EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted. Green numbers along left margin indicate location on the printed bill (e.g., 5-15 indicates page 5, line 15).

1-1 Section 1. NRS 645.002 is hereby amended to read as follows:

1-2 645.002 "Advance fee" means a fee contracted for, claimed,

1-9 by a newspaper of general circulation.

1-10 Sec. 2. NRS 645.035 is hereby amended to read as follows:

1-11 645.035 1. Within the meaning of this chapter, [a "real estate broker-

1-16 in the capacity of a [salesman,] real estate sales associate to do or to deal

2-1 in any act, acts or transactions included within the definition of a real estate

2-2 broker in NRS 645.030.

2-3 2. In this chapter the term "real estate [salesman"] sales associate"

2-4 includes "real estate [broker-salesman"] broker-associate" when

2-5 applicable.

2-6 Sec. 3. NRS 645.040 is hereby amended to read as follows:

2-7 645.040 [Within the meaning of this chapter, a "real estate salesman"

2-12 broker in NRS 645.030, for a compensation or otherwise.

2-13 Sec. 4. NRS 645.090 is hereby amended to read as follows:

2-14 645.090 Each member of the commission must:

2-23 appointment.

2-24 Sec. 5. NRS 645.120 is hereby amended to read as follows:

2-25 645.120 The administrator shall:

2-31 agent [therefor.] for any real estate firm or brokerage firm.

2-32 Sec. 6. NRS 645.130 is hereby amended to read as follows:

2-33 645.130 1. The real estate division may employ:

2-40 any real estate firm or brokerage firm.

2-41 Sec. 7. NRS 645.180 is hereby amended to read as follows:

2-42 645.180 1. The division shall adopt a seal by which it shall

2-43 authenticate its proceedings.

3-1 2. Records kept in the office of the division [under] pursuant to the

3-2 authority of this chapter are open to public inspection [under] pursuant to

3-3 the regulations adopted by the real estate division, except that the division

3-4 may refuse to make public, unless ordered to do so by a court:

3-5 (a) [Real estate brokers’ and real estate salesmen’s examinations;]

3-6 Examinations taken by real estate brokers and real estate sales

3-7 associates;

3-8 (b) Files compiled by the division while investigating possible

3-9 violations of this chapter or chapter 119 of NRS; and

3-10 (c) The criminal and financial records of licensees, applicants for

3-11 licenses and owner-developers.

3-12 3. Copies of all records and papers in the office of the division,

3-13 certified and authenticated by the seal of the division, must be received in

3-14 evidence in all courts equally and with like effect as the originals.

3-15 Sec. 8. NRS 645.230 is hereby amended to read as follows:

3-16 645.230 1. It is unlawful for any person, limited-liability company,

3-17 partnership, association or corporation to engage in the business of, act in

3-18 the capacity of, advertise or assume to act as, a:

3-19 (a) Real estate broker, real estate [broker-salesman or real estate

3-20 salesman] broker-associate or real estate sales associate within the State

3-21 of Nevada without first obtaining the appropriate license from the real

3-22 estate division [as provided for in] pursuant to the provisions of this

3-23 chapter; or

3-24 (b) Property manager within the State of Nevada without first obtaining

3-25 from the real estate division [as provided for in] pursuant to the provisions

3-26 of this chapter a license as a real estate broker, real estate [broker-salesman

3-27 or real estate salesman] broker-associate or real estate sales associate and

3-28 a permit to engage in property management.

3-29 2. The real estate division may prefer a complaint for a violation of

3-30 this section before any court of competent jurisdiction and may assist in

3-31 presenting the law or facts upon any trial for a violation of this section.

3-32 3. The district attorney of each county shall prosecute all violations of

3-33 this section in their respective counties in which violations occur, unless

3-34 prosecuted by the attorney general. Upon the request of the administrator,

3-35 the attorney general shall prosecute any violation of this section in lieu of

3-36 the district attorney.

3-37 Sec. 9. NRS 645.240 is hereby amended to read as follows:

3-38 645.240 1. The provisions of this chapter do not apply to, and the

3-43 owned or leased by them, or to the regular employees [thereof] with

4-1 respect to the property so owned or leased, where those acts are performed

4-2 in the regular course of or as an incident to the management of such

4-3 property and the investment therein. For the purposes of this paragraph,

4-4 "management" means activities which tend to preserve or increase the

4-5 income from the property by preserving the physical desirability of the

4-6 property or maintaining high standards of service to tenants. The term does

4-7 not include sales activities.

4-8 (b) Employee of a real estate broker while engaged in the collection of

4-9 rent for or on behalf of the broker.

4-10 (c) Person while performing the duties of a property manager for a

4-11 property [,] if the person maintains an office on the property and does not

4-12 engage in property management with regard to any other property.

