Nev. Admin. Code § 645F.400 - Qualified employee: Designation and approval
1. If
a licensee is not a natural person, the licensee must designate a natural
person as a qualified employee to act on behalf of the licensee.
2. The Commissioner may approve the qualified
employee designated pursuant to subsection 1 if the qualified employee is a
natural person who:
(a) Is licensed in good
standing pursuant to the Nevada Covered Service Provider Regulations and
chapter 645F of NRS;
(b) Is
designated by the licensee to act on behalf of the licensee and to supervise
the conduct of the business of the licensee and any associated licensee
employed by or otherwise associated with the licensee;
(c) Will be present at the licensed office
location for which that person is the qualified employee for the majority of
the time that the office is open to the public;
(d) Has at least 2 years of verifiable
experience working in the real estate, mortgage, foreclosure or loan
modification industries or applicable financial or legal fields; and
(e) Meets the requirements of subsection
3.
3. If the licensee
which is not a natural person is licensed as:
(a) A covered service provider, the qualified
employee designated pursuant to subsection 1 must be licensed as a covered
service provider.
(b) A foreclosure
consultant, the qualified employee designated pursuant to subsection 1 must be
licensed as a covered service provider or a foreclosure consultant.
(c) A loan modification consultant, the
qualified employee designated pursuant to subsection 1 must be licensed as a
covered service provider, foreclosure consultant or loan modification
consultant.
4. If the
qualified employee designated pursuant to subsection 1 is not approved by the
Commissioner pursuant to subsection 2 or ceases to be a qualified employee, the
licensee shall designate another qualified employee pursuant to subsection 1
not later than:
(a) Thirty calendar days after
the date that:
(1) The Commissioner notifies
the licensee that the initial qualified employee designated pursuant to
subsection 1 is not approved; or
(2) The qualified employee ceases to be a
qualified employee; or
(b) A date after the date described in
paragraph (a), if agreed to by the Commissioner.
Notes
NRS 645F.390
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