There is a newer version of the Nevada Revised Statutes
2010 Nevada Code
TITLE 54 PROFESSIONS, OCCUPATIONS AND BUSINESSES
Chapter 645 Real Estate Brokers and Salespersons
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GENERAL PROVISIONS
- NRS 645.0005 Definitions.
- 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. ADMINISTRATION
- NRS 645.045 Administration by Real Estate Division.
- NRS 645.050 Real Estate Commission: Creation; number and appointment of members; powers and duties; service of process.
- 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; northern and southern districts.
- NRS 645.110 Real Estate Commission: Officers.
- NRS 645.120 Administrator: Qualifications; restrictions.
- NRS 645.130 Employees, legal counsel, investigators and other professional consultants of Real Estate Division.
- NRS 645.140 Deposit and use of money received by Division; compensation of members and employees of Commission.
- 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 645.180 Real Estate Division: Seal; general provisions governing public inspection and confidentiality of records; admissibility of certified copies of records as evidence.
- NRS 645.190 Powers of Real Estate Division; regulations of Commission or Administrator; publication of manual or guide.
- NRS 645.191 Authority for Real Estate Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions.
- NRS 645.193 Real Estate Division to prepare and distribute forms setting forth certain duties owed by licensees.
- NRS 645.194 Real Estate Division to prepare booklet concerning certain disclosures required in sale of residential property.
- NRS 645.195 Inspection of records of broker and owner-developer by Division; regulations.
- NRS 645.200 Attorney General: Opinions and action as attorney.
- NRS 645.210 Injunctions.
- NRS 645.215 Investigation by Division of certain transactions relating to unimproved land or subdivision; injunction for fraud, deceit or false advertising. REGULATION OF PRACTICES
- NRS 645.230 Unlawful to engage in certain conduct without license or permit or without complying with certain provisions of chapter; power of Division to file complaint with court and assist in prosecution of violation; prosecution by district attorney or Attorney General.
- NRS 645.235 Administrative fine for engaging in certain conduct without license, permit, certificate, registration or authorization; procedure for imposition of fine; judicial review; exceptions.
- NRS 645.240 Persons to whom chapter does not apply.
- NRS 645.250 Power of cities and towns to license and regulate brokers and salespersons not affected.
- 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 645.253 Licensees affiliated with same brokerage: Additional duties when assigned to separate parties to real estate transaction.
- NRS 645.254 Additional duties of licensee entering into brokerage agreement to represent client in real estate transaction.
- NRS 645.255 Waiver of duties of licensee prohibited.
- NRS 645.257 Action to recover damages suffered as result of licensee's failure to perform certain duties; standard of care.
- NRS 645.258 Duties concerning transaction involving used manufactured home or used mobile home.
- NRS 645.259 Liability of licensee for misrepresentation made by client; failure of seller to make required disclosures is public record.
- 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 645.280 Association with or compensation of unlicensed broker, broker-salesperson or salesperson unlawful; payment of commission other than through broker or owner-developer unlawful.
- NRS 645.283 Owner-developers: Employment of licensed salespersons; association with qualified sales manager; registration.
- NRS 645.285 Owner-developers: Form and contents of application for registration.
- NRS 645.287 Owner-developers: Regulations concerning qualifications; principal place of business and records.
- 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 645.313 Other financial accounts: Investigation and audit involving insolvency of broker or enforcement by Division; regulations governing scope of audit; grounds for disciplinary action.
- NRS 645.314 Administrator may charge broker for costs and fees of audit under certain circumstances; additional grounds for disciplinary action.
- NRS 645.315 Conditions and limitations on certain advertisements; required disclosures; prohibited acts.
- NRS 645.320 Requirements for exclusive agency representation.
- NRS 645.3205 Dealing with party to real estate transaction in manner which is deceitful, fraudulent or dishonest prohibited.
- NRS 645.321 Discriminatory practices unlawful; penalty. ADVANCE FEES
- 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 645.324 Forms of brokerage agreements; reports and forms of accounting; regulations; maintenance of agreements for review and audit; grounds for disciplinary action. LICENSES
- NRS 645.330 General qualifications of applicant; grounds for denial of application; eligibility for licensing as broker.
- NRS 645.332 Applicants licensed in another jurisdiction: Exemption from certain examination requirements; issuance of license as broker or broker-salesperson by reciprocity.