4-13 (d) Person while performing the duties of a property manager for a

4-14 common-interest community governed by the provisions of chapter 116 of

4-15 NRS, a condominium project governed by the provisions of chapter 117 of

4-16 NRS, a time share governed by the provisions of chapter 119A of NRS, or

4-17 a planned unit development governed by the provisions of chapter 278A of

4-18 NRS [,] if the person is a member in good standing of, and, if applicable,

4-19 holds a current certificate, registration or other similar form of recognition

4-20 from, a nationally recognized organization or association for persons

4-21 managing such properties that has been approved by the real estate division

4-22 by regulation.

4-23 2. Except as otherwise provided in NRS 645.606 to 645.609, inclusive,

4-24 the provisions of this chapter do not apply to:

4-25 (a) Any bank, thrift company, credit union, trust company, savings and

4-26 loan association or any mortgage or farm loan association licensed [under]

4-27 pursuant to the laws of this state or of the United States, with reference to

4-28 property it has acquired for development, for the convenient transaction of

4-29 its business, or as a result of foreclosure of property encumbered in good

4-30 faith as security for a loan or other obligation it has originated or holds.

4-31 (b) A corporation which, through its regular officers who receive no

4-32 special compensation for it, performs any of those acts with reference to

4-33 the property of the corporation.

4-34 (c) The services rendered by an attorney at law in the performance of

4-35 his duties as an attorney at law.

4-36 (d) A receiver, trustee in bankruptcy, administrator or executor, or any

4-37 other person doing any of the acts specified in NRS 645.030 [under]

4-38 pursuant to the jurisdiction of any court.

4-39 (e) A trustee acting [under] pursuant to a trust agreement, deed of trust

4-40 or will, or the regular salaried employees thereof.

4-41 (f) The purchase, sale or locating of mining claims or options thereon or

4-42 interests therein.

4-43 (g) The State of Nevada or a political subdivision thereof.

5-1 Sec. 10. NRS 645.250 is hereby amended to read as follows:

5-2 645.250 Nothing contained in this chapter shall affect the power of

5-7 real estate [salesmen.] sales associates.

5-8 Sec. 11. NRS 645.260 is hereby amended to read as follows:

5-9 645.260 Any person, limited-liability company, partnership,

5-18 associate within the meaning of this chapter.

5-19 Sec. 12. NRS 645.270 is hereby amended to read as follows:

5-20 645.270 A person, limited-liability company, partnership, association

5-28 time the alleged cause of action arose.

5-29 Sec. 13. NRS 645.280 is hereby amended to read as follows:

5-30 645.280 1. It is unlawful for any licensed real estate broker, [or

5-43 sales associate is at the time licensed.

6-1 3. It is unlawful for any licensed real estate [broker-salesman or

6-2 salesman] broker-associate or real estate sales associate to pay a

6-3 commission to any person except through the real estate broker or owner-

6-4 developer under whom [he] the real estate broker-associate or real estate

6-5 sales associate is at the time licensed.

6-6 Sec. 14. NRS 645.283 is hereby amended to read as follows:

6-7 645.283 1. An owner-developer who is registered with the real estate

6-15 3. Registration may be kept in force by annual renewal.

6-16 Sec. 15. NRS 645.287 is hereby amended to read as follows:

6-17 645.287 1. Regulations adopted by the [real estate] commission shall

6-23 associates employed by [him.] the owner-developer.

6-24 Sec. 16. NRS 645.310 is hereby amended to read as follows:

6-25 645.310 1. All deposits accepted by every real estate broker or

6-43 any seller or the seller’s authorized agent the whole or any portion of such

7-1 special deposit. The real estate broker is personally responsible and liable

7-2 for such deposit at all times. A real estate broker shall not [permit] allow

7-3 any advance payment of money belonging to others to be deposited in the

7-4 real estate broker’s business or personal account or to be commingled with

7-5 any money he may have on deposit.

7-6 5. Every real estate broker required to maintain a separate trust

7-7 account shall keep records of all money deposited therein. The records

7-8 must clearly indicate the date and from whom he received money, the date

7-9 deposited, the dates of withdrawals, and other pertinent information

7-10 concerning the transaction, and must show clearly for whose account the

7-11 money is deposited and to whom the money belongs. The real estate

7-12 broker shall balance each separate trust account at least monthly. The real

7-13 estate broker shall provide to the division, on a form provided by the

7-14 division, an annual accounting which shows an annual reconciliation of

7-15 each separate trust account. All such records and money are subject to

7-16 inspection and audit by the division and its authorized representatives. All

7-17 such separate trust accounts must designate the real estate broker as trustee

7-18 and provide for withdrawal of money without previous notice.

