645.6055 - Designated property managers: Requirements; qualifications; duties. - Nevada Statutes

645.6055  Designated property managers: Requirements; qualifications; duties.

      1.  If a real estate broker does not hold a permit to engage in property management but intends to have property management activities conducted at an office, the real estate broker must:

      (a) Appoint a person, who has the qualifications required by this section, as the designated property manager for the office to supervise the property management activities conducted at the office; and

      (b) Submit notice of the appointment to the Division.

      2.  The designated property manager for an office must be a natural person who:

      (a) Holds a license as a real estate broker or real estate broker-salesperson;

      (b) Holds a permit to engage in property management; and

      (c) Has 2 years active experience, within the 4 years immediately preceding the date of the appointment, in conducting property management activities in the United States as a licensed real estate broker, real estate broker-salesperson or real estate salesperson.

      3.  While acting as the designated property manager for an office, the person:

      (a) Must comply with the provisions of NRS 645.6052 to 645.6058, inclusive, and all other applicable provisions of this chapter; and

      (b) Is subject to all the remedies and penalties provided for in this chapter.

      (Added to NRS by 2003, 1287)