NRS 624.530 - Board retains authority to take disciplinary action against residential contractor; additional actions by Board against residential contractor.

NV Rev Stat § 624.530 (2019) (N/A)

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1. The provisions of NRS 624.400 to 624.560, inclusive, do not limit the authority of the Board to take disciplinary action against a residential contractor.

2. If the Board or its designee finds that an owner recovered from the account an amount paid by the owner to obtain a release of a lien recorded against property to be improved by a construction project as a result of a residential contractor’s act or omission as described in subsection 2 of NRS 624.3012, in addition to any disciplinary action that the Board takes against the residential contractor pursuant to subsection 1, the Board may:

(a) Suspend or revoke the license of the residential contractor; and

(b) Prohibit the issuance, reinstatement or renewal of a license to the residential contractor and any officer, director, associate or partner thereof, unless the residential contractor or any officer, director, associate or partner thereof repays to the account or the owner, or both, as appropriate, any amount paid out of the account or by the owner as a result of the act or omission of the residential contractor.

(Added to NRS by 1999, 1970; A 2009, 766)

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NRS 624.540 - Annual statement of condition of account to Legislature; employment of necessary persons; procurement of necessary equipment, supplies and services; interest credited to account; limit on expenditures.