7-19 6. Each real estate broker shall notify the division of the names of the

7-20 banks in which he maintains trust accounts and specify the names of the

7-21 accounts on forms provided by the division.

7-22 7. If a real estate broker who has money in a trust account dies or

7-23 becomes mentally disabled, the division, upon application to the district

7-24 court, may have a trustee appointed to administer and distribute the money

7-25 in the account with the approval of the court. The trustee may serve

7-26 without posting a bond.

7-27 Sec. 17. NRS 645.323 is hereby amended to read as follows:

7-28 645.323 A person shall not accept an advance fee listing unless he is

7-30 broker-associate or real estate sales associate pursuant to this chapter.

7-31 Sec. 18. NRS 645.330 is hereby amended to read as follows:

7-32 645.330 1. Except as otherwise provided by specific statute, the

7-43 (e) Has passed the examination.

8-1 2. The division:

8-2 (a) May deny a license to any person who has been convicted of, or

8-3 entered a plea of guilty, guilty but mentally ill or nolo contendere to,

8-4 forgery, embezzlement, obtaining money under false pretenses, larceny,

8-5 extortion, conspiracy to defraud, engaging in a real estate business without

8-6 a license, possessing for [the purpose of] sale any controlled substance or

8-7 any crime involving moral turpitude, in any court of competent jurisdiction

8-8 in the United States or elsewhere; and

8-9 (b) Shall not issue a license to such a person until at least 3 years after:

8-10 (1) The person pays any fine or restitution ordered by the court; or

8-11 (2) The expiration of the period of the person’s parole, probation or

8-12 sentence,

8-13 whichever is later.

8-14 3. Suspension or revocation of a license pursuant to this chapter or any

8-15 prior revocation or current suspension in this or any other state, district or

8-16 territory of the United States or any foreign country within 10 years before

8-17 the date of the application is grounds for refusal to grant a license.

8-18 4. A person may not be licensed as a real estate broker unless he has

8-19 been actively engaged as a full-time licensed real estate [broker-salesman

8-20 or salesman] broker-associate or real estate sales associate in this state, or

8-21 actively engaged as a full-time licensed real estate broker,

8-22 [broker-salesman or salesman] real estate broker-associate or real estate

8-23 sales associate in another state or the District of Columbia, for at least 2 of

8-24 the 4 years immediately preceding the issuance of a real estate broker’s

8-25 license.

8-26 Sec. 19. NRS 645.335 is hereby amended to read as follows:

8-27 645.335 1. For the purposes of this section, "depository financial

8-42 estate in this state.

9-1 Sec. 20. NRS 645.343 is hereby amended to read as follows:

9-2 645.343 1. In addition to the other requirements contained in this

9-43 rural county where educational resources are not available and where

10-1 excess travel would work a hardship on the applicant in meeting the

10-2 requirements.

10-3 6. An applicant for a real estate broker’s license pursuant to NRS

10-4 645.350 must meet the educational prerequisites applicable on the date his

10-5 application is received by the real estate division.

10-6 7. For the purposes of this section, "college level courses" are courses

10-7 offered by any accredited college or university or by any other institution

10-8 which meet the standards of education established by the commission. The

10-9 commission may adopt regulations setting forth standards of education

10-10 which are equivalent to the college level courses outlined in this

10-11 subsection. The regulations may take into account the standard of

10-12 instructors, the scope and content of the instruction, hours of instruction

10-13 and such other criteria as the commission requires.

10-14 Sec. 21. NRS 645.345 is hereby amended to read as follows:

10-15 645.345 The division, with the approval of the commission, shall:

10-24 by such schools.

10-25 Sec. 22. NRS 645.350 is hereby amended to read as follows:

10-26 645.350 1. An application for a license as a real estate broker,

10-43 each member must be listed in the application.

11-1 (b) In the case of a real estate broker, the name under which the

11-2 business is to be conducted. The name is a fictitious name if it does not

11-3 contain the name of the applicant or the names of the members of the

11-4 applicant’s company, firm, partnership or association. Except as otherwise

11-5 provided in NRS 645.387, a license must not be issued under a fictitious

11-6 name which includes the name of a real estate [salesman or broker-

11-7 salesman.] sales associate or real estate broker-associate. A license must

11-8 not be issued under the same fictitious name to more than one licensee

11-9 within the state. All licensees doing business under a fictitious name shall

11-10 comply with other pertinent statutory regulations regarding the use of

11-11 fictitious names.

11-12 (c) In the case of a real estate broker, the place or places, including the

11-13 street number, city and county, where the business is to be conducted.

11-14 (d) If the applicant is a natural person, the social security number of the

11-15 applicant.

11-16 (e) The business or occupation engaged in by the applicant for at least 2

11-17 years immediately preceding the date of the application, and the location

11-18 thereof.

