Nev. Admin. Code § 645.485 - Compromise of claim

1. In compromising a claim pursuant to NRS 645.845, the Administrator may prepare and enter into a stipulation with the petitioner and file a joint petition with the court.

2. Before the Administrator and the petitioner file such a joint petition, the Administrator shall advise the petitioner in writing that:

(a) The Division does not represent the interests of the petitioner; and

(b) The petitioner should seek the advice of independent legal counsel regarding the proposed compromise.

3. The Administrator shall compromise any claim and defend any action against the Real Estate Education, Research and Recovery Fund on behalf of the Fund in which a settlement has been agreed upon by the petitioner or paid to the petitioner, including, without limitation, any settlement by a third party that has been agreed upon by the petitioner or paid to the petitioner.

Notes

Nev. Admin. Code § 645.485

Added to NAC by Real Estate Div., eff. 3-31-94; A by Real Estate Comm'n by R111-01, 12-17-2001

NRS 645.190, 645.845