1. For each violation committed by an applicant for a registration issued pursuant to NRS 645C.600 to 645C.740, inclusive, whether or not the applicant is issued a registration, the Commission may impose upon the applicant an administrative fine of not more than $10,000 if the applicant:
(a) Has knowingly made or caused to be made to the Commission any false representation of material fact;
(b) Has suppressed or withheld from the Commission any information which the applicant possesses and which, if submitted by the applicant, would have rendered the applicant ineligible to be registered pursuant to the provisions of NRS 645C.600 to 645C.740, inclusive; or
(c) Has violated any provision of NRS 645C.600 to 645C.740, inclusive, a regulation adopted pursuant to NRS 645C.600 to 645C.740, inclusive, or an order of the Commission in completing and filing the application for a registration or during the course of the investigation of the application for a registration.
2. For each violation committed by an appraisal management company, the Commission may impose upon the appraisal management company an administrative fine of not more than $10,000, may suspend, revoke or place conditions on the registration or may do both, if the appraisal management company, whether or not acting as such:
(a) Is grossly negligent or incompetent in performing any act for which the appraisal management company is required to be registered pursuant to NRS 645C.600 to 645C.740, inclusive;
(b) Does not conduct its business in accordance with the law or has violated any provision of this chapter, a regulation adopted pursuant thereto or an order of the Commission;
(c) Has made a material misrepresentation in connection with any transaction governed by this chapter;
(d) Has suppressed or withheld from a client any material facts, data or other information relating to any transaction governed by the provisions of this chapter which the appraisal management company knew or, by the exercise of reasonable diligence, should have known;
(e) Has knowingly made or caused to be made to the Commission any false representation of material fact or has suppressed or withheld from the Commission any information which the appraisal management company possesses and which, if submitted by the appraisal management company, would have rendered the appraisal management company ineligible to be registered pursuant to the provisions of NRS 645C.600 to 645C.740, inclusive;
(f) Has been convicted of, or entered a plea of nolo contendere to, a felony relating to the practice of appraisal or any crime involving fraud, misrepresentation or moral turpitude; or
(g) Has engaged in any other conduct constituting a deceitful, fraudulent or dishonest business practice.
3. The Commission shall revoke the registration of an appraisal management company if the appraiser license or certificate of one of its owners is refused, denied, cancelled, surrendered or revoked in any state.
(Added to NRS by 2009, 1519; A 2019, 487)
Structure Nevada Revised Statutes
Chapter 645C - Appraisers of Real Estate and Appraisal Management Companies
NRS 645C.020 - "Administrator" defined.
NRS 645C.030 - "Appraisal" defined.
NRS 645C.032 - "Appraisal firm" defined.
NRS 645C.034 - "Appraisal management company" defined.
NRS 645C.037 - "Appraisal Subcommittee" defined.
NRS 645C.040 - "Appraiser" defined.
NRS 645C.045 - "Certificate" defined.
NRS 645C.047 - "Certified appraiser" defined.
NRS 645C.050 - "Commission" defined.
NRS 645C.055 - "Complex property" defined.
NRS 645C.060 - "Division" defined.
NRS 645C.065 - "Federal financial institutions regulatory agency" defined.
NRS 645C.067 - "Federally related transaction" defined.
NRS 645C.070 - "Intern" defined.
NRS 645C.080 - "License" defined.
NRS 645C.090 - "Licensed appraiser" defined.
NRS 645C.100 - "Permit" defined.
NRS 645C.110 - "Real estate" defined.
NRS 645C.120 - "Registered intern" defined.
NRS 645C.130 - "Registration card" defined.
NRS 645C.140 - Purpose of chapter.
NRS 645C.150 - Applicability of chapter.
NRS 645C.190 - Commission of Appraisers of Real Estate: Qualifications and oaths of members.
NRS 645C.230 - Publication and sale of manual or guide concerning appraisals.
NRS 645C.240 - Deposit and use of money received by Division; financial support of Division.
NRS 645C.245 - Technology Account for Chapter 645C of NRS.
NRS 645C.250 - Duties of Attorney General.
NRS 645C.280 - Types and scope of licenses and certificates; regulations.
NRS 645C.290 - Application for certificate or license: Form and contents.
NRS 645C.310 - Period for action on application for certificate or license.
NRS 645C.320 - Qualifications for issuance and grounds for denial of certificate or license.
NRS 645C.405 - Duty to report certain convictions and pleas to Division.
NRS 645C.420 - Placement of certificate or license on inactive status; reinstatement.
NRS 645C.440 - Continuing education: Regulations; approval of courses.
NRS 645C.450 - Fees; regulations.
NRS 645C.463 - Disciplinary or other action for failure to pay money owed to Commission or Division.
NRS 645C.470 - Unprofessional conduct of certified or licensed appraiser or registered intern.
NRS 645C.480 - Additional acts of unprofessional conduct of certified or licensed appraiser.
NRS 645C.530 - Administration of oaths; issuance and enforcement of subpoenas.
NRS 645C.540 - Payment of witnesses for fees and mileage.
NRS 645C.702 - Revocation or suspension of registration: Complaint; hearing; notice of hearing.
NRS 645C.704 - Revocation or suspension of registration: Notice of decision.
NRS 645C.550 - Injunctive relief.
NRS 645C.600 - Applicability of provisions.
NRS 645C.610 - Deposit of money collected; claim for attorney’s fees and costs of investigation.
NRS 645C.665 - Registration: Expiration; requirements for renewal; grounds for denial of renewal.
NRS 645C.680 - Fees; regulations.
NRS 645C.710 - Administrative fines: Grounds; amount; related disciplinary action.
NRS 645C.720 - Unlawful to conduct business of appraisal management company without registration.
NRS 645C.730 - Unlawful to influence or attempt to influence appraisal.
NRS 645C.740 - Unlawful to change appraisal submitted by independent contractor.