NRS 645B.355
Mortgage company prohibited from acting as construction control.


A mortgage broker shall not act as a construction control with respect to money belonging to a borrower or investor. If a borrower or investor wishes to utilize a construction control for money belonging to the borrower or investor, a mortgage broker must place the money with a person who is independent of the mortgage broker and is licensed or authorized to accept such money. The money must be subject to the control of a construction control which is in compliance with, or exempt from, the provisions of NRS 627.180 or 627.183.

Source: Section 645B.355 — Mortgage company prohibited from acting as construction control., https://www.­leg.­state.­nv.­us/NRS/NRS-645B.­html#NRS645BSec355.

Last Updated

Feb. 5, 2021

§ 645B.355’s source at nv​.us