119A.237 - Provisional sales agents: Restrictions; duties of project broker or designee of project broker; commissions. - Nevada Statutes

119A.237  Provisional sales agents: Restrictions; duties of project broker or designee of project broker; commissions.

      1.  A provisional licensee shall not:

      (a) Conduct sales-related activities unless the provisional licensee is:

             (1) Under the supervision of:

                   (I) His or her project broker; or

                   (II) A cooperating real estate broker designated by the project broker in accordance with the provisions of this chapter and any regulations adopted pursuant thereto.

             (2) At the principal place of business or a branch office of the project broker, 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 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 cooperating real estate broker designated by the project broker in accordance with the provisions of this chapter and any regulations adopted pursuant thereto shall:

      (a) Supervise the provisional licensee employed by the project broker; 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 NRS 119A.233.

      (Added to NRS by 2007, 807)