Nev. Rev. Stat. § 645C.010 Definitions.
As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 645C.020 to 645C.130, inclusive, have the meanings ascribed to them in those sections.
APPRAISERS OF REAL ESTATE AND APPRAISAL MANAGEMENT COMPANIES
Nev. Rev. Stat. 645C
in effectNev. Rev. Stat. § 645C.020 Administrator defined.
Administrator means the Real Estate Administrator.
Nev. Rev. Stat. § 645C.030 Appraisal defined.
Appraisal means an analysis, opinion or conclusion, whether written or oral, relating to the nature, quality, value or use of a specified interest in, or aspect of, identified real estate for or with the expectation of receiving compensation.
Nev. Rev. Stat. § 645C.032 Appraisal firm defined.
Appraisal firm means a person, limited-liability company, partnership, association or corporation:
1. Which, for compensation, prepares and communicates appraisals;
2. Whose principal is an appraiser licensed pursuant to this chapter; and
3. Whose principal supervises, trains and reviews work product produced by the persons who produce appraisals for the person, limited-liability company, partnership, association or corporation, including, without limitation, employees and independent contractors.
Nev. Rev. Stat. § 645C.034 Appraisal management company defined.
1. Appraisal management company means a person, limited-liability company, partnership, association or corporation which, for compensation:
(a) Functions as a third-party intermediary between an appraiser valuing properties which secure mortgage loans or mortgages incorporated into a securitization and:
(1) A creditor of a consumer credit transaction secured by the principal dwelling of a consumer or other principal in secondary mortgage markets; or
(2) Any other user of real estate appraisal services;
(b) Recruits, selects, retains and administers a network or panel of appraisers in this State or in the United States, performing real estate appraisal services as independent contractors;
(c) Enters into an agreement to provide real estate appraisal services with a user of such services and one or more appraisers performing such services as independent contractors;
(d) Manages the process of having an appraisal performed, including, without limitation, providing administrative duties such as:
(1) Receiving appraisal orders and appraisal reports;
(2) Submitting completed appraisal reports to creditors and underwriters;
(3) Collecting fees from creditors and underwriters for services provided; and
(4) Reimbursing appraisers for services performed;
(e) Reviews and verifies the work of appraisers;
(f) Contracts with certified appraisers and licensed appraisers to perform appraisal assignments; or
(g) Otherwise serves as a third-party broker of appraisal services.
2. The term does not include:
(a) An appraisal firm;
(b) Any person licensed to practice law in this State who orders an appraisal in connection with a bona fide client relationship when that person directly contracts with an independent appraiser;
(c) Any person or entity that contracts with an independent appraiser acting as an independent contractor for the completion of appraisal assignments that the person or entity cannot complete for any reason, including, without limitation, competency, workload, scheduling or geographic location; and
(d) Any person or entity that contracts with an independent appraiser acting as an independent contractor for the completion of a real estate appraisal assignment and, upon the completion of such an assignment, cosigns the appraisal report with the independent appraiser acting as an independent contractor.
Nev. Rev. Stat. § 645C.037 Appraisal Subcommittee defined.
Appraisal Subcommittee means the Appraisal Subcommittee of the Federal Financial Institutions Examination Council.
Nev. Rev. Stat. § 645C.040 Appraiser defined.
Appraiser means a person who prepares or communicates an appraisal, but does not include anyone who merely relays an appraisal on behalf of the person who prepares it.
Nev. Rev. Stat. § 645C.045 Certificate defined.
Certificate means a certificate issued to an appraiser pursuant to this chapter.
Nev. Rev. Stat. § 645C.047 Certified appraiser defined.
Certified appraiser means an appraiser to whom a certificate has been issued pursuant to this chapter.
Nev. Rev. Stat. § 645C.050 Commission defined.
Commission means the Commission of Appraisers of Real Estate.
Nev. Rev. Stat. § 645C.055 Complex property defined.
Complex property means residential property which:
1. Is atypical for the marketplace in which it is located based on, without limitation, such factors as:
(a) The architectural style of the property;
(b) Special improvements made to the property;
(c) The size of the lot;
(d) The use of the property;
(e) Environmental factors related to the property; and
(f) Ownership of a partial interest in the property; and
2. Requires techniques to be used other than a simple comparison of sales or an analysis of cost or income in order to produce a reliable appraisal of that property.
Nev. Rev. Stat. § 645C.060 Division defined.
Division means the Real Estate Division of the Department of Business and Industry.
Nev. Rev. Stat. § 645C.065 Federal financial institutions regulatory agency defined.
Federal financial institutions regulatory agency means the:
1. Board of Governors of the Federal Reserve System;
2. Federal Deposit Insurance Corporation;
3. Office of the Comptroller of the Currency;
4. National Credit Union Administration;
5. Federal Housing Finance Agency; or
6. Consumer Financial Protection Bureau.
Nev. Rev. Stat. § 645C.067 Federally related transaction defined.
Federally related transaction means any financial transaction related to real estate which:
1. A federal financial institutions regulatory agency or the Resolution Trust Corporation engages in, contracts for or regulates; and
2. Requires the services of an appraiser.
Nev. Rev. Stat. § 645C.070 Intern defined.
Intern means a person who actively assists in the preparation or communication of an appraisal, but does not include anyone who merely provides information concerning real estate to an appraiser or records, transcribes or copies information concerning real estate for an appraiser, or relays an appraisal on behalf of an appraiser.
Nev. Rev. Stat. § 645C.080 License defined.
License means a license issued to an appraiser pursuant to this chapter.
Nev. Rev. Stat. § 645C.090 Licensed appraiser defined.
Licensed appraiser means an appraiser to whom a license has been issued pursuant to this chapter.
Nev. Rev. Stat. § 645C.100 Permit defined.
Permit means a permit to conduct an appraisal issued to an appraiser by the Administrator pursuant to NRS 645C.363.
Nev. Rev. Stat. § 645C.110 Real estate defined.
Real estate includes land, any improvements and fixtures permanently affixed thereon, and every right, interest or estate therein, whether legal or equitable, whether corporeal or incorporeal, and whether the property is situated in this state or elsewhere, including without limitation freeholds, leaseholds and interests in condominiums, townhouses and planned unit developments.
Nev. Rev. Stat. § 645C.120 Registered intern defined.
Registered intern means an intern to whom a registration card has been issued pursuant to this chapter.
Nev. Rev. Stat. § 645C.130 Registration card defined.
Registration card means a card issued to an intern pursuant to this chapter signifying the interns registration by the Division.
Nev. Rev. Stat. § 645C.140 Purpose of chapter.
The purpose of this chapter is to carry out the policy expressed in the portion of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (12 U.S.C. §§ 3331-3351) which concerns appraisers, to establish a program in this state to license and certify appraisers, and to protect the users of appraisals in this state.
Nev. Rev. Stat. § 645C.150 Applicability of chapter.
The provisions of this chapter do not apply to:
1. A federal or state employee, or an employee of a local government, who prepares or communicates an appraisal as part of his or her official duties, unless a license or certificate is required as a condition of that employment.
2. A person appointed to evaluate real estate pursuant to chapter 152 of NRS or NRS 269.125 , except as required by the appointing judge.
3. A board of appraisers acting pursuant to NRS 269.135 .
4. A person licensed pursuant to chapter 645 or 684A of NRS, or certified pursuant to chapter 645D of NRS, while performing an act within the scope of his or her license or certificate.
5. A person who makes an evaluation of real estate as an incidental part of his or her employment for which special compensation is not provided, if that evaluation is only provided to the persons employer for internal use within the place of his or her employment.
6. A person who makes an assessment of the value of property in connection with a judicial proceeding for eminent domain brought pursuant to chapter 37 of NRS.
Nev. Rev. Stat. § 645C.170 Administration by Division; employment of professional consultants to investigate complaints; employees of Division.
1. The Division shall:
(a) Administer this chapter and may employ legal counsel, investigators and other professional consultants necessary to the discharge of its duties pursuant to this chapter; and
(b) Within the limits of available money, employ or contract for the services of professional consultants to investigate complaints, conduct audits and perform any other activities necessary to ensure compliance with Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended.
2. No employee of the Division may:
(a) Be employed by or have an interest in any business that prepares appraisals; or
(b) Act as an appraiser, as an agent for an appraiser or as an intern.
Nev. Rev. Stat. § 645C.175 Authority for Division to conduct business electronically; regulations; fees; use of unsworn declaration; exclusions.
1. The Administrator may adopt regulations which establish procedures for the Division to conduct business electronically pursuant to title 59 of NRS with persons who are regulated pursuant to this chapter and with any other persons with whom the Division conducts business. The regulations may include, without limitation, the establishment of fees to pay the costs of conducting business electronically with the Division.
2. In addition to the process authorized by NRS 719.280 , if the Division is conducting business electronically with a person and a law requires a signature or record to be notarized, acknowledged, verified or made under oath, the Division may allow the person to substitute a declaration that complies with the provisions of NRS 53.045 or 53.250 to 53.390 , inclusive, to satisfy the legal requirement.
3. The Division may refuse to conduct business electronically with a person who has failed to pay money which the person owes to the Division or the Commission.
Nev. Rev. Stat. § 645C.180 Commission of Appraisers of Real Estate: Creation; appointment and terms of members; limitations on membership.
1. The Commission of Appraisers of Real Estate is hereby created, consisting of five members appointed by the Governor.
2. At least two members of the Commission must be residents of the southern district of Nevada, which consists of the counties of Clark, Esmeralda, Lincoln and Nye.
3. At least two members of the Commission must be residents of the northern district of Nevada, which consists of Carson City, and the counties of Churchill, Douglas, Elko, Eureka, Humboldt, Lander, Lyon, Mineral, Pershing, Storey, Washoe and White Pine.
