1. Except as otherwise provided in subsection 2, a licensee may not conduct the business of administering escrows for compensation within any office, suite, room or place of business in which any other business is solicited or engaged in, except a notary public, or in association or conjunction with any other business, unless authority to do so is given by the Commissioner.
2. A licensee may conduct the business of administering escrows pursuant to this chapter in the same office or place of business as a mortgage company if:
(a) The licensee and the mortgage company:
(1) Operate as separate legal entities;
(2) Maintain separate accounts, books and records;
(3) Are subsidiaries of the same parent corporation; and
(4) Maintain separate licenses; and
(b) The mortgage company is licensed by this state pursuant to chapter 645B of NRS.
(Added to NRS by 1993, 503; A 1999, 3764; 2003, 3540; 2017, 3035)
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.