1. An escrow agent shall not act as or provide the services of an escrow agent on behalf of any escrow agency other than an escrow agency that has notified the Commissioner pursuant to subsection 2 that the escrow agent is employed by and associated with that escrow agency.
2. Before employing or associating with an escrow agent to administer escrows on its behalf, an escrow agency must:
(a) File with the Commissioner, on a form and in a manner prescribed by the Commissioner, a request to associate with the escrow agent; and
(b) Pay the fee required by NRS 645A.040.
3. An escrow agent shall not associate or begin employment with an escrow agency until the Commissioner has provided notice to the escrow agency of acceptance of the request to associate with the escrow agent.
4. An escrow agent shall not directly or indirectly receive any compensation, remuneration or fees related to the business of administering escrows from any escrow agency that the escrow agent is not associated with and employed by pursuant to this section.
(Added to NRS by 2015, 2790)
Structure Nevada Revised Statutes
Chapter 645A - Escrow Agencies and Agents
NRS 645A.021 - Application: Educational prerequisites; regulations.
NRS 645A.034 - Delivery and possession of license of escrow agent; display of licenses.
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.050 - Duties of Commissioner.
NRS 645A.060 - Powers of Commissioner: Subpoenas, oaths and examination of witnesses; penalty.
NRS 645A.067 - Payment of assessment and cooperation in audits and examinations.
NRS 645A.070 - Records of transactions in escrow: Maintenance; filing.
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.130 - Procedures following decision on appeal.
NRS 645A.140 - Powers of Commissioner when agency’s affairs in unsafe condition.
NRS 645A.170 - Limitations on execution or attachment; commingling prohibited.
NRS 645A.171 - Limitations on disbursements.
NRS 645A.193 - Attorney General to represent Division.
NRS 645A.199 - Proof of licensure required in action for collection of compensation.
NRS 645A.200 - Statutory and common-law rights unaffected.
NRS 645A.220 - Transactions by foreign corporations.
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.