Nev. Rev. Stat. § 645B.093

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 645B.093 - Commingling certain money prohibited

1. A mortgage company who is a broker-dealer or a sales representative licensed pursuant to NRS 90.310 or who is exempt from licensure pursuant to NRS 90.320:

(a) Shall not commingle money received for mortgage transactions and money received for securities transactions; and

(b) Shall ensure that all money received for mortgage transactions is accounted for separately from all money received for securities transactions.

2. A mortgage company who is an investment adviser or a representative of an investment adviser licensed pursuant to NRS 90.330 or exempt from licensure pursuant to NRS 90.340 or 90.345:

(a) Shall not commingle money received for mortgage transactions and money received for securities transactions; and

(b) Shall ensure that all money received for mortgage transactions is accounted for separately from all money received for securities transactions.

NRS 645B.093

Added to NRS by 2007, 951; A 2017, 3049; 2021, 249

Amended by 2021, Ch. 60,§10, eff. 7/1/2022.

Amended by 2017, Ch. 486,§25, eff. 1/1/2020.

Added to NRS by 2007, 951