11-19 (f) The time and place of the applicant’s previous experience in the real

11-20 estate business as a real estate broker [or salesman.] , real estate broker-

11-21 associate or real estate sales associate.

11-22 (g) Whether the applicant has ever been convicted of or is under

11-23 indictment for a felony or has entered a plea of guilty, guilty but mentally

11-24 ill or nolo contendere to a charge of felony, and if so, the nature of the

11-25 felony.

11-26 (h) Whether the applicant has been convicted of or entered a plea of

11-27 nolo contendere to forgery, embezzlement, obtaining money under false

11-28 pretenses, larceny, extortion, conspiracy to defraud, engaging in the

11-29 business of selling real estate without a license or any crime involving

11-30 moral turpitude.

11-31 (i) Whether the applicant has been refused a real estate broker’s,

11-32 [broker-salesman’s or salesman’s] real estate broker-associate’s or real

11-33 estate sales associate’s license in any state, or whether his license as a real

11-34 estate broker [or salesman] , real estate broker associate or real estate

11-35 sales associate has been revoked or suspended by any other state, district

11-36 or territory of the United States or any other country.

11-37 (j) If the applicant is a member of a limited-liability company,

11-38 partnership or association, or an officer of a corporation, the name and

11-39 address of the office of the limited-liability company, partnership,

11-40 association or corporation of which the applicant is a member or officer.

11-41 3. An applicant for a license as a [broker-salesman or salesman] real

11-42 estate broker-associate or real estate sales associate shall provide a

11-43 verified statement from the real estate broker with whom [he] the real

12-1 estate broker-associate or real estate sales associate will be associated,

12-2 expressing the intent of that real estate broker to associate the applicant

12-3 with him and to be responsible for the applicant’s activities as a licensee.

12-4 4. If a limited-liability company, partnership or association is to do

12-5 business as a real estate broker, the application for a real estate broker’s

12-6 license must be verified by at least two members [thereof.] of the limited-

12-7 liability company, partnership or association. If a corporation is to do

12-8 business as a real estate broker, the application must be verified by the

12-9 president and the secretary [thereof.] of the corporation.

12-10 Sec. 23. NRS 645.355 is hereby amended to read as follows:

12-11 645.355 An applicant for a license as a real estate broker, [broker-

12-19 such other law enforcement agencies as the division may deem necessary.

12-20 Sec. 24. NRS 645.358 is hereby amended to read as follows:

12-21 645.358 1. A natural person who applies for the issuance or renewal

12-43 is not in compliance with the order or a plan approved by the district

13-1 attorney or other public agency enforcing the order for the repayment of

13-2 the amount owed pursuant to the order, the division shall advise the

13-3 applicant to contact the district attorney or other public agency enforcing

13-4 the order to determine the actions that the applicant may take to satisfy the

13-5 arrearage.

13-6 Sec. 25. NRS 645.387 is hereby amended to read as follows:

13-7 645.387 1. Any natural person who meets the qualifications of a real

13-42 5. A license issued pursuant to this section automatically expires upon:

14-1 (a) The death of the licensed shareholder in the corporation or the

14-2 manager of the limited-liability company.

14-3 (b) The issuance of shares in the corporation to more than one person

14-4 other than the spouse.

14-5 6. Nothing in this section alters any of the rights, duties or liabilities

14-6 which otherwise arise in the legal relationship between a real estate broker,

14-7 [broker-salesman or salesman] real estate broker-associate or real estate

14-8 sales associate and a person who deals with him.

14-9 Sec. 26. NRS 645.400 is hereby amended to read as follows:

14-10 645.400 1. In addition to the information required by this chapter,

14-18 application for any examination and license.

14-19 Sec. 27. NRS 645.410 is hereby amended to read as follows:

14-20 645.410 1. The commission shall adopt regulations establishing the

14-31 his application for a license.

14-32 Sec. 28. NRS 645.420 is hereby amended to read as follows:

14-33 645.420 1. The division shall notify each applicant in writing

14-42 or desirable before acting on the applicant’s application.

15-1 4. The burden of proof is on the applicant to establish to the

15-2 satisfaction of the real estate division that he is qualified to receive a

15-3 license.

15-4 5. Passing the examination creates no vested right in the applicant to

15-5 hold a license pending his appeal of a denial of his licensing by the

15-6 division.

15-7 6. The division, upon the discovery of any error in the issuance of a

15-8 license which is related to the qualification or fitness of the licensee, may

15-9 invalidate the license. The division shall promptly notify the licensee, in

15-10 writing, of the invalidation and the licensee shall surrender the license to

15-11 the division within 20 days after notice is sent by the division. A licensee

15-12 whose license is invalidated [under] pursuant to this subsection and is

15-13 surrendered within the time specified is entitled to a hearing as for a denial

15-14 of application in accordance with the provisions of NRS 645.440.

