2020 Nevada Revised Statutes
Chapter 645B - Mortgage Companies and Mortgage Loan Originators
NRS 645B.0245 - Grounds for denial of license: Control by relative who would be ineligible to be licensed; act or omission of partner, officer or director.
1. If an applicant is a natural person, the Commissioner may refuse to issue a license to the applicant if the Commissioner has reasonable cause to believe that the applicant would be subject to control by a relative who would be ineligible to be licensed pursuant to this chapter.
2. If an applicant is a partnership, corporation or unincorporated association, the Commissioner may refuse to issue a license to the applicant if:
(a) Any member of the partnership or any officer or director of the corporation or unincorporated association has committed any act or omission that would be cause for refusing to issue a license to a natural person; or
(b) The Commissioner has reasonable cause to believe that any member of the partnership or any officer or director of the corporation or unincorporated association would be subject to control by a relative who would be ineligible to be licensed pursuant to this chapter.
(Added to NRS by 1999, 3769)