- NRS 645.335 Depository financial institution prohibited from being licensed.
- NRS 645.343 Educational requirements; regulations of Commission concerning standards of education.
- NRS 645.345 Regulations of Division concerning schools and courses of instruction in principles and practice of real estate; standard of instruction.
- NRS 645.350 Application: Form and contents.
- NRS 645.355 Investigation of applicant's background; fees; fingerprints.
- NRS 645.358 Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Division. [Effective until the date of the repeal of the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
- NRS 645.358 Payment of child support: Submission of certain information by applicant; grounds for denial of license; duty of Division. [Effective on the date of the repeal of the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings and expires by limitation 2 years after that date.]
- NRS 645.370 Issuance of license to certain organizations doing business as broker; restrictions.
- NRS 645.380 Issuance of license as broker required for certain members and officers of certain organizations.
- NRS 645.385 Waiver of requirements of NRS 645.370 and 645.380.
- NRS 645.387 Issuance of license as broker-salesperson or salesperson to sole shareholder of corporation on behalf of corporation or to manager of limited-liability company on behalf of company; restrictions; duties; expiration.
- NRS 645.400 Additional information concerning applicants may be required by Division; regulations concerning applications.
- NRS 645.410 Regulations concerning fees for examination; time for payment of fees.
- NRS 645.420 Action on application by Division; additional investigation; invalidation of license for certain errors in issuance.
- NRS 645.430 Restrictions on reapplication after applicant denied license on ground other than failure of examination.
- NRS 645.440 Denial of application: Notice; hearing; written decision; false statement ground for denial.
- NRS 645.450 Time for examinations.
- NRS 645.460 Examination: Subjects covered; acceptance of national examination.
- NRS 645.475 Examination for license as broker may be taken before meeting requirements for experience; issuance of license as broker-salesperson upon passing examination; application and experience required for issuance of license as broker.
- NRS 645.490 Issuance of license; duty of Real Estate Division; renewal of license. [Effective through June 30, 2011.]
- NRS 645.490 Issuance of license; duty of Real Estate Division; renewal of license. [Effective July 1, 2011.]
- NRS 645.495 Nonresident licensee to authorize service of process upon Administrator.
- NRS 645.510 Authority of license limited to person or place of business licensed.
- NRS 645.520 Form and contents; limitation on association with or employment of broker-salesperson or salesperson.
- NRS 645.530 Delivery; display.
- NRS 645.550 Broker to maintain place of business; business must be done from location designated in license; licensing of broker or owner-developer by county, city or town.
- NRS 645.560 Broker: Erection, maintenance, size and placement of signs.
- NRS 645.570 Notice of change of name, location of business or association; requirements for transfer of association; effect of failure to give notice.
- NRS 645.575 Continuing education: Standards; renewal or reinstatement of license.
- NRS 645.577 Placement of license on inactive status; reinstatement.
- NRS 645.580 Termination of association or employment of broker-salesperson or salesperson; duties of broker or owner-developer and broker-salesperson or salesperson; transfer of license or new license.
- NRS 645.590 Termination of association by broker with limited-liability company, partnership or corporation; new license.
- NRS 645.600 Inactive status for period of military service; reinstatement.
- NRS 645.605 Certificate authorizing out-of-state licensed broker to cooperate with broker in Nevada: Issuance; fee; regulations. PROPERTY MANAGERS
- NRS 645.6052 Permit to engage in property management: Persons eligible; requirements; instruction; expiration; renewal; regulations.
- 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 645.6058 Disposition of fees, penalties and fines received by Division; delegation of authority of Division to hearing officer or panel. DISCIPLINARY ACTION
- NRS 645.610 Investigation of actions of licensees and other persons.
- NRS 645.620 Maintenance by Division of record of complaints, investigations and denials of applications.
- NRS 645.625 Certain records relating to investigation deemed confidential; certain records relating to disciplinary action deemed public records.
- NRS 645.630 Authorized disciplinary action; grounds for disciplinary action; orders imposing discipline deemed public records.
- NRS 645.633 Additional grounds for disciplinary action: Improper trade practices; violations of certain orders, agreements, laws and regulations; criminal offenses; other unprofessional and improper conduct; reciprocal discipline; violations relating to property management; log of complaints; reports.