15-15 Sec. 29. NRS 645.475 is hereby amended to read as follows:

15-16 645.475 1. An applicant for a real estate broker’s license may take

15-27 645.330.

15-28 Sec. 30. NRS 645.490 is hereby amended to read as follows:

15-29 645.490 [1. Upon satisfactorily passing the written examination and

15-42 provisions of law and all requirements of this chapter.]

15-43 Sec. 31. NRS 645.520 is hereby amended to read as follows:

16-1 645.520 1. The division shall issue to each licensee a license in such

16-2 form and size as is prescribed by the division.

16-3 2. Each license must:

16-4 (a) Show the name and address of the licensee, and in case of a real

16-5 estate [broker-salesman’s or salesman’s] broker-associate’s or real estate

16-6 sales associate’s license show the name of the real estate broker with

16-7 whom [he] the real estate broker-associate or real estate sales associate

16-8 will be associated.

16-9 (b) Have imprinted [thereon] the seal of the division [.] on the license.

16-10 (c) Contain any additional matter prescribed by the division.

16-11 3. No real estate [broker-salesman or salesman] broker-associate or

16-12 real estate sales associate may be associated with or employed by more

16-13 than one real estate broker or owner-developer at the same time.

16-14 Sec. 32. NRS 645.530 is hereby amended to read as follows:

16-15 645.530 1. The license of each real estate [broker-salesman or

16-16 salesman] broker-associate or real estate sales associate must be delivered

16-17 or mailed to the real estate broker with whom the licensee is associated or

16-18 to the owner-developer by whom [he] the licensee is employed and must

16-19 be kept in the custody and control of the real estate broker or owner-

16-20 developer.

16-21 2. Each real estate broker shall:

16-22 (a) Display his license conspicuously in his place of business. If a real

16-23 estate broker maintains more than one place of business within the state, an

16-24 additional license must be issued to the real estate broker for each branch

16-25 office so maintained by him, and the additional license must be displayed

16-26 conspicuously in each branch office.

16-27 (b) Prominently display in his place of business the [licenses of all]

16-28 license of each real estate [broker-salesmen and salesmen] broker-

16-29 associate and real estate sales associate associated with [him therein] the

16-30 real estate broker in his place of business or in connection [therewith.]

16-31 with his place of business.

16-32 3. Each owner-developer shall prominently display in his place of

16-33 business the license of each real estate [broker-salesman and salesman]

16-34 broker-associate and real estate sales associate employed by him.

16-35 Sec. 33. NRS 645.570 is hereby amended to read as follows:

16-36 645.570 1. [Notice in writing must be given by the broker or a

16-37 corporate officer] The real estate broker or corporate officer must give

16-38 written notice to the division within 10 days [of] after any change of name

16-39 or business location of any licensee or of a change of association of any

16-40 [broker-salesman or salesman] licensee [.] who is a real estate broker-

16-41 associate or real estate sales associate. Upon the surrender of the license

16-42 previously issued and the payment of the fee required [by law] pursuant to

16-43 NRS 645.830, the division shall issue the license for the unexpired term.

17-1 2. Upon the transfer of association of any [broker-salesman or

17-2 salesman licensee, application accompanied by the fee required by law

17-3 must be made] licensee who is a real estate broker-associate or real estate

17-4 sales associate, the licensee must apply and pay in the fee required

17-5 pursuant to NRS 645.830 to the division for the reissuance of the license

17-6 to the [broker-salesman or salesman] real estate broker-associate or real

17-7 estate sales associate for the unexpired term. Such a transfer may only be

17-8 into an association with a licensed real estate broker or registered owner-

17-9 developer who must certify to the honesty, truthfulness and good

17-10 reputation of the transferee.

17-11 3. Failure to give notice as required by this section constitutes cause

17-12 for the revocation of any outstanding license or involuntary inactivation of

17-13 the license.

17-14 Sec. 34. NRS 645.575 is hereby amended to read as follows:

17-15 645.575 1. The commission shall prescribe standards for the

17-43 equivalency with the requirements of paragraph (a) or (b).

18-1 (e) A system of controlling and reporting qualifying attendance.

18-2 (f) A statement of the conditions for which an extension of time may be

18-3 granted to comply with the continuing education requirements as well as a

18-4 method of applying and qualifying for an extension.

18-5 2. The standards prescribed in subsection 1 must [permit] allow

18-6 alternatives of subject material, taking cognizance of specialized areas of

18-7 practice and alternatives in sources of programs considering availability in

18-8 area and time. The standards must include, where qualified, generally

18-9 accredited educational institutions, private vocational schools, educational

18-10 programs and seminars of professional societies and organizations, other

18-11 organized educational programs on technical subjects, or equivalent

18-12 offerings. The commission shall qualify only those educational courses

18-13 that it determines address the appropriate subject matter and are given by

18-14 an accredited university or community college. Subject to the provisions of

18-15 this section, the commission has exclusive authority to determine what is

18-16 an appropriate subject matter for qualification as a continuing education

18-17 course.

