Nevada Revised Statutes Title 54. Professions, Occupations and Businesses § 645B.450. Conditions and limitations regarding employment of or association with mortgage loan originator; duties of mortgage company or certain exempt persons upon termination of mortgage loan originator

1. A person licensed as a mortgage loan originator pursuant to the provisions of NRS 645B.410 may not be associated with or employed by more than one licensed or registered mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016 at the same time.

2. A mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016 shall not associate with or employ a person as a mortgage loan originator or authorize a person to be associated with the mortgage company or exempt person who holds a certificate of exemption pursuant to NRS 645B.016 as a mortgage loan originator if the mortgage loan originator is not licensed with the Division pursuant to NRS 645B.410. Before allowing a mortgage loan originator to act on its behalf, a mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016, must:

3. If a mortgage loan originator terminates his or her association or employment with a mortgage company or exempt person who holds a certificate of exemption pursuant to NRS 645B.016 for any reason, the mortgage company or person who holds a certificate of exemption pursuant to NRS 645B.016 shall, not later than the third business day following the date of termination: