Nev. Admin. Code § 675.065 - Conduct of business with a licensed mortgage banker

1. A licensee may conduct business in the same office or place of business with a licensed mortgage banker if:

(a) The licensee and the mortgage banker maintain separate licenses;

(b) Each company is operated as a separate legal entity;

(c) The books, records and accounts of each company are kept and maintained separately;

(d) The licensee and the mortgage banker are subsidiaries of the same parent corporation or otherwise have the same ownership; and

(e) The mortgage banker does not maintain trust accounts as those described in NRS 645B.175.

2. Each application for approval to conduct business pursuant to subsection 1 must be written and on a form prescribed by the Commissioner of Financial Institutions.

Notes

Nev. Admin. Code § 675.065

Added to NAC by Admstr. of Financial Institutions, eff. 5-1-86; A by Comm'r of Financial Institutions, eff. 3-30-94

NRS 675.170, 675.230