645E.292 - Duties of mortgage banker upon termination of mortgage agent. - Nevada Statutes

645E.292  Duties of mortgage banker upon termination of mortgage agent.  If a mortgage agent terminates his or her association or employment with a mortgage banker for any reason, the mortgage banker shall, not later than 3 business days following knowledge of the date of termination:

      1.  Deliver to the mortgage agent or send by certified mail to the last known residence address of the mortgage agent a written statement which advises the mortgage agent that the termination is being reported to the Division; and

      2.  Deliver or send by certified mail to the Division:

      (a) The license or license number of the mortgage agent;

      (b) A written statement of the circumstances surrounding the termination; and

      (c) A copy of the written statement that the mortgage banker delivers or mails to the mortgage agent pursuant to subsection 1.

      (Added to NRS by 2009, 2687)