1. The provisions of this chapter which require a certificate of registration or permit do not apply to a person or broker who has a current permit to engage in property management pursuant to chapter 645 of NRS.
2. A person or broker who has a permit to engage in property management pursuant to chapter 645 of NRS may engage in the business of asset management if the provision of asset management services is included in the property management agreement entered into pursuant to NRS 645.6056.
3. Except as otherwise provided in subsection 1, a person or broker who engages in the business of asset management must comply with the provisions of this chapter and the recordkeeping requirements of chapter 645 of NRS.
4. The provisions of this chapter do not apply to:
(a) A person who is a regular, full-time employee of a bank, mortgage company, mortgage servicer as that term is defined in NRS 645F.063, credit union, thrift company, savings and loan association or savings bank, or any subsidiary thereof.
(b) A person who takes possession of property from a defendant in connection with a judicial proceeding for eminent domain brought pursuant to chapter 37 of NRS.
(Added to NRS by 2011, 2820; A 2015, 2810; 2017, 3083, effective January 1, 2020)
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