Nevada Revised Statutes 645B.093 – Commingling certain money prohibited
1. A mortgage company who is a broker-dealer or a sales representative licensed pursuant to NRS 90.310 or who is exempt from licensure pursuant to NRS 90.320:
Terms Used In Nevada Revised Statutes 645B.093
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037
(a) Shall not commingle money received for mortgage transactions and money received for securities transactions; and
(b) Shall ensure that all money received for mortgage transactions is accounted for separately from all money received for securities transactions.
2. A mortgage company who is an investment adviser or a representative of an investment adviser licensed pursuant to NRS 90.330 or exempt from licensure pursuant to NRS 90.340 or 90.345:
(a) Shall not commingle money received for mortgage transactions and money received for securities transactions; and
(b) Shall ensure that all money received for mortgage transactions is accounted for separately from all money received for securities transactions.