18-18 3. Except as otherwise provided in this subsection, the license of a real

18-19 estate broker, [broker-salesman or salesman] real estate broker-associate

18-20 or real estate sales associate must not be renewed or reinstated unless the

18-21 administrator finds that the applicant for the renewal license or for

18-22 reinstatement to active status has completed the continuing education

18-23 required by this chapter. Any amendment or repeal of a regulation does not

18-24 operate to prevent an applicant from complying with this section for the

18-25 next licensing period following the amendment or repeal.

18-26 Sec. 35. NRS 645.577 is hereby amended to read as follows:

18-27 645.577 1. The division may place a license on inactive status for

18-42 (f) As a result of a formal disciplinary proceeding.

19-1 2. Any licensee whose license has been placed on inactive status may

19-2 not engage in the business of a real estate broker, [broker-salesman or

19-3 salesman] real estate broker-associate or real estate sales associate until

19-4 he has met all of the requirements for reinstatement of his license to active

19-5 status.

19-6 Sec. 36. NRS 645.580 is hereby amended to read as follows:

19-7 645.580 1. When any real estate [broker-salesman or salesman]

19-33 and until the license is transferred or reissued or a new license is issued.

19-34 Sec. 37. NRS 645.6052 is hereby amended to read as follows:

19-35 645.6052 1. A person who is licensed pursuant to this chapter as a

19-42 management; and

20-1 (b) Comply with all other requirements established by the commission

20-2 for the issuance of a permit.

20-3 3. A permit expires, and may be renewed, at the same time as the

20-4 license of the holder of the permit.

20-5 4. An applicant for the renewal of a permit must:

20-6 (a) Furnish proof satisfactory to the division that he has successfully

20-7 completed at least 3 of the hours of the continuing education required for

20-8 the renewal of his license pursuant to NRS 645.575 in an approved

20-9 educational course, seminar or conference concerning property

20-10 management; and

20-11 (b) Comply with all other requirements established by the commission

20-12 for the renewal of a permit.

20-13 5. The commission may adopt such regulations as it determines are

20-14 necessary to carry out the provisions of this section. The regulations may,

20-15 without limitation:

20-16 (a) Establish additional requirements for the issuance or renewal of a

20-17 permit.

20-18 (b) Establish a fee for the issuance and renewal of a permit.

20-19 (c) Set forth standards of education for the approval of a course of

20-20 instruction to qualify a person for a permit pursuant to this section.

20-21 Sec. 38. NRS 645.610 is hereby amended to read as follows:

20-22 645.610 The administrator may investigate the actions of any real

20-25 such capacity within this state.

20-26 Sec. 39. NRS 645.630 is hereby amended to read as follows:

20-27 645.630 The commission may require a licensee or owner-developer

20-42 he is employed.

21-1 4. Representing or attempting to represent a real estate broker other

21-2 than the real estate broker with whom he is associated, without the express

21-3 knowledge and consent of the real estate broker with whom he is

21-4 associated.

21-5 5. Failing to maintain, for review and audit by the division, each

21-6 brokerage agreement governed by the provisions of this chapter and

21-7 entered into by the licensee.

21-8 6. Failing, within a reasonable time, to account for or to remit any

21-9 money which comes into his possession and which belongs to others.

21-10 7. If he is required to maintain a trust account:

21-11 (a) Failing to balance the trust account at least monthly; and

21-12 (b) Failing to submit to the division an annual accounting of the trust

21-13 account as required in NRS 645.310.

21-14 8. Commingling the money or other property of his clients with his

21-15 own or converting the money of others to his own use.

21-16 9. In the case of a [broker-salesman or salesman,] real estate broker-

21-17 associate or real estate sales associate, failing to place in the custody of

21-18 his licensed real estate broker or owner-developer, as soon as possible, any

21-19 deposit or other money or consideration entrusted to him by any person

21-20 dealing with him as the representative of his licensed real estate broker.

21-21 10. Accepting other than cash as earnest money unless that fact is

21-22 communicated to the owner before his acceptance of the offer to purchase

21-23 and that fact is shown in the receipt for the earnest money.

21-24 11. Upon acceptance of an agreement, in the case of a real estate

21-25 broker, failing to deposit any check or cash received as earnest money

21-26 before the end of the next banking day unless otherwise provided in the

21-27 purchase agreement.

21-28 12. Inducing any party to a brokerage agreement, sale or lease to break

21-29 it [in order] to substitute a new brokerage agreement, agreement of sale or

21-30 lease with the same or another party if the inducement to make the

21-31 substitution is offered to secure personal gain to the licensee or owner-

21-32 developer.