4. Not more than two members may be appointed from any one county.
5. After the terms of the initial members, the Commission must contain at least two members who hold certificates as general appraisers and at least two members who hold certificates or licenses as residential appraisers.
6. A member of the Commission is eligible for reappointment, but shall not serve for a period greater than 6 years consecutively, after which the member is not eligible for appointment or reappointment until 3 years have elapsed from his or her previous period of service.
Nev. Rev. Stat. § 645C.190 Commission of Appraisers of Real Estate: Qualifications and oaths of members.
1. Each member of the Commission must:
(a) Be a citizen of the United States or be lawfully entitled to remain and work in the United States;
(b) Have been a resident of the State of Nevada for not less than 5 years;
(c) Have been actively engaged in business as an appraiser within the State for a period of not less than 3 years immediately preceding the date of appointment; and
(d) After the terms of the initial members, be a certified or licensed appraiser.
2. Before entering upon the duties of his or her office, each member of the Commission shall take:
(a) The constitutional oath of office; and
(b) An oath that the member is legally qualified to serve as a member of the Commission.
Nev. Rev. Stat. § 645C.200 Commission of Appraisers of Real Estate: Fiscal year; officers; meetings; compensation, per diem allowance and travel expenses of members.
1. The Commission shall:
(a) Operate on the basis of a fiscal year beginning on July 1 and ending on June 30.
(b) At the first meeting of each fiscal year, elect a President, Vice President and Secretary to serve for the ensuing year.
(c) Hold at least two meetings each year, one in the southern part of the State and one in the northern part of the State, at times and places designated by the Commission. When there is sufficient business, additional meetings of the Commission may be held at the call of the President of the Commission. Written notice of the time, place and purpose of each meeting must be given to each member at least 3 working days before the meeting.
2. While engaged in the business of the Commission, each member of the Commission is entitled to receive:
(a) A salary of not more than $150 per day, as fixed by the Commission; and
(b) A per diem allowance and travel expenses at a rate fixed by the Commission. The rate must not exceed the rate provided for state officers and employees generally.
Nev. Rev. Stat. § 645C.210 Commission of Appraisers of Real Estate: Powers and duties; regulations; service of process.
1. The Commission shall:
(a) Adopt a seal to authenticate its proceedings.
(b) Conduct hearings pursuant to this chapter.
(c) Establish programs for education and research in the preparation and communication of appraisals.
(d) Adopt regulations:
(1) Governing the examinations, education and experience required by this chapter;
(2) Establishing standards for the preparation and communication of appraisals; and
(3) Establishing standards of professional conduct.
(e) Perform any other acts necessary to carry out the provisions of this chapter.
2. The Commission may:
(a) Adopt such regulations as are reasonable and necessary for the administration of this chapter; and
(b) By regulation delegate any authority conferred on it by this chapter to the Administrator to be exercised pursuant to the regulations of the Commission.
3. Service of process and other communications upon the Commission may be made at the principal office of the Division.
Nev. Rev. Stat. § 645C.215 Administrative fine for engaging in certain conduct without certificate, license, registration, registration card or authorization; procedure for imposition of fine; judicial review; exceptions.
1. In addition to any other remedy or penalty, the Commission may impose an administrative fine against any person who knowingly:
(a) Engages or offers to engage in any activity for which a certificate, license, registration or registration card or any type of authorization is required pursuant to this chapter, or any regulation adopted pursuant thereto, if the person does not hold the required certificate, license, registration or registration card or has not been given the required authorization; or
(b) Assists or offers to assist another person to commit a violation described in paragraph (a).
2. If the Commission imposes an administrative fine against a person pursuant to this section, the amount of the administrative fine may not exceed the amount of any gain or economic benefit that the person derived from the violation or $5,000, whichever amount is greater.
3. In determining the appropriate amount of the administrative fine, the Commission shall consider:
(a) The severity of the violation and the degree of any harm that the violation caused to other persons;
(b) The nature and amount of any gain or economic benefit that the person derived from the violation;
(c) The persons history or record of other violations; and
(d) Any other facts or circumstances that the Commission deems to be relevant.
4. Before the Commission may impose the administrative fine, the Commission must provide the person with notice and an opportunity to be heard.
5. The person is entitled to judicial review of the decision of the Commission in the manner provided by chapter 233B of NRS.
6. The provisions of this section do not apply to a person who engages or offers to engage in activities within the purview of this chapter if:
(a) A specific statute exempts the person from complying with the provisions of this chapter with regard to those activities; and
(b) The person is acting in accordance with the exemption while engaging or offering to engage in those activities.
Nev. Rev. Stat. § 645C.220 Records: Maintenance by Division; general provisions governing public inspection and confidentiality.
1. The Division shall maintain a record of:
(a) Persons whose applications for a certificate, license or registration card have been denied;
(b) Investigations conducted by it which result in the initiation of formal disciplinary proceedings;
(c) Formal disciplinary proceedings; and
(d) Rulings or decisions upon complaints filed with it.
2. Except as otherwise provided in this section and NRS 645C.225 , records kept in the office of the Division pursuant to this chapter are open to the public for inspection pursuant to regulations adopted by the Commission. Except as otherwise provided in NRS 239.0115 , the Division may keep confidential, unless otherwise ordered by a court:
(a) Examinations for a certificate or license; and
(b) The criminal and financial records of an appraiser or intern, or an applicant for a certificate, license or registration card.
Nev. Rev. Stat. § 645C.225 Records: Certain records relating to complaint or investigation deemed confidential; certain records relating to disciplinary action deemed public records.
1. Except as otherwise provided in this section and NRS 239.0115 , a complaint filed with the Commission, all documents and other information filed with the complaint and all documents and other information compiled as a result of an investigation conducted to determine whether to initiate disciplinary action are confidential and may be disclosed in whole or in part only as necessary in the course of administering this chapter or to a licensing board or agency or any other governmental agency, including, without limitation, a law enforcement agency, that is investigating a person who holds a certificate, license or registration card issued pursuant to this chapter.
2. The complaint or other document filed by the Commission to initiate disciplinary action and all documents and information considered by the Commission when determining whether to impose discipline are public records.
Nev. Rev. Stat. § 645C.230 Publication and sale of manual or guide concerning appraisals.
Upon approval of the Commission, the Division may publish or supply a manual or guide concerning appraisals, and offer it for sale to the public for a reasonable fee.
Nev. Rev. Stat. § 645C.240 Deposit and use of money received by Division; financial support of Division.
1. Except as otherwise provided in subsections 2 and 3 and NRS 645C.245 , all fees, penalties and other charges received by the Division pursuant to this chapter must be deposited with the State Treasurer for credit to the State General Fund.
2. Fees received by the Division:
(a) From the sale of publications must be retained by the Division to pay the costs of printing and distributing publications.
(b) For examinations must be retained by the Division to pay the costs of the administration of examinations.
Ê Any surplus of the fees retained by the Division for the administration of examinations must be deposited with the State Treasurer for credit to the State General Fund.
3. The portion of the fees collected by the Division pursuant to NRS 645C.450 and 645C.680 for the issuance or renewal of a certificate or license as a residential appraiser, the issuance or renewal of a certificate as a general appraiser or the issuance or renewal of a registration as an appraisal management company which is used for payment of the annual registry fee to the Federal Financial Institutions Examination Council or the Appraisal Subcommittee pursuant to 12 U.S.C. § 3338, must be retained by the Division for payment to the Federal Financial Institutions Examination Council or the Appraisal Subcommittee on an annual basis.
4. Money for the support of the Division in carrying out the provisions of this chapter must be provided by direct legislative appropriation and be paid out on claims as other claims against the State are paid.
Nev. Rev. Stat. § 645C.245 Technology Account for Chapter 645C of NRS.
1. The Technology Account for Chapter 645C of NRS is hereby created in the State General Fund. The Administrator shall administer the Account.
2. The interest and income earned on the money in the Account, after deducting any applicable charges, must be credited to the Account. Any money remaining in the Account at the end of the fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.
3. All money collected from the technology fee imposed pursuant to NRS 645C.450 and 645C.680 must be deposited in the Account and used only to acquire technology for or improve the technology used by the Division to administer the provisions of this chapter, including, without limitation, costs related to acquiring or improving technology, purchasing hardware and software, maintaining the technology and contracting for professional services related to the technology.
4. All claims against the Account must be paid as other claims against the State are paid.
Nev. Rev. Stat. § 645C.250 Duties of Attorney General.
1. The Attorney General shall render to the Division opinions upon questions of law relating to the construction or interpretation of this chapter, or arising in the administration thereof, submitted to the Attorney General by the Division or the Commission.
2. The Attorney General shall act as the attorney for the Division in all actions and proceedings brought against or by the Division pursuant to any of the provisions of this chapter subject to the provisions of NRS 622A.200 and 622A.210 .
Nev. Rev. Stat. § 645C.260 Certificate, license, permit or registration card required; penalty; prosecution of violation.
1. Any person who, in this State, engages in the business of, acts in the capacity of, advertises or assumes to act as:
(a) An appraiser without first obtaining the appropriate certificate, license or permit pursuant to this chapter; or
(b) An intern without first obtaining a registration card pursuant to this chapter,
Ê is guilty of a misdemeanor.
2. The Division may file a complaint in any court of competent jurisdiction for a violation of this section, and assist in presenting the law or facts at any hearing upon the complaint.
3. At the request of the Administrator, the Attorney General shall prosecute such a violation. Unless the violation is prosecuted by the Attorney General, the district attorney shall prosecute a violation which occurs in the district attorneys county.
Nev. Rev. Stat. § 645C.270 Interns: Registration card; supervision; authorization to work; denial of registration card.
