LegalFix
Sign In

NRS 645B.093 - Commingling certain money prohibited. [Effective through December 31, 2019.]

NV Rev Stat § 645B.093 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

1. A mortgage broker who is a broker-dealer or a sales representative licensed pursuant to NRS 90.310 or who is exempt from licensure pursuant to NRS 90.320:

(a) Shall not commingle money received for mortgage transactions and money received for securities transactions; and

(b) Shall ensure that all money received for mortgage transactions is accounted for separately from all money received for securities transactions.

2. A mortgage broker who is an investment adviser or a representative of an investment adviser licensed pursuant to NRS 90.330 or exempt from licensure pursuant to NRS 90.340:

(a) Shall not commingle money received for mortgage transactions and money received for securities transactions; and

(b) Shall ensure that all money received for mortgage transactions is accounted for separately from all money received for securities transactions.

(Added to NRS by 2007, 951)

Previous Section
NRS 645B.092 - Records of Commissioner: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action and orders imposing discipline deemed public records; disclosure by Commissioner.
Next Section
NRS 645B.093 - Commingling certain money prohibited. [Effective January 1, 2020.]