21-33 If discipline is imposed pursuant to this section, the costs of the

21-34 proceeding, including investigative costs and attorney’s fees, may be

21-35 recovered by the board.

21-36 Sec. 40. NRS 645.633 is hereby amended to read as follows:

21-37 645.633 The commission may take action pursuant to NRS 645.630

21-41 member [,] without the legal right to do so.

22-1 2. Violating any order of the commission, any agreement with the

22-2 division, any of the provisions of this chapter, chapter 116, 119, 119A,

22-3 119B, 645A or 645C of NRS or any regulation adopted thereunder.

22-4 3. Paying a commission, compensation or a finder’s fee to any person

22-5 for performing the services of a real estate broker, [broker-salesman or

22-6 salesman] real estate broker-associate or real estate sales associate who

22-7 has not first secured his license pursuant to this chapter. This subsection

22-8 does not apply to payments to a real estate broker who is licensed in his

22-9 state of residence.

22-10 4. A felony, or has entered a plea of guilty, guilty but mentally ill or

22-11 nolo contendere to a charge of felony or any crime involving fraud, deceit,

22-12 misrepresentation or moral turpitude.

22-13 5. Guaranteeing, or having authorized or [permitted] allowed any

22-14 person to guarantee, future profits which may result from the resale of real

22-15 property.

22-16 6. Failure to include a fixed date of expiration in any written brokerage

22-17 agreement or to leave a copy of the brokerage agreement with the client.

22-18 7. Accepting, giving or charging any undisclosed commission, rebate

22-19 or direct profit on expenditures made for a client.

22-20 8. Gross negligence or incompetence in performing any act for which

22-21 he is required to hold a license pursuant to this chapter, chapter 119, 119A

22-22 or 119B of NRS.

22-23 9. Any other conduct which constitutes deceitful, fraudulent or

22-24 dishonest dealing.

22-25 10. Any conduct which took place before his being licensed, which

22-26 was in fact unknown to the division and which would have been grounds

22-27 for denial of a license had the division been aware of the conduct.

22-28 11. Knowingly [permitting] allowing any person whose license has

22-29 been revoked or suspended to act as a real estate broker, [broker-salesman

22-30 or salesman,] real estate broker-associate or real estate sales associate,

22-31 with or on behalf of the licensee.

22-32 Action may also be taken pursuant to NRS 645.630 against a person

22-33 subject to that section for the suspension or revocation of a real estate

22-34 broker’s, [broker-salesman’s or salesman’s] real estate broker-associate’s

22-35 or real estate sales associate’s license issued to him by any other

22-36 jurisdiction.

22-37 Sec. 41. NRS 645.635 is hereby amended to read as follows:

22-38 645.635 The commission may take action pursuant to NRS 645.630

22-42 authorized by the owner or his authorized agent.

23-1 2. Negotiating a sale, exchange or lease of real estate directly with an

23-2 owner or lessor if he knows that the owner has a brokerage agreement in

23-3 force in connection with the property granting an exclusive agency or an

23-4 exclusive right to sell to another real estate broker, unless permission in

23-5 writing has been obtained from the other real estate broker.

23-6 3. Failure to deliver within a reasonable time a completed copy of any

23-7 purchase agreement or offer to buy or sell real estate to the purchaser or to

23-8 the seller.

23-9 4. Failure to deliver to the seller in each real estate transaction, within

23-10 10 business days after the transaction is closed, a complete, detailed

23-11 closing statement showing all of the receipts and disbursements handled by

23-12 him for the seller, failure to deliver to the buyer a complete statement

23-13 showing all money received in the transaction from the buyer and how and

23-14 for what it was disbursed, or failure to retain true copies of those

23-15 statements in his files. The furnishing of those statements by an escrow

23-16 holder relieves the real estate broker’s, [broker-salesman’s or salesman’s]

23-17 real estate broker-associate’s or real estate sales associate’s responsibility

23-18 and must be deemed to be compliance with this provision.

23-19 5. Representing to any lender, guaranteeing agency or any other

23-20 interested party, verbally or through the preparation of false documents, an

23-21 amount in excess of the actual sale price of the real estate or terms

23-22 differing from those actually agreed upon.

23-23 6. Failure to produce any document, book or record in his possession

23-24 or under his control [,] concerning any real estate transaction under

23-25 investigation by the division.

23-26 7. Failure to reduce a bona fide offer to writing where a proposed

23-27 purchaser requests that it be submitted in writing.

23-28 8. Failure to submit all written bona fide offers to a seller when the

23-29 offers are received before the seller accepts an offer in writing and until the

23-30 real estate broker has knowledge of that acceptance.