1. An intern must:
(a) Obtain a registration card from the Division; and
(b) Be associated with and supervised by the appraiser named in the registration card.
2. An intern shall not assist in the preparation or communication of an appraisal without the written authorization of the appraiser named in the interns registration card.
3. The Division may deny an application for a registration card on any ground sufficient to deny an application for a certificate or license.
Nev. Rev. Stat. § 645C.280 Types and scope of licenses and certificates; regulations.
1. An appraiser may obtain from the Division:
(a) A license as a residential appraiser, which authorizes him or her to perform an appraisal of real estate suitable for or consisting of no more than four residential units in any one transaction, if:
(1) The total value does not exceed $1,000,000 and the complexity of the transaction does not, under the regulations of a federal agency or the classifications and qualifications established by the Appraiser Qualifications Board of the Appraisal Foundation, require a certified appraiser; or
(2) The property is not a complex property;
(b) A certificate as a residential appraiser, which authorizes him or her to perform an appraisal of real estate suitable for or consisting of no more than four residential units in any one transaction, without regard to value or complexity; or
(c) A certificate as a general appraiser, which authorizes him or her to perform any appraisal.
2. A person certified or licensed as a residential appraiser may, under the direct supervision of a person certified as a general appraiser, assist in the preparation and communication of an appraisal that is outside the scope of the certificate or license.
3. Only a person certified or licensed as an appraiser from whom the Division has collected the annual registry fee to be paid to the Federal Financial Institutions Examination Council pursuant to 12 U.S.C. § 3338 and who is in active status on the National Registry of Appraisers is eligible to perform federally related transactions.
4. The Commission may establish, by regulation, additional classifications of licensure or certification, and the qualifications therefor, if necessary to comply with classifications and qualifications established by the Appraiser Qualifications Board of the Appraisal Foundation.
Nev. Rev. Stat. § 645C.290 Application for certificate or license: Form and contents.
An application for a certificate or license must be in writing upon a form prepared and furnished by the Division. The application must include the following information:
1. The name, age and address of the applicant.
2. The place or places, including the street number, city and county, where the applicant intends to conduct business as an appraiser.
3. The business, occupation or other employment of the applicant during the 5 years immediately preceding the date of the application, and the location thereof.
4. The periods during which, and the locations where, the applicant gained experience as an intern.
5. Whether the applicant has ever been convicted of, is under indictment for, or has entered a plea of guilty, guilty but mentally ill or nolo contendere to:
(a) A felony and, if so, the nature of the felony.
(b) Forgery, embezzlement, obtaining money under false pretenses, larceny, extortion, conspiracy to defraud or any crime involving moral turpitude.
6. Whether the applicant has ever been refused a certificate, license or permit to act as an appraiser, or has ever had such a certificate, license or permit suspended or revoked, in any other jurisdiction.
7. If the applicant is a member of a partnership or association or is an officer of a corporation, the name and address of the principal office of the partnership, association or corporation.
8. Any other information the Division requires.
Nev. Rev. Stat. § 645C.295 Payment of child support: Submission of certain information by applicant; grounds for denial of license, certificate or registration card; duty of Division. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
1. In addition to any other requirements set forth in this chapter:
(a) An applicant for the issuance of a license, certificate or registration card issued pursuant to this chapter shall include the social security number of the applicant in the application submitted to the Division.
(b) An applicant for the issuance or renewal of a license, certificate or registration card issued pursuant to this chapter shall submit to the Division the statement prescribed by the Division of Social Services of the Department of Human Services pursuant to NRS 425.520 . The statement must be completed and signed by the applicant.
2. The Division shall include the statement required pursuant to subsection 1 in:
(a) The application or any other forms that must be submitted for the issuance or renewal of the license, certificate or registration card; or
(b) A separate form prescribed by the Division.
3. A license, certificate or registration card may not be issued or renewed by the Division pursuant to this chapter if the applicant:
(a) Fails to submit the statement required pursuant to subsection 1; or
(b) Indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.
4. If an applicant indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the Division shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.
Nev. Rev. Stat. § 645C.300 Submission of fees and fingerprints with application for certificate, license or registration card; investigation of applicants background.
1. Each application for a certificate, license or registration card must be accompanied by:
(a) The fee for the certificate, license or registration card;
(b) The fee to pay the costs of an investigation of the applicants background; and
(c) All information required to complete the application.
2. Each applicant must, as part of the application and at his or her own expense:
(a) Arrange to have a complete set of fingerprints taken by a law enforcement agency or other authorized entity acceptable to the Division; and
(b) Submit to the Division:
(1) A completed fingerprint card and written permission authorizing the Division to submit the applicants fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for a report on the applicants background and to such other law enforcement agencies as the Division deems necessary; or
(2) Written verification, on a form prescribed by the Division, stating that the fingerprints of the applicant were taken and directly forwarded electronically or by another means to the Central Repository and that the applicant has given written permission to the law enforcement agency or other authorized entity taking the fingerprints to submit the fingerprints to the Central Repository for submission to the Federal Bureau of Investigation for a report on the applicants background and to such other law enforcement agencies as the Division deems necessary.
3. The Division may:
(a) Unless the applicants fingerprints are directly forwarded pursuant to subparagraph (2) of paragraph (b) of subsection 2, submit those fingerprints to the Central Repository for submission to the Federal Bureau of Investigation and to such other law enforcement agencies as the Division deems necessary; and
(b) Request from each such agency any information regarding the applicants background as the Division deems necessary.
Nev. Rev. Stat. § 645C.310 Period for action on application for certificate or license.
Unless the Division extends the time, it shall act upon an application for a certificate or license within 60 days after receiving the completed application. If in the opinion of the Administrator additional investigation of the applicant appears necessary, the Division may extend that period as long as necessary to complete the investigation before acting on the application.
Nev. Rev. Stat. § 645C.320 Qualifications for issuance and grounds for denial of certificate or license.
1. The Administrator shall issue a certificate or license, as appropriate, to any person:
(a) Of good moral character, honesty and integrity;
(b) Who meets the educational requirements and has the experience prescribed in NRS 645C.330 or any regulation adopted pursuant to that section;
(c) Who, except as otherwise provided in NRS 645C.360 , has satisfactorily passed a written examination approved by the Commission; and
(d) Who submits all information required to complete an application for a certificate or license.
2. The Administrator may deny an application for a certificate or license to any person who:
(a) Has been convicted of, or entered a plea of guilty, guilty but mentally ill or nolo contendere to, forgery, embezzlement, obtaining money under false pretenses, larceny, extortion, conspiracy to defraud or any crime involving moral turpitude;
(b) Makes a false statement of a material fact on his or her application; or
(c) Has ever had a certificate, license or registration card suspended or revoked pursuant to this chapter, or a certificate, license or permit to act as an appraiser suspended or revoked in any other jurisdiction.
Nev. Rev. Stat. § 645C.330 Standards for education and experience required for certificate or license; regulations.
The Commission shall adopt regulations that prescribe the standards for education and experience required for the issuance of a certificate or license. Until the Commission adopts those regulations, the standards are as follows:
1. An applicant for a license as a residential appraiser must furnish proof satisfactory to the Commission that the applicant has successfully completed:
(a) Not less than 90 hours of academic instruction in subjects related to appraisals taught in courses approved by the Commission; and
(b) At least 2 years of experience working full-time as an appraiser or intern.
2. An applicant for a certificate as a residential appraiser must furnish proof satisfactory to the Commission that the applicant has successfully completed:
(a) Not less than 120 hours of academic instruction in subjects related to appraisal taught in courses approved by the Commission; and
(b) At least 2 years of experience working full-time as an appraiser or intern, including not less than 500 hours of experience relating to complex property.
3. An applicant for a certificate as a general appraiser must furnish proof satisfactory to the Commission that the applicant has successfully completed:
(a) Not less than 180 hours of academic instruction in subjects related to appraisals taught in courses approved by the Commission; and
(b) At least 3 years of experience working full-time as an appraiser or intern.
Ê As used in this section, an hour of academic instruction means at least 50 minutes of actual time spent receiving instruction.
Nev. Rev. Stat. § 645C.340 Examination for certificate or license: Fees; scope; use of professional testing organization.
1. Each application for an examination for a certificate or license must be accompanied by the fees established by the Division pursuant to subsection 3 of NRS 645C.450 .
2. The examination must test the applicant on his or her knowledge and understanding of:
(a) Subjects applicable to the type of certificate or license for which the applicant is applying; and
(b) Laws regarding the practice of preparing and communicating appraisals, including the provisions of this chapter and any regulations adopted pursuant thereto.
3. The Division may hire a professional testing organization to create, administer or score the examination.
Nev. Rev. Stat. § 645C.350 Frequency of examinations; taking examination before completion of experience and education prohibited; notification of applicant regarding satisfaction of requirements.
1. The Division shall cause examinations to be conducted not less than once every 6 months.
2. An applicant may not take the written examination before completing the requirements for experience and education.
3. The Division shall notify each applicant in writing whether the applicant passed or failed the examination, or has alternatively satisfied the requirements for a certificate, license or permit pursuant to NRS 645C.360 , as determined by the Commission.
Nev. Rev. Stat. § 645C.360 Issuance of certificate or license without examination; reciprocal agreements for issuance of certificates or licenses.
1. An applicant for a certificate or license issued pursuant to this chapter is not required to pass the examination otherwise required by NRS 645C.320 if:
(a) The applicant holds a certificate or license as an appraiser issued by another state or territory of the United States or the District of Columbia;
(b) The requirements for the examination for the certificate or license issued in that state or territory of the United States or the District of Columbia are substantially equivalent to the requirements for the examination required by this State for a certificate or license; and
(c) The applicant has passed the examination in that state or territory of the United States or the District of Columbia.
