Nev. Admin. Code § 119A.083 - Provisional licensee: Restrictions; supervision; commissions
1. A provisional licensee shall not:
(a) Conduct sales-related activities unless
he or she is:
(1) Under the supervision of:
(I) His or her project broker; or
(II) A person licensed pursuant to chapter
645 of NRS.
(2) At the
principal place of business or a branch office of the project broker or person
licensed pursuant to chapter 645 of NRS or at the physical location of a
time-share development.
(b) Collect personal information from a
prospective purchaser or purchaser of a time share.
2. A project broker or person licensed
pursuant to chapter 645 of NRS shall not grant to a provisional licensee:
(a) Access to a time-share lockbox;
or
(b) The ability to enter a
private residence or a time-share unit that an unlicensed person otherwise
would not have.
3. A
project broker or a person licensed pursuant to chapter 645 of NRS shall:
(a) Supervise the provisional licensee;
and
(b) Review and approve in
writing any contract prepared by the provisional licensee that relates to the
sale of a time share.
4.
A provisional licensee may receive a commission for the sale of a time share in
which the provisional licensee is involved.
5. As used in this section:
(a) "Personal information" has the meaning
ascribed to it in NRS 603A.040.
(b) "Provisional licensee" means an applicant
who receives a provisional sales agent's license from the Division pursuant to
NAC 119A.081.
Notes
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