Nevada Revised Statutes 645A.034 – Delivery and possession of license of escrow agent; display of licenses
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1. The license of each escrow agent must be delivered or mailed to the escrow agency with whom the licensee is associated and kept in the custody and control of the escrow agency.
Terms Used In Nevada Revised Statutes 645A.034
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Escrow: means any transaction wherein one person, for the purpose of effecting or closing the sale, purchase, exchange, transfer, encumbering or leasing of real or personal property to another person or persons, delivers any written instrument, money, evidence of title to real or personal property, or other thing of value to a third person to be held by such third person until the happening of a specified event or the performance of a prescribed condition, when it is then to be delivered by such third person, in compliance with instructions under which he or she is to act, to a grantee, grantor, promisee, promisor, obligee, obligor, lessee, lessor, bailee, bailor or any agent or employee thereof. See Nevada Revised Statutes 645A.010
- Escrow agency: means :
(a) Any person who employs one or more escrow agents; or
(b) An escrow agent who administers escrows on his or her own behalf. See Nevada Revised Statutes 645A.010
- Escrow agent: means any natural person employed by and associated with an escrow agency engaged in the business of administering escrows for compensation. See Nevada Revised Statutes 645A.010
2. The license of each escrow agency and of each escrow agent associated with that agency must be displayed conspicuously in the agency’s place of business. If an escrow agency maintains more than one place of business within the State, an additional license must be issued to each branch office so maintained, and the additional license must be displayed conspicuously in each branch office.