2. The Division shall issue a certificate or license to a person who holds a certificate or license as an appraiser issued by a state or territory of the United States or the District of Columbia if it has entered into a reciprocal agreement with the Commission for the issuance of certificates and licenses pursuant to this chapter and the person submits proof to the Division that:
(a) The person has been issued a certificate or license by the state or territory of the United States or the District of Columbia; and
(b) At the time the person files his or her application with the Division, the certificate or license is in effect.
3. The Commission shall not enter into a reciprocal agreement pursuant to subsection 2 unless the provisions relating to the appraisal of real estate, including the requirements for the licensing of appraisers of real estate, in the other state or territory of the United States or District of Columbia are substantially similar to the provisions relating to the appraisal of real estate in this State.
Nev. Rev. Stat. § 645C.363 Permit to conduct appraisal to person who holds certificate or license in another state; regulations.
1. The Division may issue a permit to conduct an appraisal in this State to a person who holds a certificate or license issued by another state or territory of the United States or the District of Columbia.
2. The Commission shall adopt regulations which prescribe the requirements for the issuance of such a permit.
Nev. Rev. Stat. § 645C.367 Issuance of certificate, license or permit to resident of another state: Appointment of Administrator as agent for service of process; service of process upon Administrator.
1. The Division shall not issue a certificate, license or permit pursuant to this chapter to an applicant who is a resident of another state unless the applicant has executed a written statement that appoints the Administrator as his or her agent for the service of process for any action or proceeding filed against him or her in this State.
2. The statement of appointment must include a provision which provides:
(a) That any process which is served on the Administrator shall be deemed to have the same legal validity as if it had been served on the applicant;
(b) That the appointment of the Administrator as the applicants agent for the service of process continues as long as any liability remains outstanding against the applicant in this State; and
(c) For venue in any judicial or administrative district in this State without regard to the residence or principal place of business of the holder of a certificate or license.
3. The statement of appointment must be signed by the applicant and notarized. The applicant shall file a copy of the statement of appointment with the Administrator. A copy of the statement which is certified by the Administrator shall be deemed sufficient evidence of the appointment.
4. If any process is served upon the Administrator pursuant to this section, the Administrator shall mail the process by certified mail to the last known address of the person holding the certificate, license or permit. Service of process shall be deemed complete upon mailing. The manner of the service of process described in this subsection does not affect the validity of any other service of process authorized by law.
Nev. Rev. Stat. § 645C.370 Notification of denial of application; leave to file another application; procedure for appeal of denial.
1. If an application is denied, the Division shall notify the applicant within 15 days after its decision. If the denial is on grounds other than a failure to pass the examination, the applicant may not reapply until the applicant petitions the Division for leave to file another application. The Division may grant or deny that leave in its sole discretion.
2. If the applicant, within 30 days after receipt of the notice denying the application, files a written request containing allegations which, if true, qualify the applicant for a certificate, license or registration card, the President of the Commission shall set the matter for a hearing to be conducted within 90 days after receipt of the applicants request.
3. The hearing must be held at a time and place prescribed by the Commission. At least 15 days before the date set for the hearing, the Division shall serve the applicant with written notice of the hearing and include with the notice an exact copy of any protests filed, together with copies of all communications, reports, affidavits or depositions in possession of the Division relevant to the matter in question. The notice may be served by personal delivery to the applicant, or by mailing it by certified mail to the applicants last known business or residential address.
4. The hearing may be held by the Commission or a majority thereof, and a hearing must be held if the applicant so desires. A record of the proceedings, or any part thereof, must be made available to each party upon the payment to the Division of the reasonable cost of transcription.
5. The Commission shall render a decision on the matter within 60 days after the final hearing and notify the parties to the proceedings, in writing, of its ruling, order or decision within 15 days after it is made.
Nev. Rev. Stat. § 645C.380 Invalidation and surrender of certificate, license or registration card issued in error; notice; request for hearing.
The Division, upon the discovery of any error in the issuance of a certificate, license or registration card which is related to the qualifications or fitness of the holder thereof, may invalidate the certificate, license or registration card upon notice in writing to the holder. The holder shall surrender the certificate, license or registration card to the Division within 20 days after the notice is sent by the Division. A person whose certificate, license or registration card is invalidated pursuant to this section, and who has surrendered the certificate, license or registration card, may request a hearing on the matter as for the denial of an application pursuant to NRS 645C.370.
Nev. Rev. Stat. § 645C.390 Form, size and contents of certificate, license or registration card; expiration and renewal; additional fee for electronic renewal.
1. The Division shall issue a certificate, license or registration card to each eligible person in the form and size prescribed by the Commission. A certificate, license or registration card must:
(a) Show the name and address of the appraiser or intern and the location of each place where he or she transacts business as an appraiser or intern;
(b) Have imprinted thereon the seal of the Commission; and
(c) Contain any additional matter prescribed by the Commission.
2. A certificate, license or registration card is valid for 2 years after the first day of the first calendar month immediately following the date it is issued.
3. If an appraiser fails to apply for the renewal of his or her certificate or license and pay the fee for renewal before the certificate or license expires, and then applies for renewal:
(a) No later than 1 year after the date of expiration, he or she must pay a fee equal to 150 percent of the amount otherwise required for renewal.
(b) Later than 1 year after the date of expiration, he or she must apply in the same manner as for an original certificate or license.
4. The Division may:
(a) Create and maintain a secure website on the Internet through which each certificate, license or registration card issued pursuant to the provisions of this chapter may be renewed; and
(b) For each certificate, license or registration card renewed through the use of a website created and maintained pursuant to paragraph (a), charge a fee in addition to any other fee provided for pursuant to this chapter which must not exceed the actual cost to the Division for providing that service.
Nev. Rev. Stat. § 645C.400 Offices of appraiser; change in name of business or location of office; record of appraisals; notices to Division.
1. An appraiser shall maintain a principal office for the transaction of his or her business as an appraiser. If the appraiser maintains additional offices in this state, he or she must obtain a duplicate certificate or license from the Division for each additional office. The appraiser shall display the certificate or license conspicuously in each of the offices.
2. An appraiser shall give written notice to the Division and surrender his or her certificate or license within 10 days after any change in the name of his or her business or the location of an office. Upon the surrender of the certificate or license and the payment of the appropriate fee, the Division shall issue a certificate or license valid for the remaining period of the original certificate or license.
3. An appraiser shall maintain a record of each appraisal he or she prepares for not less than 5 years after completion of the appraisal, and notify the Division of the location where the record is stored and of any change in that location.
4. Failure to give any notice pursuant to this section is cause for the revocation or suspension of the certificate or license or placement of the certificate or license on inactive status.
Nev. Rev. Stat. § 645C.405 Duty to report certain convictions and pleas to Division.
1. A certified or licensed appraiser or registered intern shall notify the Division in writing if he or she is convicted of, or enters a plea of guilty, guilty but mentally ill or nolo contendere to, a felony relating to the practice of appraisers or any offense involving moral turpitude.
2. A certified or licensed appraiser or registered intern shall submit the notification required by subsection 1:
(a) Not more than 10 days after the conviction or entry of the plea of guilty, guilty but mentally ill or nolo contendere; and
(b) When submitting an application to renew a certificate, license or registration card issued pursuant to this chapter.
Nev. Rev. Stat. § 645C.410 Termination of association between appraiser and intern: Duties of appraiser; suspension of registration card; prohibited acts of intern.
1. If an intern for any reason terminates his or her association with an appraiser, the appraiser shall:
(a) Immediately deliver or mail by certified mail to the Division the interns registration card, together with a written statement of the circumstances surrounding the termination of the association and a copy of the notice required by paragraph (b); and
(b) At the time of delivering or mailing the registration card to the Division, advise the intern that the registration card has been forwarded to the Division by mailing notice of that fact to the interns last known residential address.
2. The registration card must be suspended if the intern does not become associated with another certified appraiser within 60 days after the termination of the interns previous association.
3. The intern shall not assist in the preparation or communication, whether directly or indirectly, of an appraisal under the authority of his or her registration card from the date that the registration card is delivered or mailed by the appraiser with whom the interns association was terminated to the Division, until the date that a new registration card is issued naming another appraiser with whom the intern has become associated.
Nev. Rev. Stat. § 645C.420 Placement of certificate or license on inactive status; reinstatement.
1. The Division may place a certificate or license on inactive status:
(a) At the request of the appraiser;
(b) For failure of the appraiser to notify the Division pursuant to NRS 645C.400 of any change in the name or location of his or her business, or of the location or any change in the location where his or her records are stored;
(c) For failure to apply and pay the fee for renewal before the expiration of the certificate or license; or
(d) As a result of a disciplinary proceeding against the appraiser.
2. An appraiser whose certificate or license has been placed on inactive status shall not prepare or communicate appraisals until the appraiser meets all the requirements for the reinstatement of the certificate or license.
3. A certificate or license may be reinstated upon submission of the required fee and proof of completion of the required hours of continuing education, and upon approval by the Division.
Nev. Rev. Stat. § 645C.430 Continuing education: Condition to renewal or reinstatement of certificate or license; regulations.
1. An appraiser must complete the requirements for continuing education prescribed by regulations adopted by the Commission as a condition to the renewal of an active certificate or license or the reinstatement of an inactive certificate or license. Until the Commission adopts those regulations, the standards for continuing education are as follows:
(a) For the renewal of an active certificate or license, not less than 30 hours of instruction within the 2 years immediately preceding the application for renewal.
(b) For the reinstatement of a certificate or license which has been on inactive status, not less than 15 hours of instruction per year for each year that the certificate or license was on inactive status.
