NRS 645F.270
Account for Mortgage Lending: Creation

  • use
  • no reversion to State General Fund
  • administration
  • interest and income
  • payment of claims.

1.

The Account for Mortgage Lending is hereby created in the State General Fund.

2.

Except as otherwise provided by law, any money collected by the Commissioner or Division pursuant to law:

(a)

Must be deposited in the Account for Mortgage Lending; and

(b)

May only be used to:

(1)

Carry out the programs and laws administered by the Commissioner and the Division; and

(2)

Pay the expenses related to the operations of the Commissioner and the Division.

3.

Except as otherwise provided by law, any money that remains in the Account for Mortgage Lending at the end of the fiscal year does not revert to the State General Fund, and the balance of the Account for Mortgage Lending must be carried forward to the next fiscal year.

4.

The Commissioner shall administer the Account for Mortgage Lending. Any interest or income earned on the money in the Account must be credited to the Account after deducting any applicable charges. Any claims against the Account must be paid as other claims against the State are paid.

Source: Section 645F.270 — Account for Mortgage Lending: Creation; use; no reversion to State General Fund; administration; interest and income; payment of claims., https://www.­leg.­state.­nv.­us/NRS/NRS-645F.­html#NRS645FSec270.

645F.250
Commissioner and Division to administer chapters governing mortgage lending and related professions. 645F.255
Regulations: Generally. 645F.260
State Board of Finance to act in advisory capacity. 645F.267
Certain persons not required to register or renew with or provide reports of financial condition to Registry 645F.270
Account for Mortgage Lending: Creation 645F.275
Adoption of regulations establishing minimum net worth or surety bonding requirements for loans by residential mortgage loan originators, percentage of fees from licensing to be deposited in mortgage recovery fund and methods to make claim against fund. 645F.277
Adoption of regulations establishing guidelines and limitations for servicing or arranging certain loans. 645F.280
Adoption of regulations establishing rates paid by persons licensed by Commissioner for supervision and examination by Commissioner or Division. 645F.290
Assessments paid by persons licensed by Commissioner or Division for legal services provided by Attorney General to Commissioner and Division. 645F.291
Subpoenas 645F.292
Secure and Fair Enforcement for Mortgage Licensing Act of 2008: Adoption of regulations to comply with requirements. 645F.293
Secure and Fair Enforcement for Mortgage Licensing Act of 2008: Adoption of regulations to carry out provisions. 645F.294
Confidentiality and privilege of information and material provided to Registry: Generally 645F.295
Confidentiality and privilege of information and material provided to Registry: Commissioner authorized to enter into agreements with other entities. 645F.296
Certain residential mortgage loan originators required to obtain and maintain license as mortgage loan originator.
Last Updated

Feb. 5, 2021

§ 645F.270’s source at nv​.us