NRS 645.314
Administrator may charge broker for costs and fees of audit under certain circumstances

  • additional grounds for disciplinary action.

1.

The Administrator may charge and collect from a real estate broker an amount equal to the amount of the actual costs and fees incurred by the Division to conduct an audit of the financial accounts of the real estate broker pursuant to this chapter or any regulations adopted pursuant thereto if:

(a)

The Division makes a request during the course of the audit for the real estate broker to produce, provide access to or grant authorization to the Division to inspect or obtain any documentation related to the business of a real estate broker which the broker is required to maintain pursuant to NRS 645.310 and any regulations adopted pursuant to this chapter;

(b)

The real estate broker fails to comply with the request within a reasonable time established by the Division; and

(c)

The Division has reasonable cause to believe that the requested documentation will assist it in investigating whether the real estate broker has committed any act or offense that would be grounds for taking disciplinary action against the real estate broker.

2.

If the Administrator charges a real estate broker for the costs and fees of an audit pursuant to subsection 1, the Administrator shall bill the real estate broker upon the completion of the audit. The costs and fees must be paid within 90 days after the date the real estate broker receives the bill. Except as otherwise provided in this subsection, any payment received after the due date must include a penalty in the amount of 10 percent of the amount specified in the bill plus an additional penalty in the amount of 1 percent of the amount for each month, or portion of a month, that the bill is not paid. The Administrator may waive the penalty for good cause.

3.

The failure of a real estate broker to pay any costs and fees as required by this section constitutes grounds for disciplinary action against the real estate broker.

4.

Money received by the Division pursuant to this section must be:

(a)

Deposited with the State Treasurer for credit to the appropriate account of the Division.

(b)

Used by the Division only to offset the fees and costs incurred by the Division in carrying out the provisions of NRS 645.313.

Source: Section 645.314 — Administrator may charge broker for costs and fees of audit under certain circumstances; additional grounds for disciplinary action., https://www.­leg.­state.­nv.­us/NRS/NRS-645.­html#NRS645Sec314.

645.230
Unlawful to engage in certain conduct without license or permit or without complying with certain provisions of chapter 645.235
Administrative fine for engaging in certain conduct without license, permit, certificate, registration or authorization 645.250
Power of cities and towns to license and regulate brokers and salespersons not affected. 645.251
Licensee not required to comply with certain principles of common law. 645.252
Duties of licensee acting as agent in real estate transaction. 645.253
Licensees affiliated with same brokerage: Additional duties when assigned to separate parties to real estate transaction. 645.254
Additional duties of licensee entering into brokerage agreement to represent client in real estate transaction. 645.255
Waiver of duties of licensee prohibited. 645.256
Broker who provides asset management services to client required to provide Real Estate Division with certain information annually 645.257
Action to recover damages suffered as result of licensee’s failure to perform certain duties 645.258
Duties concerning transaction involving used manufactured home or used mobile home. 645.259
Liability of licensee for misrepresentation made by client 645.260
One act constitutes action in capacity of broker or salesperson. 645.270
Allegation and proof of licensed status in action for compensation. 645.280
Association with or compensation of unlicensed broker, broker-salesperson or salesperson unlawful 645.283
Owner-developers: Employment of licensed salespersons 645.285
Owner-developers: Form and contents of application for registration. 645.287
Owner-developers: Regulations concerning qualifications 645.289
Owner-developers: Qualifications and duties of person who acts as sales manager. 645.300
Delivery of copy of written brokerage agreement 645.310
Deposits and trust accounts: Accounting 645.313
Other financial accounts: Investigation and audit involving insolvency of broker or enforcement by Division 645.314
Administrator may charge broker for costs and fees of audit under certain circumstances 645.315
Conditions and limitations on certain advertisements 645.320
Requirements for exclusive agency representation. 645.321
Discriminatory practices unlawful 645.2515
Broker’s price opinion: Requirements 645.3205
Dealing with party to real estate transaction in manner which is deceitful, fraudulent or dishonest prohibited.
Last Updated

Feb. 5, 2021

§ 645.314’s source at nv​.us