Nevada Revised Statutes 645.577 – Placement of license on inactive status; reinstatement
1. The Division may place a license on inactive status for any of the following reasons:
Terms Used In Nevada Revised Statutes 645.577
- owner-developer: means a person who owns five or more lots within a recorded subdivision, shown on an approved parcel map, or the parceling of which has been approved by the county, on each of which there is a single-family residence not previously sold. See Nevada Revised Statutes 645.018
- real estate: means every interest or estate in real property including but not limited to freeholds, leaseholds and interests in condominiums, town houses or planned unit developments, whether corporeal or incorporeal, and whether the real property is situated in this State or elsewhere. See Nevada Revised Statutes 645.020
(a) At the request of the licensee.
(b) If a broker’s license or a corporate officer’s license, for failure to immediately notify the Division in writing of any change in the name of the licensee’s firm or its business location.
(c) If a broker-salesperson’s license or a salesperson’s license, for failure to notify the Division of a change in the broker or owner-developer with whom the licensee will be associated within 30 days after the licensee’s previous association was terminated.
(d) For failure to apply and pay the fee for renewal before the license expired.
(e) If inactivated upon the placing of the broker under whose supervision the licensee worked in an inactive status.
(f) As a result of a formal disciplinary proceeding.
2. Any licensee whose license has been placed on inactive status may not engage in the business of a real estate broker, broker-salesperson or salesperson until the licensee has met all of the requirements for reinstatement of his or her license to active status.