645F.290 - Assessments paid by regulated entities for legal services provided by Attorney General to Commissioner and Division. - Nevada Statutes

645F.290  Assessments paid by regulated entities for legal services provided by Attorney General to Commissioner and Division.

      1.  The Commissioner shall collect an assessment pursuant to this section from each:

      (a) Escrow agency that is supervised pursuant to chapter 645A of NRS;

      (b) Mortgage broker that is supervised pursuant to chapter 645B of NRS;

      (c) Mortgage agent that is supervised pursuant to chapter 645B or 645E of NRS;

      (d) Mortgage banker that is supervised pursuant to chapter 645E of NRS; and

      (e) Person who performs any covered service for compensation, each foreclosure consultant and each loan modification consultant that is supervised pursuant to this chapter.

      2.  The Commissioner shall determine the total amount of all assessments to be collected from the entities identified in subsection 1, but that amount must not exceed the amount necessary to recover the cost of legal services provided by the Attorney General to the Commissioner and to the Division. The total amount of all assessments collected must be reduced by any amounts collected by the Commissioner from an entity for the recovery of the costs of legal services provided by the Attorney General in a specific case.

      3.  The Commissioner shall collect from each entity identified in subsection 1 an assessment that is based on:

      (a) An equal basis; or

      (b) Any other reasonable basis adopted by the Commissioner.

      4.  The assessment required by this section is in addition to any other assessment, fee or cost required by law to be paid by an entity identified in subsection 1.

      5.  Money collected by the Commissioner pursuant to this section must be deposited in the Fund for Mortgage Lending created by NRS 645F.270.

      (Added to NRS by 2003, 3538; A 2003, 20th Special Session, 258; 2009, 1459, 2689)