NRS 645.370 - Issuance of license to certain organizations doing business as broker; restrictions.
NRS 645.385 - Waiver of requirements of NRS 645.370 and 645.380.
NRS 645.410 - Regulations concerning fees for examination; time for payment of fees.
NRS 645.450 - Time for examinations.
NRS 645.460 - Examination: Subjects covered; acceptance of national examination.
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 645.530 - Delivery; display; maintenance in place of business.
NRS 645.560 - Broker: Erection, maintenance, size and placement of signs.
NRS 645.575 - Continuing education: Standards; renewal or reinstatement of license; regulations.
NRS 645.577 - Placement of license on inactive status; reinstatement.
NRS 645.600 - Inactive status for period of military service; reinstatement.
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 645.610 - Investigation of actions of licensees and other persons.
NRS 645.615 - Duty to report certain convictions and pleas to Division.
NRS 645.660 - Knowledge of associate or employer of violation by licensee or employee; penalties.
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 645.770 - Restrictions on issuance of new license, permit or registration after revocation.
NRS 645.785 - Effect of failure to renew license or permit; increased fee for late renewal.
NRS 645.830 - Fees; regulations.
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 645.846 - Court order requiring payment from 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.
NRS 645.867 - Designated business brokers: Requirements; qualifications; duties.
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.
NRS 645.8781 - Duties of escrow agent upon notice of claim.
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.