Section 645B.002 - "Affiliated business" defined1. "Affiliated business" means a business which a mortgage company or any control person or employee of the mortgage company:(a) Directly or indirectly owns or controls a controlling interest of the business;(b) Is a partner, officer, director or trustee of the business; or(c) Conducts the operation of the business.2. As used in this section, "controlling interest" means a majority of the voting stock of a business or any other interest in a business that gives the holder of the interest the power to direct the management or to determine the policy of the business.Nev. Admin. Code § 645B.002
Added to NAC by Comm'r of Mortgage Lending by R087-04, eff. 8-31-2004; A by R125-16A, eff. 1/27/2017; A by R119-19A, eff. 11/9/2023