Nevada Revised Statutes
Chapter 645A - Escrow Agencies and Agents
NRS 645A.090 - Grounds for refusal to issue license or for disciplinary action; orders imposing discipline deemed public records.


1. The Commissioner may refuse to license any escrow agent or agency or may suspend, revoke or place conditions upon any license or impose a fine on any person of not more than $25,000 for each violation by entering an order to that effect, with the Commissioner’s findings in respect thereto, if upon a hearing, it is determined that the applicant, licensee or person:
(a) In the case of an escrow agency, is insolvent;
(b) Has violated any provision of this chapter, any regulation adopted pursuant thereto or an order of the Commissioner or has aided and abetted another to do so;
(c) In the case of an escrow agency, is in such a financial condition that he or she cannot continue in business with safety to his or her customers;
(d) Has committed fraud in connection with any transaction governed by this chapter;
(e) Has intentionally or knowingly made any misrepresentation or false statement to, or concealed any essential or material fact from, any principal or designated agent of a principal in the course of the escrow business;
(f) Has intentionally or knowingly made or caused to be made to the Commissioner any false representation of a material fact or has suppressed or withheld from the Commissioner any information which the applicant, licensee or person possesses;
(g) Has failed without reasonable cause to furnish to the parties of an escrow their respective statements of the settlement within a reasonable time after the close of escrow;
(h) Has failed without reasonable cause to deliver, within a reasonable time after the close of escrow, to the respective parties of an escrow transaction any money, documents or other properties held in escrow in violation of the provisions of the escrow instructions;
(i) Has refused to permit an examination by the Commissioner of his or her books and affairs or has refused or failed, within a reasonable time, to furnish any information or make any report that may be required by the Commissioner pursuant to the provisions of this chapter;
(j) Has been convicted of, entered or agreed to enter a plea of guilty or nolo contendere to, a felony relating to the practice of escrow agents or agencies or any felony or misdemeanor of which an essential element is an act of fraud, dishonesty or a breach of trust, moral turpitude or money laundering;
(k) In the case of an escrow agency, has failed to maintain complete and accurate records of all transactions within the last 6 years;
(l) Has commingled the money of others with his or her own or converted the money of others to his or her own use;
(m) Has failed, before the close of escrow, to obtain written escrow instructions concerning any essential or material fact or intentionally failed to follow the written instructions which have been agreed upon by the parties and accepted by the holder of the escrow;
(n) Has failed to disclose in writing that he or she is acting in the dual capacity of escrow agent or agency and undisclosed principal in any transaction;
(o) In the case of an escrow agency, has:
(1) Failed to maintain adequate supervision of an escrow agent; or
(2) Instructed an escrow agent to commit an act which would be cause for the revocation of the escrow agent’s license and the escrow agent committed the act. An escrow agent is not subject to disciplinary action by the Commissioner for committing such an act under instruction by the escrow agency;
(p) In the case of an escrow agency, if the applicant or licensee is a partnership, corporation or unincorporated association, has a member of the partnership or an officer or director of the corporation or unincorporated association who has been convicted of, entered or agreed to enter a plea of guilty or nolo contendere to, a felony in a domestic, foreign or military court relating to the practice of escrow agents or agencies, or any felony or misdemeanor of which an essential element is an act of fraud, dishonesty or a breach of trust, moral turpitude or money laundering; or
(q) In the case of a person who performs the services of a construction control, has failed to comply with the provisions of chapter 627 of NRS.
2. It is sufficient cause for the imposition of a fine or the refusal, suspension or revocation of, or the placement of conditions upon, the license of a partnership, corporation or any other association that any member of the partnership or any officer or director of the corporation or association has been guilty of any act or omission which would be cause for such action had the applicant or licensee been a natural person.
3. The Commissioner may suspend any license for not more than 30 days, pending a hearing, if upon examination into the affairs of the licensee it is determined that any of the grounds enumerated in subsection 1 or 2 exist.
4. The Commissioner may refuse to issue a license to any person who, within 10 years before the date of applying for a current license, has had suspended or revoked a license issued pursuant to this chapter or a comparable license issued by any other state, district or territory of the United States or any foreign country.
5. An order that imposes discipline and the findings of fact and conclusions of law supporting that order are public records.
(Added to NRS by 1973, 1308; A 1985, 1813; 1991, 1852; 1993, 505; 2003, 2719, 3467; 2009, 742; 2011, 3600)

Structure Nevada Revised Statutes

Nevada Revised Statutes

Chapter 645A - Escrow Agencies and Agents

NRS 645A.010 - Definitions.

NRS 645A.013 - Inapplicability of chapter to participant in Regulatory Experimentation Program for Product Innovation; exceptions.