Ê The required hours of instruction must include the most recent edition of the 7-hour National Uniform Standards of Professional Appraisal Practice Update Course.
2. As used in this section, an hour of instruction means at least 50 minutes of actual time spent receiving instruction.
Nev. Rev. Stat. § 645C.440 Continuing education: Regulations; approval of courses.
1. The Commission shall adopt regulations governing the continuing education of certified or licensed appraisers. The regulations must include the criteria for approving each course and the requirements for submission of proof of attendance at a course.
2. In approving courses for continuing education the Commission shall authorize a variety of subjects and give consideration to specialized areas of practice and the availability of programs. An appropriate educational course given by an accredited university or community college must be approved by the Commission.
Nev. Rev. Stat. § 645C.450 Fees; regulations.
1. The following fees may be charged and collected by the Division:
Application for a certificate, license or registration card.............................. $100
Issuance or renewal of a certificate or license as a residential appraiser...... 320
Issuance or renewal of a certificate as a general appraiser.............................. 420
Issuance of a permit............................................................................................... 115
Issuance or renewal of a registration card.......................................................... 190
Issuance of a duplicate certificate or license for an additional office.............. 50
Change in the name or location of a business...................................................... 20
Reinstatement of an inactive certificate or license.............................................. 30
Annual approval of a course of instruction offered in preparation for an initial certificate or license 100
Original approval of a course of instruction offered for continuing education 100
Renewal of approval of a course of instruction offered for continuing education 50
2. In addition to any fees imposed pursuant to subsection 1, each applicant for the issuance or renewal of a certificate, license or registration card issued pursuant to this chapter must pay to the Division a technology fee of $15.
3. The Division shall adopt regulations which establish the fees to be charged and collected by the Division to pay the costs of:
(a) Any examination for a certificate or license, including any costs which are necessary for the administration of such an examination.
(b) Any investigation of a persons background.
4. The Division shall collect and remit the annual registry fee to the Federal Financial Institutions Examination Council or to the Appraisal Subcommittee, as appropriate, pursuant to 12 U.S.C. § 3338 and the rules or regulations issued thereunder.
Nev. Rev. Stat. § 645C.460 Grounds for disciplinary action; authorized disciplinary action; limitations on reissuance of certificate, license or registration card after revocation; orders imposing discipline deemed public records.
1. Grounds for disciplinary action against a certified or licensed appraiser or registered intern include:
(a) Unprofessional conduct;
(b) Professional incompetence;
(c) Any violation of NRS 645C.557 ;
(d) A criminal conviction for a felony relating to the practice of appraisers or any offense involving moral turpitude; and
(e) The suspension, revocation or voluntary surrender in lieu of other discipline of a registration card, certificate, license or permit to act as an appraiser in any other jurisdiction.
2. If grounds for disciplinary action against an appraiser or intern exist, the Commission may do one or more of the following:
(a) Revoke or suspend the appraisers or interns certificate, license or registration card.
(b) Place conditions upon his or her certificate, license or registration card, or upon the reissuance of a certificate, license or registration card revoked pursuant to this section.
(c) Deny the renewal of his or her certificate, license or registration card.
(d) Impose a fine of not more than $10,000 for each violation.
3. If a certificate, license or registration card is revoked by the Commission, another certificate, license or registration card must not be issued to the same appraiser or intern for at least 1 year after the date of the revocation, or at any time thereafter except in the sole discretion of the Administrator, and then only if the appraiser or intern satisfies all the requirements for an original certificate, license or registration card.
4. An order that imposes discipline and the findings of fact and conclusions of law supporting that order are public records.
Nev. Rev. Stat. § 645C.463 Disciplinary or other action for failure to pay money owed to Commission or Division.
In addition to any other remedy or penalty, the Commission or the Division, as appropriate, may:
1. Refuse to issue a certificate, license or registration card to a person who has failed to pay money which the person owes to the Commission or the Division.
2. Refuse to renew, or suspend or revoke, the certificate, license or registration card of a person who has failed to pay money which the person owes to the Commission or the Division.
Nev. Rev. Stat. § 645C.465 Suspension of license, certificate or registration card for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of license, certificate or registration card. [Effective until 2 years after the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
1. If the Division receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is the holder of a license, certificate or registration card issued pursuant to this chapter, the Division shall deem the license, certificate or registration card issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Division receives a letter issued to the holder of the license, certificate or registration card by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the license, certificate or registration card has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560 .
2. The Division shall reinstate a license, certificate or registration card issued pursuant to this chapter that has been suspended by a district court pursuant to NRS 425.540 if the Division receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose license, certificate or registration card was suspended stating that the person whose license, certificate or registration card was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560 .
Nev. Rev. Stat. § 645C.470 Unprofessional conduct of certified or licensed appraiser or registered intern.
A certified or licensed appraiser or registered intern is guilty of unprofessional conduct if he or she:
1. Willfully uses a trade name, service mark or insigne indicating membership in an organization for appraisers of which he or she is not a member;
2. Violates any order of the Commission, agreement with the Division, provision of this chapter or provision of any regulation adopted pursuant to this chapter;
3. Fails to disclose to any person with whom he or she is dealing any material fact or other information he or she knows, or in the exercise of reasonable care and diligence should know, concerning or relating to any real estate he or she appraises, including any interest he or she has in the real estate;
4. Knowingly communicates a false or fraudulent appraisal to any interested person or otherwise engages in any deceitful, fraudulent or dishonest conduct;
5. Prepares or provides or enters into a contract to prepare or provide an appraisal if his or her compensation is based partially or entirely on, or is otherwise affected by, the amount of the appraised value of the real estate;
6. Before obtaining a license or registration card, engaged in any conduct of which the Division is not aware that would be a ground for the denial of a certificate, license or registration card; or
7. Makes a false statement of material fact on his or her application.
Nev. Rev. Stat. § 645C.480 Additional acts of unprofessional conduct of certified or licensed appraiser.
1. A certified or licensed appraiser is guilty of unprofessional conduct if the certified or licensed appraiser:
(a) Fails to produce any document, book or record in his or her possession or under his or her control after being requested to do so by the Division as part of its investigation of a complaint;
(b) Refuses to prepare or communicate an appraisal because of age, race, color, national origin, disability, sexual orientation, gender identity or expression, familial status, sex or ethnic group; or
(c) Fails to supervise adequately an intern associated with him or her.
2. As used in this section:
(a) Disability means, with respect to a person:
(1) A physical or mental impairment that substantially limits one or more of the major life activities of the person;
(2) A record of such an impairment; or
(3) Being regarded as having such an impairment.
(b) Familial status means the fact that a person:
(1) Lives with a child under the age of 18 and has:
(I) Lawful custody of the child; or
(II) Written permission to live with the child from the person who has lawful custody of the child;
(2) Is pregnant; or
(3) Has begun a proceeding to adopt or otherwise obtain lawful custody of a child.
Nev. Rev. Stat. § 645C.490 Revocation or suspension of certificate, license or registration card for unprofessional conduct of associate.
Unprofessional conduct by an appraiser is not a ground for the revocation or suspension of the registration card of an intern, or the certificate or license of another appraiser, who is associated with that appraiser unless it appears to the satisfaction of the Commission that the associate knew or should have known of that conduct. A course of conduct which is shown to have been persistently and consistently followed by the appraiser guilty of unprofessional conduct is prima facie evidence of that knowledge on the part of the associate.
Nev. Rev. Stat. § 645C.500 Revocation, suspension or denial of renewal of certificate, license or registration card: Complaint; hearing; notice of hearing. [Effective until 2 years after the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
1. Except as otherwise provided in NRS 425.540 , the procedure set forth in this section and NRS 645C.510 and 645C.520 must be followed before the Commission revokes, suspends or denies the renewal of a certificate, license or registration card.
2. Upon the initiation of a complaint by the Administrator, the Administrator shall set the matter for a hearing and schedule a date for the hearing before the Commission. The appraiser or intern is entitled to appear at the hearing in person and to be represented by counsel.
3. The Commission shall hold the hearing within 90 days after the filing of a complaint by the Administrator. The hearing may be continued by the Commission upon its own motion, or at the discretion of the Commission upon the written request of the Division, appraiser or intern, for good cause shown.
4. The Division shall give written notice of the date, time and place of the hearing, together with a copy of the complaint and copies of all communications, reports, affidavits or depositions in the possession of the Division relevant to the complaint, to the appraiser or intern not less than 30 days before the hearing. The Division may present evidence it obtains after the notice was given only if it shows that the evidence was not available upon diligent investigation before the notice was given and that the evidence was given or communicated to the appraiser or intern immediately after it was obtained.
5. Notice pursuant to this section is deemed to be given upon personal delivery to the appraiser or intern, or upon mailing by certified mail to his or her last known address. If the complaint is against an intern, the Division shall also notify the appraiser with whom the intern is associated by mailing an exact statement of the charges, and the date, time and place of the hearing, by certified mail to the last known address of the appraiser.
Nev. Rev. Stat. § 645C.510 Revocation, suspension or denial of renewal of certificate, license or registration card: Answer or default; limitations on time for commencement of proceeding.
1. The appraiser or intern must file an answer to the charges with the Commission not later than 30 days after service of the notice and other documents described in NRS 645C.500 . The answer must contain an admission or denial of the allegations contained in the complaint and any defenses upon which the appraiser or intern will rely. If no answer is filed within the period described in this subsection, the Division may, after notice to the appraiser or intern given in the manner provided in subsection 5 of NRS 645C.500 , move the Commission for the entry of a default against the appraiser or intern.
2. The answer may be served by delivery to the Commission, or by mailing the answer by certified mail to the principal office of the Division.
