645B.430 - Annual expiration of license; procedure for renewal; continuing education; fees.
645B.430 Annual expiration of license; procedure for renewal; continuing education; fees.
1. A license as a mortgage agent issued pursuant to NRS 645B.410 expires 1 year after the date the license is issued, unless it is renewed. To renew a license as a mortgage agent, the holder of the license must submit to the Commissioner each year, on or before the date the license expires:
(a) An application for renewal;
(b) Except as otherwise provided in this section, satisfactory proof that the holder of the license as a mortgage agent attended at least 10 hours of certified courses of continuing education during the 12 months immediately preceding the date on which the license expires; and
(c) A renewal fee set by the Commissioner of not more than $170.
2. If the holder of the license as a mortgage agent fails to submit any item required pursuant to subsection 1 to the Commissioner each year on or before the date the license expires, the license is cancelled. The Commissioner may reinstate a cancelled license if the holder of the license submits to the Commissioner:
(a) An application for renewal;
(b) The fee required to renew the license pursuant to this section; and
(c) A reinstatement fee of $75.
3. To be issued a duplicate copy of a license as a mortgage agent, a person must make a satisfactory showing of its loss and pay a fee of $10.
4. To change the mortgage broker with whom the mortgage agent is associated, a person must pay a fee of $10.
5. Money received by the Commissioner pursuant to this section is in addition to any fee that must be paid to the Registry and must be deposited in the Fund for Mortgage Lending created by NRS 645F.270.
6. The Commissioner may provide by regulation that any hours of a certified course of continuing education attended during a 12-month period, but not needed to satisfy a requirement set forth in this section for the 12-month period in which the hours were taken, may be used to satisfy a requirement set forth in this section for a later 12-month period.
7. As used in this section, “certified course of continuing education” has the meaning ascribed to it in NRS 645B.051.
(Added to NRS by 2003, 3544; A 2009, 2683)