Regulation Changes

NAC 645 CHANGES

NAC 645 Changes
CHAPTER DESCRIPTION REGULATION CHANGES
NAC 645 Changes regarding the requirements for real estate continuing education and for postlicensing courses, specifies requirements for broker-salesperson or salesperson on behalf of a limited-liability company, revises provisions for postlicensing education and continuing education, requires registration of instructors with the Division, establishes procedures for the issuance, renewal and withdrawal of instructor registrations, revises criteria for approval of distance education courses, revises procedures governing the withdrawal of course approval by the Administrator, revises requirements for student eligibility to receive credit, authorizes the Division to publish certain materials and expands the circumstances under which the Administrator may require payment of an administrative fine.  R199-22 (Filed 9-16-24)
NAC 645 Changes regarding real estate continuing education requirements including exempting certain licensees who are 65 of age or older, advertise services using a nickname, provisions relating to applicants for licensure as a real estate broker, real estate broker-salesperson or real estate salesperson, transferring certain duties of the Real Estate Commission, and the advertisement of the services of a licensee R060-20 (Filed 12-29-20)
NAC 645   Changes regarding real estate continuing education requirements, Division’s investigation of the financial responsibility of an applicant for a broker license, the period of time that the Division will accept applicant’s exam results and proof which a licensee must submit to renew or reinstate a license R004-16 (Effective 2-27-18)
NAC 645   Changes regarding real estate experience verification, real estate educational courses and annual accounting of trust accounts

R097-14 (Effective 4-4-16)  
NAC 645C   Appraisal continuing education course developers and instructors

R073-15 (Effective 4-4-16)   

NAC 116 Changes

NAC 116 Changes
CHAPTER DESCRIPTION REGULATION CHANGES
NAC 116  Changes regarding the submission of information by the executive board to the Division; consideration of board member performance of duties by Commission; establishing provisions concerning standards and format to be followed in preparation and presentation of financial statements; revising provisions relating to reserve funds required; revising fees for cost of collection of past-due unit owner obligations; removing certain obsolete provisions relating to the payment of certain fees; revising annual fee for Condo-Hotel units. R129-21
(Effective 12-29-22)

NAC 119 Changes

NAC 119 Changes
CHAPTER DESCRIPTION REGULATION CHANGES
NAC 119A
  • Changes relating to time share provisions for abbreviated registrations and registration of certain exchange companies and resale brokers.
  • Revises certain definitions and provisions relating to certain persons owing money to the Division.
  • Revises provisions relating to provisional time share sales agents.
  • Revises provisions relating to branch offices.
  • Applies certain provisions to time share resale brokers.
  • Revises provisions concerning time share permits.
  • Revises provisions relating to standards and duties of certain persons.
  • Revises provisions concerning advertisements, promotional meetings and promotions.
  • Repeals certain provisions.
 		 R130-16
(Effective 8-30-18)
NAC 119A
  • Requires that disclosures pursuant to NRS 119A.4775 and notice of cancellation be given to a purchaser in paper format on a form prescribed by the Division.
  • Requires a time share resale broker to obtain a signed receipt for the disclosure form from each purchaser, provide the purchaser with a copy in paper format and keep the signed receipt with a copy of any contract at the principal place of business of the time share resale broker.
  • Requires certain disclosures appear on the disclosure form.
 		 R143-16 
(Effective 8-30-18)