3. No proceeding to suspend, revoke or deny the renewal of a certificate, license or registration card may be maintained unless it is commenced by giving notice to the appraiser or intern within 5 years after the commission or omission of the alleged grounds to suspend, revoke or deny the renewal of the certificate, license or registration, except that:
(a) If the charges are based upon a misrepresentation or failure to disclose, the period does not commence until the discovery of facts which do or should lead to the discovery of the misrepresentation or failure to disclose; and
(b) The period is suspended during the pendency of any action or proceeding, to which the Division, appraiser or intern is a party, which involves the conduct of the appraiser or intern in a transaction to which the alleged grounds to suspend, revoke or deny the renewal of the certificate, license or registration are related.
Nev. Rev. Stat. § 645C.520 Revocation, suspension or denial of renewal of certificate, license or registration card: Notice of decision.
The Commission shall render a decision within 15 days after a hearing and serve the appraiser or intern with written notice of the decision within 60 days after the hearing. If the decision is adverse to the appraiser or intern, the notice must include the date upon which the decision becomes effective, which must be not less than 30 days after the date of the notice.
Nev. Rev. Stat. § 645C.525 Investigations, disciplinary proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of certificate, license or registration card.
The expiration or revocation of a certificate, license or registration card by operation of law or by order or decision of the Commission or a court of competent jurisdiction, or the voluntary surrender of a certificate, license or registration card by a certified or licensed appraiser or registered intern does not:
1. Prohibit the Commission or Division from initiating or continuing an investigation of, or action or disciplinary proceeding against, the certified or licensed appraiser or registered intern as authorized pursuant to the provisions of this chapter or the regulations adopted pursuant thereto; or
2. Prevent the imposition or collection of any fine or penalty authorized pursuant to the provisions of this chapter or the regulations adopted pursuant thereto against the certified or licensed appraiser or registered intern.
Nev. Rev. Stat. § 645C.527 Reporting of disciplinary action against and violations by appraiser or intern to national registry of Appraisal Subcommittee.
The Division shall report to the national registry of the Appraisal Subcommittee, pursuant to 12 U.S.C. § 3338, any:
1. Sanction, final disciplinary action or revocation, suspension or denial to renew a certificate, license or registration card taken by the Commission against an appraiser or intern; and
2. Violation by an appraiser or intern of this chapter or any regulations adopted pursuant thereto.
Nev. Rev. Stat. § 645C.530 Administration of oaths; issuance and enforcement of subpoenas.
1. Any member of the Commission or investigatory staff of the Division may administer oaths and issue subpoenas to compel the attendance of witnesses and the production of books and papers.
2. If any witness refuses to attend, testify or produce any books and papers as required by the subpoena, the President of the Commission or the Administrator may report to the district court by petition, setting forth that:
(a) Due notice has been given of the time and place of attendance of the witness or the production of the books and papers;
(b) The witness has been subpoenaed by the Commission or Division pursuant to this section; and
(c) The witness has failed or refused to attend or produce the books and papers required by the subpoena before the Commission or Division, or has refused to answer questions propounded to him or her,
Ê and asking for an order of the court compelling the witness to attend and testify or produce the books and papers before the Commission or Division.
3. Upon such a petition, the court shall enter an order directing the witness to appear before the court at a time and place to be fixed by the court in its order, the time to be not more than 10 days after the date of the order, and then and there show cause why the witness has not attended, testified or produced the books or papers before the Commission or Division. A certified copy of the order must be served upon the witness.
4. If it appears to the court that the subpoena was regularly issued by the Commission or Division, the court shall enter an order that the witness appear before the Commission or Division, at the time and place fixed in the order, and testify or produce the required books and papers. Upon failure to obey the order the witness must be dealt with as for contempt of court.
Nev. Rev. Stat. § 645C.540 Payment of witnesses for fees and mileage.
1. Each witness who appears by order of the Commission is entitled to receive for his or her attendance the same fees and mileage allowed by law to a witness in a civil case, which must be paid by the party at whose request the witness is subpoenaed.
2. When a witness not otherwise required to attend is subpoenaed by the Commission, his or her fees and mileage must be paid by the Division.
Nev. Rev. Stat. § 645C.550 Injunctive relief.
1. Whenever the Division believes from evidence satisfactory to it that any person has violated or is about to violate a provision of this chapter, or a provision of any regulation, order, decision, demand or requirement of the Division or the Commission, it may bring an action, in the name of the Division, in the district court of the State of Nevada in and for the county where the person resides, or, if the person resides outside the State of Nevada, in any court of competent jurisdiction within or outside the State of Nevada, against the person to enjoin the person from engaging in or continuing the violation, or from doing any act or acts in furtherance of the violation.
2. If the action is brought in a district court of the State of Nevada, an order or judgment may be entered, when proper, awarding a temporary restraining order, preliminary injunction or final injunction. A preliminary injunction or temporary restraining order must not be granted without at least 5 days notice to the opposite party.
Nev. Rev. Stat. § 645C.557 Prohibition on improperly influencing or attempting to improperly influence appraisal; appraisals to be conducted in accordance with appraisal independence requirements.
1. A person with an interest in a real estate transaction involving an appraisal shall not improperly influence or attempt to improperly influence, through coercion, extortion or bribery, the development, reporting, result or review of the appraisal.
2. An appraiser shall conduct all appraisals independently, as required by the appraisal independence requirements pursuant to 15 U.S.C. § 1639e and the rules or regulations issued thereunder.
3. Subsection 1 does not prohibit a person with an interest in a real estate transaction from requesting that an appraiser:
(a) Consider additional appropriate property information;
(b) Provide further detail, substantiation or explanation for the appraisers conclusion as to value; or
(c) Correct errors in an appraisal.
Nev. Rev. Stat. § 645C.560 Penalties.
1. Any person who obtains or attempts to obtain a certificate, license or registration card by means of intentional misrepresentation, deceit or fraud shall be punished by imprisonment in the state prison for not less than 1 year nor more than 6 years, or by a fine of not more than $10,000, or by both a fine and imprisonment.
2. Any certified or licensed appraiser or registered intern who is guilty of unprofessional conduct shall be punished, in addition to any administrative fine imposed by the Commission, by a criminal fine of not more than $500 for each offense.
3. Any person who:
(a) Holds himself or herself out as a certified or licensed appraiser or registered intern;
(b) Uses in connection with his or her name the words licensed, registered, certified or any other title, word, letter or other designation intended to imply or designate that he or she is a certified or licensed appraiser or registered intern; or
(c) Describes or refers to any appraisal or other valuation of real estate prepared by him or her as certified or licensed in this state,
Ê without first obtaining a certificate, license or permit as provided in this chapter is guilty of a gross misdemeanor.
Nev. Rev. Stat. § 645C.600 Applicability of provisions.
The provisions of NRS 645C.600 to 645C.740, inclusive, do not apply to:
1. A person, limited-liability company, partnership, association or corporation other than an appraisal management company which, in the normal course of its business, employs persons for the performance of real estate appraisal services; or
2. An appraisal management company that is a subsidiary owned and controlled by an insured depository institution or an insured credit union and is regulated by a federal financial institutions regulatory agency. Such an appraisal management company is not required to register with the State but must pay an annual registry fee to the Division in an amount determined by the Appraisal Subcommittee in accordance with federal law.
Nev. Rev. Stat. § 645C.610 Deposit of money collected; claim for attorneys fees and costs of investigation.
If the Commission imposes a fine or a penalty or the Division collects an amount for the registration of an appraisal management company, the Commission or Division, as applicable, shall deposit the amount collected with the State Treasurer for credit to the State General Fund. The Commission may present a claim to the State Board of Examiners for recommendation to the Interim Finance Committee if money is needed to pay an attorneys fee or the cost of an investigation, or both.
Nev. Rev. Stat. § 645C.650 Application for registration: Contents; conditions for issuance of registration; grounds for and notice of denial; reapplication.
1. A person or entity that wishes to be registered as an appraisal management company in this State must file a written application with the Division upon a form prepared and furnished by the Division and pay all fees required pursuant to NRS 645C.680 . An application must:
(a) State the name, residence address and business address of the applicant and the location of each principal office and branch office at which the appraisal management company will conduct business within this State;
(b) State the name under which the applicant will conduct business as an appraisal management company;
(c) List the name, residence address and business address of each person who will, if the applicant is not a natural person, have at least a 10-percent ownership interest in the appraisal management company as a principal, partner, officer, director or trustee, specifying the capacity and title of each such person;
(d) Include a complete set of the fingerprints of the applicant or, if the applicant is not a natural person, a complete set of the fingerprints of each person who will have at least a 10-percent ownership interest in the appraisal management company as a principal, partner, officer, director or trustee, and written permission authorizing the Division to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report; and
(e) Identify the number of certified or licensed appraisers in Nevada in the network or panel currently maintained by the appraisal management company and, if applicable, the total number of certified or licensed appraisers nationwide in the network or panel currently maintained by the appraisal management company.