NRS 645A.015 - Unlawful to engage in business of administering escrows or act in capacity of escrow agent or escrow agency without license; exceptions.

NRS 645A.020 - Application for initial license or renewal: Requirements; issuance or renewal; continuing obligation to notify Division of material change in information in application; restriction.

NRS 645A.021 - Application: Educational prerequisites; regulations.

NRS 645A.025 - Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Commissioner. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establis...

NRS 645A.032 - Contents of license; escrow agent may associate with and be employed by only one escrow agency at same time.

NRS 645A.034 - Delivery and possession of license of escrow agent; display of licenses.

NRS 645A.036 - Place of business: Maintenance by escrow agency; specification in application; designation on license; effect.

NRS 645A.038 - License not transferable.

NRS 645A.039 - Continuing education: Standards; regulations.

NRS 645A.040 - Expiration; renewal; fees; deposit of money received.

NRS 645A.0405 - Authority of Commissioner to require submission of certain documents, fees and fines through Registry; deposit of fees, assessments and penalties.

NRS 645A.041 - Duty of escrow agency to deposit surety bond with Commissioner; escrow agents must be named as principals on bond; form and amount of bond; exceptions.

NRS 645A.042 - Escrow agency may deposit substitute form of security in lieu of surety bond; amount deposited must equal amount of bond; interest or dividends accrue to depositor.

NRS 645A.043 - Cancellation of bond: Notices required; revocation of license unless equivalent bond or substitute form of security furnished.

NRS 645A.047 - Action on bond: Procedure; limitation of time; duties of Commissioner; preliminary payment by surety; action for interpleader; payment.

NRS 645A.050 - Duties of Commissioner.

NRS 645A.060 - Powers of Commissioner: Subpoenas, oaths and examination of witnesses; penalty.

NRS 645A.065 - Fees for supervision, investigation and examination of persons; standards for supervision of escrow agents; regulations.

NRS 645A.067 - Payment of assessment and cooperation in audits and examinations.

NRS 645A.070 - Records of transactions in escrow: Maintenance; filing.

NRS 645A.080 - Records of Commissioner: General provisions governing public inspection and confidentiality.

NRS 645A.082 - Records of Commissioner: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records.

NRS 645A.085 - Change in ownership of voting stock of escrow agency.

NRS 645A.086 - Duty of Commissioner to take disciplinary action for certain violations.

NRS 645A.090 - Grounds for refusal to issue license or for disciplinary action; orders imposing discipline deemed public records.

NRS 645A.095 - 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 sta...

NRS 645A.097 - Investigation, disciplinary or other proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license.

NRS 645A.100 - Notice of refusal to issue license or of disciplinary action; hearing; limitation on time to apply for hearing.

NRS 645A.110 - Investigation by Commissioner; powers of Commissioner; injunctive relief; enforcement of subpoenas.

NRS 645A.130 - Procedures following decision on appeal.

NRS 645A.140 - Powers of Commissioner when agency’s affairs in unsafe condition.

NRS 645A.150 - Receivership.

NRS 645A.160 - Requirements.

NRS 645A.170 - Limitations on execution or attachment; commingling prohibited.

NRS 645A.171 - Limitations on disbursements.

NRS 645A.173 - Duty to record certain information concerning real estate brokers and salespersons and mortgage companies.

NRS 645A.175 - Duty to execute documents necessary to release money deposited in escrow; exception for good faith disputes; recovery of damages for failure to execute; award of attorney’s fees.

NRS 645A.177 - Action to recover money deposited in escrow; discharge from further responsibility for holder of escrow; right of holder to bring action for interpleader.

NRS 645A.193 - Attorney General to represent Division.

NRS 645A.195 - Escrow agency that is not natural person to designate natural person as qualified employee.

NRS 645A.1955 - Employment of or association with escrow agent: Duties of escrow agency; prohibited actions.

NRS 645A.196 - Termination of employment of escrow agent: Duties of escrow agency; prohibited actions.

NRS 645A.199 - Proof of licensure required in action for collection of compensation.

NRS 645A.200 - Statutory and common-law rights unaffected.

NRS 645A.201 - Exercise of jurisdiction over party to civil action; service of summons to confer jurisdiction.

NRS 645A.215 - Prohibition on administering escrows in same location as or in conjunction with other businesses; exceptions.

NRS 645A.220 - Transactions by foreign corporations.

NRS 645A.221 - Contracts for escrow transaction voidable for certain violations; administrative fines.

NRS 645A.222 - Civil action authorized for certain violations.

NRS 645A.224 - Employee of Division prohibited from interest in escrow agency.

NRS 645A.225 - Charge for statement of interest payments prohibited.

NRS 645A.230 - Penalties for violations.

NRS 645A.235 - Restitution.