- NRS 645.635 Additional grounds for disciplinary action: Unprofessional and improper conduct relating to real estate transactions.
- NRS 645.645 Additional grounds for disciplinary action: Unprofessional and improper conduct relating to sale of insurance for home protection.
- NRS 645.647 Additional grounds for disciplinary action: Failure to pay money to Commission or Division.
- NRS 645.648 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 the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
- NRS 645.660 Knowledge of associate or employer of violation by licensee or employee; penalties.
- NRS 645.670 Effect on limited-liability company, partnership or corporation of revocation or suspension of license of manager, partner or officer; termination of suspension or reinstatement of license.
- NRS 645.675 Disciplinary proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of license, permit or registration.
- NRS 645.680 Revocation, suspension or denial of renewal of license, permit or registration: Complaint; notice of hearing.
- NRS 645.685 Revocation, suspension or denial of renewal of license, permit or registration: Answer; limitations on time of commencing proceeding.
- NRS 645.690 Revocation, suspension or denial of renewal of license, permit or registration: Hearing; transcript.
- NRS 645.700 Power of Commission to administer oaths, certify acts and issue subpoenas; service of process.
- 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 645.760 Decision final when in favor of licensee; judicial review of decision against licensee.
- NRS 645.770 Restrictions on issuance of new license, permit or registration after revocation. EXPIRATION AND RENEWAL OF LICENSES
- NRS 645.780 Expiration of licenses; length of license periods; additional fee for electronic renewal. [Effective through June 30, 2011.]
- NRS 645.780 Expiration of licenses; length of license periods; additional fees for electronic renewal. [Effective July 1, 2011.]
- NRS 645.785 Effect of failure to renew license; increased fee for late renewal. FEES
- NRS 645.830 Amount of fees. [Effective through June 30, 2011.]
- NRS 645.830 Amount of fees. [Effective July 1, 2011.] REAL ESTATE EDUCATION, RESEARCH AND RECOVERY FUND
- NRS 645.841 "Fund" defined.
- 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 645.845 Administrator may answer petition for recovery; effect of judgment; compromise of claim.
- NRS 645.846 Court order requiring payment from Fund.
- NRS 645.847 Automatic suspension of license upon payment from Fund; conditions for reinstatement of license.
- NRS 645.848 Distribution of payment from Fund if claims exceed maximum liability of Fund; order of payment of claims if balance of Fund insufficient; interest; use of certain money deposited in 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. BUSINESS BROKERS
- NRS 645.863 Permit to engage in business as business broker: Persons eligible; requirements; continuing education; expiration; renewal; regulations.
- NRS 645.865 Permit to engage in business as business broker: Requirements for certain organizations.
- NRS 645.867 Designated business brokers: Requirements; qualifications; duties. BROKERAGE AGREEMENTS INVOLVING COMMERCIAL REAL ESTATE General Provisions
- NRS 645.8701 Definitions.
- 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. Rights, Duties and Liabilities Relating to Commissions
- NRS 645.8761 Broker has claim upon owner's net proceeds for earned commissions; conditions and limitations on enforcement of claim; waiver; inapplicability to third-party claims; obligation to close escrow unaffected by claim.
- NRS 645.8765 Requirements for broker to enforce claim: Written notice to owner and escrow agent; effect of failure to provide notice; exceptions.
- NRS 645.8771 Requirements for broker to enforce claim: Information required in notice; verification by oath; acknowledgment.
- NRS 645.8775 Duty of owner to confirm or deny claim; effect of confirming claim; effect of denying claim or failing to respond; recording of claim by broker.
- NRS 645.8781 Duties of escrow agent upon notice of claim.
- NRS 645.8785 Deposit of proceeds with district court; discharge of escrow agent from further liability concerning proceeds.
- NRS 645.8791 Civil action concerning claim: Issuance of order to broker to appear and show cause; effect of failure to appear; hearings; release of proceeds; frivolous claims; compensatory damages; award of costs and attorney's fees to prevailing party.
- 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. UNLAWFUL ACTS; PENALTIES
- NRS 645.990 Unlawful acts; penalties.
- NRS 645.993 Unlawful to file documents that are false or contain willful, material misstatement of fact; penalty.
- NRS 645.995 Duty to report conviction to Division.
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