2. Except as otherwise provided in NRS 645C.600 to 645C.740 , inclusive, the Division shall issue a registration to an applicant as an appraisal management company if:
(a) The application is verified by the Division and complies with the requirements of NRS 645C.600 to 645C.740 , inclusive;
(b) The applicant, each owner and each general partner, officer or director of the applicant, if the applicant is a partnership, corporation or unincorporated association:
(1) Submits satisfactory proof to the Division that he or she has a good reputation for honesty, trustworthiness and integrity and displays competence to transact the business of an appraisal management company in a manner which safeguards the interests of the general public;
(2) Has not been convicted of, or entered a plea of nolo contendere to, a felony relating to the practice of appraisal or any crime involving fraud, misrepresentation or moral turpitude;
(3) Has not made a false statement of material fact on his or her application;
(4) Has never had a license that was issued pursuant to the provisions of this chapter suspended, revoked or voluntarily surrendered in lieu of suspension or revocation which has not been subsequently reinstated;
(5) Has never had a professional license that was issued in this State or any other state, district or territory of the United States or any foreign country suspended or revoked which has not been subsequently reinstated; and
(6) Has not violated any provision of this chapter, a regulation adopted pursuant thereto or an order of the Commission or the Administrator;
(c) The applicant certifies that he or she:
(1) Has a process in place to verify that each independent contractor that provides services to the appraisal management company is the holder of a license in good standing to practice appraisal in this State;
(2) Has a process in place to review the work of each independent contractor that provides services to the appraisal management company to ensure that those services are conducted in accordance with the Uniform Standards of Professional Appraisal Practice;
(3) Will maintain a detailed record of each request for service it receives and the independent contractor who fulfilled that request;
(4) Has a system in place to ensure that all appraisals are conducted independently, as required by the appraisal independence requirements pursuant to 15 U.S.C. § 1639e and any rules or regulations issued thereunder; and
(5) Has a system in place to ensure that the appraisal management company is selecting a certified or licensed appraiser who has the requisite education, expertise and experience necessary to competently complete the appraisal assignment for the particular market and property type; and
(d) The applicant discloses whether or not the company uses an appraiser fee schedule. For the purposes of this paragraph, appraiser fee schedule means a list of the various real estate appraisal services requested by the appraisal management company from independent contractors and the amount the company will pay for the performance of each service listed.
3. The Division shall deny an application for registration of an appraisal management company, if in the course of its investigation, the Division determines that the application fails to comply with or meet the standards specified in this chapter or any regulations adopted pursuant thereto. If an application for registration is denied, the Division shall notify the applicant within 15 days after its decision.
4. An applicant who is denied registration pursuant to subsection 3 may reapply to the Division within 30 days after receipt of the notice denying the application for registration. The reapplication must demonstrate through a written statement, containing any necessary supporting evidence, that an error was made in the original application and that the applicant does otherwise qualify for registration. Denial of a reapplication for registration is not appealable.
5. If an applicant fails to reapply within 30 days after receipt of the notice denying the application for registration, the applicant may not reapply for registration for 1 year.
6. Failure to reapply within 30 days after receipt of the notice denying the application for registration is not appealable.
Nev. Rev. Stat. § 645C.655 Payment of child support: Submission of certain information by applicant; grounds for denial of registration; duty of Division. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
1. In addition to any other requirements set forth in this chapter:
(a) An applicant for the issuance of a registration as an appraisal management company shall include the social security number of the applicant in the application submitted to the Division.
(b) An applicant for the issuance or renewal of a registration as an appraisal management company shall submit to the Division the statement prescribed by the Division of Social Services of the Department of Human Services pursuant to NRS 425.520 . The statement must be completed and signed by the applicant.
2. The Division shall include the statement required pursuant to subsection 1 in:
(a) The application or any other forms that must be submitted for the issuance or renewal of the registration; or
(b) A separate form prescribed by the Division.
3. A registration as an appraisal management company may not be issued or renewed by the Division if the applicant:
(a) Fails to submit the statement required pursuant to subsection 1; or
(b) Indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.
4. If an applicant indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the Division shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.
Nev. Rev. Stat. § 645C.660 Service of process: Irrevocable consent; effect of failure to file consent; method; use; effect on continuances.
1. An applicant for registration under NRS 645C.600 to 645C.740 , inclusive, shall file with the Division, in a form prescribed by regulation, an irrevocable consent appointing the Administrator his or her agent for service of process in a noncriminal proceeding against the applicant, a successor or personal representative which arises under NRS 645C.600 to 645C.740 , inclusive, or a regulation or order of the Commission after the consent is filed, with the same force and validity as if served personally on the person filing the consent.
2. A person who has filed a consent complying with subsection 1 in connection with a previous application for registration need not file an additional consent.
3. If a person, including a nonresident of this State, engages in conduct prohibited or made actionable by NRS 645C.600 to 645C.740 , inclusive, or a regulation or order of the Commission and the person has not filed a consent to service of process under subsection 1, engaging in the conduct constitutes the appointment of the Administrator as the persons agent for service of process in a noncriminal proceeding against the person, a successor or personal representative which grows out of the conduct.
4. Service under subsection 1 or 3 may be made by leaving a copy of the process in the Office of the Administrator, but it is not effective unless:
(a) The plaintiff, who may be the Administrator, sends notice of the service and a copy of the process by registered or certified mail, return receipt requested, to the defendant or respondent at the address set forth in the consent to service of process or, if no consent to service of process has been filed, at the last known address, or takes other steps which are reasonably calculated to give actual notice; and
(b) The plaintiff files an affidavit of compliance with this subsection in the proceeding on or before the return day of the process, if any, or within such further time as the court, or the Administrator in a proceeding before the Administrator, allows.
5. Service as provided in subsection 4 may be used in a proceeding before the Administrator or by the Administrator in a proceeding in which the Administrator is the moving party.
6. If the process is served under subsection 4, the court, or the Administrator in a proceeding before the Administrator, may order continuances as may be necessary to afford the defendant or respondent reasonable opportunity to defend.
Nev. Rev. Stat. § 645C.665 Registration: Expiration; requirements for renewal; grounds for denial of renewal.
1. A registration issued pursuant to NRS 645C.600 to 645C.740 , inclusive, expires each year on the date of its issuance, unless it is renewed. To renew such a registration, the registrant must submit to the Division on or before the expiration date:
(a) An application for renewal, which may include an update of all the information required by NRS 645C.650 , 645C.655 and 645C.660 ;
(b) All fees required to renew the registration pursuant to NRS 645C.680 ; and
(c) All information required to complete the renewal.
2. The Division shall deny an application for renewal of a registration as an appraisal management company if in the course of its investigation the Division determines that the application fails to comply with or meet the standards specified in this chapter or any regulations adopted pursuant thereto.
Nev. Rev. Stat. § 645C.667 Registration: Notification of denial of application for renewal; procedure for appeal of denial.
1. If an application for renewal of a registration as an appraisal management company is denied pursuant to NRS 645C.665 , the Division shall notify the registrant within 15 days after its decision.
2. If the registrant, within 30 days after receipt of the notice denying the application for renewal, files a written request containing allegations which, if true, qualify the registrant for renewal of a registration, the President of the Commission shall set the matter for a hearing to be conducted within 90 days after receipt of the registrants request.
3. The hearing must be held at a time and place prescribed by the Commission. At least 15 days before the date set for the hearing, the Division shall serve the registrant with written notice of the hearing and include with the notice an exact copy of any protests filed, together with copies of all communications, reports, affidavits or depositions in possession of the Division relevant to the matter in question. The notice may be served by personal delivery to the registrant, or by certified mail to the registrants last known business or residential address.
4. The hearing may be held by the Commission or a majority thereof, and a hearing must be held if the registrant so desires. A record of the proceedings, or any part thereof, must be made available to each party upon the payment to the Division of the reasonable cost of transcription.
5. The Commission shall render a decision on the matter within 60 days after the final hearing and notify the parties to the proceedings, in writing, of its ruling, order or decision within 15 days after it is made.
Nev. Rev. Stat. § 645C.670 Appraisal management company that is not natural person required to designate natural person as qualified employee; regulations.
1. If an appraisal management company is not a natural person, the company must designate a natural person as a qualified employee to act on behalf of the appraisal management company.
2. The Commission shall adopt regulations regarding a qualified employee, including, without limitation, regulations that establish:
(a) A definition for the term qualified employee;
(b) Any duties of a qualified employee; and
(c) Any requirements regarding a qualified employee.
Nev. Rev. Stat. § 645C.675 Termination of association between appraisal management company and independent contractor: Duties of appraisal management company; rights of aggrieved independent contractor.
1. If an appraisal management company terminates its association with an independent contractor for any reason, the appraisal management company shall, not later than the third business day following the date of termination, deliver to the independent contractor or send by certified mail to the last known residence address of the independent contractor a written statement which advises the independent contractor of the termination.
2. An independent contractor who is aggrieved by a termination may lodge a complaint with the Commission. The Commission may consider whether the appraisal management company violated the provisions of NRS 645C.600 to 645C.740 , inclusive, and may revoke, suspend or deny renewal of a registration in the manner set forth in NRS 645C.702 to 645C.705 , inclusive.
Nev. Rev. Stat. § 645C.680 Fees; regulations.
1. The Division, with advice from the Commission, shall establish by regulation fees for appraisal management companies, including, without limitation, fees for:
(a) Application for registration;
(b) Registration;
(c) Renewal of registration;
(d) Late renewal of registration;
(e) Investigation of applicants; and
(f) Inactive status.
2. In addition to the fees established pursuant to subsection 1, each applicant for the issuance or renewal of a registration as an appraisal management company must pay to the Division a technology fee of $15.
3. Except as otherwise provided in this subsection, the Division shall collect and remit the annual registry fee to the Federal Financial Institutions Examination Council or to the Appraisal Subcommittee, as appropriate, pursuant to 12 U.S.C. § 3338 and the rules or regulations issued thereunder. The fee required by this subsection must be collected from an appraisal management company only if, during the applicable year, the appraisal management company oversees a network or panel of more than 15 certified or licensed appraisers in this State or 25 or more certified or licensed appraisers nationally.
Nev. Rev. Stat. § 645C.700 Suspension of registration for failure to pay child support or comply with certain subpoenas or warrants; reinstatement of registration. [Effective until 2 years after the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
1. If the Division receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a holder of a registration, the Division shall deem the registration to be suspended at the end of the 30th day after the date the court order was issued unless the Division receives a letter issued to the holder of the registration by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the registration has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560 .
