NRS 645A.040 Expiration; renewal; fees; deposit of money received.

370 words·~2 min read·/nv/chapter-645a-escrow-agencies-and-agents/645a-040·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. Every license issued pursuant to the provisions of this chapter expires on July 1 of each year if it is not renewed. A license may be renewed by filing an application for renewal, paying the annual fee for the succeeding year and submitting all information required to complete the renewal.

2. The fees for the issuance or renewal of a license for an escrow agency are:

(a)For filing an application for an initial license, $500 for the principal office and $100 for each branch office.

(b)If the license is approved for issuance, $200 for the principal office and $100 for each branch office. The fee must be paid before issuance of the license.

(c)For filing an application for renewal, $200 for the principal office and $100 for each branch office.

3. The fees for the issuance or renewal of a license for an escrow agent are:

(a)For filing an application for an initial license or for the renewal of a license, $100.

(b)If a license is approved for issuance or renewal, $25. The fee must be paid before the issuance or renewal of the license.

4. If a licensee fails to pay the fee or submit all required information for the annual renewal of his or her license before its expiration, the license may be renewed only upon the payment of a fee one and one-half times the amount otherwise required for renewal. A license may be renewed pursuant to this subsection only if all the fees are paid and all required information is submitted within 2 months after the date on which the license expired.

5. In addition to the other fees set forth in this section, each applicant or licensee shall pay:

(a)For filing an application for a duplicate copy of any license, upon satisfactory showing of its loss, $10.

(b)For filing any change of information contained in the application, $10.

(c)For each change of association with an escrow agency, $25.

6. Except as otherwise provided in this chapter, all fees received pursuant to this chapter must be deposited in the Account for Mortgage Lending created by NRS 645F.270 .