Nev. Admin. Code § 645B.032 - Sharing office space with another business

1. Except as otherwise provided in subsection 2, a mortgage company may share office space with any other business if each business has a designated space within the office space and each business is separately identifiable by a sign or other method of identification within the office space.

2. A mortgage company may share office space with a business licensed pursuant to chapter 645 of NRS if:

(a) Each business has separate and distinct office space and signs such that a reasonable customer would understand which business he or she is transacting with at all times;

(b) Each business operates as a separate legal entity;

(c) Each business maintains separate accounts, books and records;

(d) Each business maintains separate licenses; and

(e) The businesses are subsidiaries of the same parent corporation or are otherwise affiliated businesses.

Notes

Nev. Admin. Code § 645B.032

Added to NAC by Comm'r of Mortgage Lending by R087-04, eff. 8-31-2004; A by R119-19A, eff. 11/9/2023

NRS 645B.020, 645B.060, 645F.292, 645F.293