2. The Division shall reinstate a registration that has been suspended by a district court pursuant to NRS 425.540 if the Division receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the holder of the registration stating that the holder of the registration has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560 .
Nev. Rev. Stat. § 645C.702 Revocation or suspension of registration: Complaint; hearing; notice of hearing.
1. The procedure set forth in this section and NRS 645C.703 and 645C.704 must be followed before the Commission revokes or suspends a registration as an appraisal management company.
2. Upon the initiation of a complaint by the Administrator, the Administrator shall set the matter for a hearing and schedule a date for the hearing before the Commission. The registrant is entitled to appear at the hearing in person and to be represented by counsel.
3. The Commission shall hold the hearing within 90 days after the filing of a complaint by the Administrator. The hearing may be continued by the Commission upon its own motion, or at the discretion of the Commission upon the written request of the Division or registrant, for good cause shown.
4. The Division shall give written notice of the date, time and place of the hearing, together with a copy of the complaint and copies of all communications, reports, affidavits or depositions in the possession of the Division relevant to the complaint, to the registrant not less than 30 days before the hearing. The Division may present evidence which the Division obtains after the notice was given only if the Division shows that the evidence was not available upon diligent investigation before the notice was given and that the evidence was given or communicated to the registrant immediately after the evidence was obtained.
5. Notice pursuant to this section is deemed to be given upon personal delivery to the registrant, or upon mailing by certified mail to the registrants last known address.
Nev. Rev. Stat. § 645C.703 Revocation or suspension of registration: Answer or default; limitations on time for commencement of proceeding.
1. The registrant must file an answer to the charges with the Commission not later than 30 days after service of the notice and other documents described in NRS 645C.702 . The answer must contain an admission or denial of the allegations contained in the complaint and any defense upon which the registrant will rely. If no answer is filed within the period described in this subsection, the Division may, after notice to the registrant is given in the manner provided in subsection 5 of NRS 645C.702 , move the Commission for the entry of a default against the registrant.
2. The answer may be served by delivery to the Commission, or by mailing the answer by certified mail to the principal office of the Division.
3. No proceeding to suspend or revoke a registration as an appraisal management company may be maintained unless it is commenced by giving notice to the registrant within 5 years after the commission or omission of the alleged grounds to suspend or revoke the registration as an appraisal management company, except that:
(a) If the charges are based upon a misrepresentation or failure to disclose, the period does not commence until the discovery of facts which do or should lead to the discovery of the misrepresentation or failure to disclose; and
(b) The period is suspended during the pendency of any action or proceeding, to which the Division, registrant or one of the affiliated appraisers of the registrant is a party, which involves the conduct of the registrant or the affiliated appraiser in a transaction to which the alleged grounds to suspend or revoke the registration are related.
Nev. Rev. Stat. § 645C.704 Revocation or suspension of registration: Notice of decision.
The Commission shall render a decision within 15 days after a hearing and serve the registrant with a written notice of the decision within 60 days after the hearing. If the decision is adverse to the registrant, the notice must include the date upon which the decision becomes effective, which must not be less than 30 days after the date of the notice.
Nev. Rev. Stat. § 645C.705 Investigations, disciplinary proceedings, fines and penalties not affected by expiration, revocation or voluntary surrender of registration.
The expiration, revocation or suspension of a registration as an appraisal management company by operation of law or by order or decision of the Commission or a court of competent jurisdiction, or the voluntary surrender of a registration by an appraisal management company, does not:
1. Prohibit the Commission or Division from initiating or continuing an investigation of, or an action or disciplinary proceeding against, the appraisal management company, or any affiliated appraiser of the appraisal management company, as authorized pursuant to the provisions of this chapter or the regulations adopted pursuant thereto; or
2. Prevent the imposition or collection of any fine or penalty authorized pursuant to the provisions of this chapter or the regulations adopted pursuant thereto against the appraisal management company.
Nev. Rev. Stat. § 645C.706 Reporting of disciplinary and other action against and violations by appraisal management company to national registry of Appraisal Subcommittee.
The Division shall report to the national registry of the Appraisal Subcommittee, pursuant to 12 U.S.C. § 3338, any:
1. Supervisory activity, investigation, final disciplinary action or revocation, suspension or denial to renew of a registration taken by the Commission against an appraisal management company; and
2. Violation by an appraisal management company of this chapter or any regulations adopted pursuant thereto.
Nev. Rev. Stat. § 645C.710 Administrative fines: Grounds; amount; related disciplinary action.
1. For each violation committed by an applicant for a registration issued pursuant to NRS 645C.600 to 645C.740 , inclusive, whether or not the applicant is issued a registration, the Commission may impose upon the applicant an administrative fine of not more than $10,000 if the applicant:
(a) Has knowingly made or caused to be made to the Commission any false representation of material fact;
(b) Has suppressed or withheld from the Commission any information which the applicant possesses and which, if submitted by the applicant, would have rendered the applicant ineligible to be registered pursuant to the provisions of NRS 645C.600 to 645C.740 , inclusive; or
(c) Has violated any provision of NRS 645C.600 to 645C.740 , inclusive, a regulation adopted pursuant to NRS 645C.600 to 645C.740 , inclusive, or an order of the Commission in completing and filing the application for a registration or during the course of the investigation of the application for a registration.
2. For each violation committed by an appraisal management company, the Commission may impose upon the appraisal management company an administrative fine of not more than $10,000, may suspend, revoke or place conditions on the registration or may do both, if the appraisal management company, whether or not acting as such:
(a) Is grossly negligent or incompetent in performing any act for which the appraisal management company is required to be registered pursuant to NRS 645C.600 to 645C.740 , inclusive;
(b) Does not conduct its business in accordance with the law or has violated any provision of this chapter, a regulation adopted pursuant thereto or an order of the Commission;
(c) Has made a material misrepresentation in connection with any transaction governed by this chapter;
(d) Has suppressed or withheld from a client any material facts, data or other information relating to any transaction governed by the provisions of this chapter which the appraisal management company knew or, by the exercise of reasonable diligence, should have known;
(e) Has knowingly made or caused to be made to the Commission any false representation of material fact or has suppressed or withheld from the Commission any information which the appraisal management company possesses and which, if submitted by the appraisal management company, would have rendered the appraisal management company ineligible to be registered pursuant to the provisions of NRS 645C.600 to 645C.740 , inclusive;
(f) Has been convicted of, or entered a plea of nolo contendere to, a felony relating to the practice of appraisal or any crime involving fraud, misrepresentation or moral turpitude; or
(g) Has engaged in any other conduct constituting a deceitful, fraudulent or dishonest business practice.
3. The Commission shall revoke the registration of an appraisal management company if the appraiser license or certificate of one of its owners is refused, denied, cancelled, surrendered or revoked in any state.
Nev. Rev. Stat. § 645C.720 Unlawful to conduct business of appraisal management company without registration.
Except as otherwise provided in NRS 645C.600, it is unlawful for any person, limited-liability company, partnership, association or corporation to engage in the business of, act in the capacity of, advertise or assume to act as an appraisal management company without first obtaining a registration from the Division pursuant to NRS 645C.600 to 645C.740, inclusive.
Nev. Rev. Stat. § 645C.730 Unlawful to influence or attempt to influence appraisal.
1. It is unlawful for an employee, director, officer or agent of an appraisal management company to influence or attempt to influence the development, reporting or review of an appraisal through coercion, extortion, collusion, compensation, instruction, inducement, intimidation, bribery or other means, including, without limitation:
(a) Withholding or threatening to withhold timely payment for an appraisal in order to influence or attempt to influence an appraisal;
(b) Withholding or threatening to withhold future business for an independent appraiser;
(c) Terminating an agreement with an independent contractor without prior written notice;
(d) Directly or indirectly promising future business for or increased compensation to an independent contractor;
(e) Conditioning a request for appraisal services or the payment of any compensation on the opinion, conclusion or valuation to be reached or on a preliminary estimate or opinion requested from an independent contractor;
(f) Requesting an independent contractor to provide an estimated, predetermined or desired valuation in an appraisal report or providing estimated values or comparable sales at any time before the completion of appraisal services by the independent contractor;
(g) Providing to an independent contractor an anticipated, estimated or desired value for a subject property or proposed or target amount to be loaned to a borrower, other than a copy of the sales contract for purchase transactions;
(h) Providing an independent contractor or a person or entity associated with the independent contractor stock or other financial or nonfinancial benefits;
(i) Obtaining, using or paying for a second or subsequent appraisal or ordering an automated valuation model in connection with a loan secured by a lien on real property unless:
(1) There is a reasonable basis to believe that the initial appraisal was incorrect and such basis is disclosed in writing to the borrower; or
(2) The second or subsequent appraisal or automated valuation model is performed pursuant to a bona fide appraisal review or quality control process;
(j) Accepting a fee for performing appraisal management services if the fee is contingent on:
(1) An appraisal report having a predetermined analysis, opinion or conclusion;
(2) The analysis, opinion, conclusion or valuation reached in an appraisal report; or
(3) The consequences resulting from an appraisal assignment; or
(k) Any other act or practice that impairs or attempts to impair an appraisers independence, objectivity or impartiality.
2. Nothing in this section shall be construed as prohibiting an appraisal management company from requesting that an independent contractor provide additional information regarding the basis for a valuation or correct objective factual errors in an appraisal report.
Nev. Rev. Stat. § 645C.740 Unlawful to change appraisal submitted by independent contractor.
It is unlawful for an appraisal management company to alter, modify or revise a completed appraisal report submitted by an independent contractor, including, without limitation, removing the signature of the appraiser.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-645C.htmlFetched: 10/4/2026