2022 Nevada Revised Statutes
Chapter 645A - Escrow Agencies and Agents
NRS 645A.1955 - Employment of or association with escrow agent: Duties of escrow agency; prohibited actions.
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)