23-31 9. Refusing because of race, color, national origin, sex or ethnic group

23-32 to show, sell or rent any real estate for sale or rent to qualified purchasers

23-33 or renters.

23-34 10. Knowingly submitting any false or fraudulent appraisal to any

23-35 financial institution or other interested person.

23-36 Sec. 42. NRS 645.648 is hereby amended to read as follows:

23-37 645.648 1. If the division receives a copy of a court order issued

23-43 person to be suspended at the end of the 30th day after the date on which

24-1 the court order was issued unless the division receives a letter issued to the

24-2 holder of the license by the district attorney or other public agency

24-3 pursuant to NRS 425.550 stating that the holder of the license has

24-4 complied with the subpoena or warrant or has satisfied the arrearage

24-5 pursuant to NRS 425.560.

24-6 2. The division shall reinstate a license as a real estate broker, [broker-

24-7 salesman or salesman] real estate broker-associate or real estate sales

24-8 associate that has been suspended by a district court pursuant to NRS

24-9 425.540 if the division receives a letter issued by the district attorney or

24-10 other public agency pursuant to NRS 425.550 to the person whose license

24-11 was suspended stating that the person whose license was suspended has

24-12 complied with the subpoena or warrant or has satisfied the arrearage

24-13 pursuant to NRS 425.560.

24-14 Sec. 43. NRS 645.660 is hereby amended to read as follows:

24-15 645.660 1. Any unlawful act or violation of any of the provisions of

24-35 commits any unlawful act or violates any of the provisions of this chapter.

24-36 Sec. 44. NRS 645.680 is hereby amended to read as follows:

24-37 645.680 1. The procedure set forth in this section and NRS 645.690

24-42 [thereon] at the hearing in person or by counsel.

25-1 3. The commission shall hold the hearing within 90 days after the

25-2 filing of a complaint by the administrator. The time of the hearing may be

25-3 continued upon the motion of the commission or at the discretion of the

25-4 commission, upon the written request of the licensee or of the division for

25-5 good cause shown.

25-6 4. The licensee must be given at least 30 days’ notice in writing by the

25-7 division of the date, time and place of the hearing together with a copy of

25-8 the complaint and copies of all communications, reports, affidavits or

25-9 depositions in possession of the division relevant to the complaint. The

25-10 division may present evidence obtained after the notice only if the division

25-11 shows that the evidence was not available after diligent investigation

25-12 before the time notice was given to the licensee and that the evidence was

25-13 given or communicated to the licensee immediately after it was obtained.

25-14 5. Notice is complete upon delivery personally to the licensee, or by

25-15 mailing by certified mail to the last known address of the licensee. If the

25-16 licensee is a [broker-salesman or salesman,] real estate broker-associate or

25-17 real estate sales associate, the division shall also notify the real estate

25-18 broker with whom he is associated [,] or the owner-developer by whom he

25-19 is employed [,] by mailing an exact statement of the charges and the date,

25-20 time and place of the hearing by certified mail to the owner-developer or

25-21 real estate broker’s last known address.

25-22 Sec. 45. NRS 645.830 is hereby amended to read as follows:

25-23 645.830 1. The following fees must be charged by and paid to the

25-42 associate’s or corporate real estate broker’s license 85

26-1 For each penalty for late filing of a renewal for a

26-2 [salesman’s] real estate sales associate’s license 65

26-3 For each change of name or address 10

27-1 For each transfer of a real estate [salesman’s or broker-

27-2 salesman’s] sales associate’s or real estate broker-

27-3 associate’s license and change of association or

27-4 employment $10

27-5 For each duplicate license where the original license is lost

27-6 or destroyed, and an affidavit is made thereof 10

27-7 For each change of status from real estate broker to [broker-

27-8 salesman,] real estate broker-associate or the reverse 10

27-9 For each reinstatement to active status of an inactive real

27-10 estate broker’s, [broker-salesman’s or salesman’s] real

27-11 estate broker-associate’s or real estate sales associate’s

27-12 license 10

27-13 For each reinstatement of a real estate broker’s license when

27-14 the licensee fails to give immediate written notice to the

27-15 division of a change of name or business location 20

27-16 For each reinstatement of a real estate [salesman’s or broker-

27-17 salesman’s] sales associate’s or real estate broker-

27-18 associate’s license when he fails to notify the division of a

27-19 change of real estate broker within 30 days [of] after

27-20 termination by previous real estate broker 20

27-21 For each original registration of an owner-developer 100

27-22 For each annual renewal of a registration of an owner-

27-23 developer 100

27-24 For each enlargement of the area of an owner-developer’s

27-25 registration 15

27-26 For each cooperative certificate issued to an out-of-state real

27-27 estate broker licensee for 1 year or fraction [thereof] of a