Section 645F.205 - Application for license; waiver of investigation; application for branch offices; license for office outside State which conducts business in State; requirements for issuance of license1. A person who desires to be licensed as a covered service provider, foreclosure consultant or loan modification consultant must file a written application for a license with the Commissioner and pay a nonrefundable application fee as set forth in NAC 645F.315. An application for a license as a covered service provider, foreclosure consultant or loan modification consultant must: (a) State the name and business address of the applicant and the location of the principal office and each branch office, if any, at which the applicant will conduct business, including, without limitation, any office or other place of business located outside this State from which the applicant will conduct business in this State.(b) If the applicant is a natural person, state the residence address of the applicant.(c) If the applicant will be conducting business using a fictitious name, state the fictitious name under which the applicant will conduct business.(d) If the applicant is not a natural person, list the name, residence address and business address of: (1) Each person who will have an interest in the applicant as an owner, principal, partner, officer, director or trustee, specifying the capacity and title of each such person; and(2) Each person whom the applicant proposes to be a qualified employee for the applicant.(e) If the applicant will be an independent licensee, list the name, residence address and business address of each associated licensee, if any, who will be employed by or otherwise associated with the applicant.(f) If the applicant will be an associated licensee, include a verified statement from the independent licensee with whom the applicant will be associated that expresses the intent of the independent licensee to associate the applicant with the independent licensee and to be responsible for the activities of the applicant as a covered service provider, foreclosure consultant or loan modification consultant.(g) Include a signed and notarized personal history form, provided by the Commissioner, from the applicant or, if the applicant is not a natural person, each natural person holding an ownership interest of 25 percent or more in the applicant and each natural person who has the power to direct the management of the applicant.(h) Include a written consent giving the Commissioner authority to conduct an investigation of the credit history, criminal history and background of: (1) If the applicant is a natural person, the applicant. The written consent must be signed by the applicant.(2) If the applicant is not a natural person, any natural person holding an ownership interest of 25 percent or more in the applicant or who has the power to direct the management of the applicant. The written consent must be signed by each such person.(i) Include a complete set of fingerprints of the applicant or, if the applicant is not a natural person, any natural person holding an ownership interest in the applicant. The Commissioner may forward these fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report.(j) If the applicant will be an independent licensee, indicate the general plan and character of the applicant's business and describe the policies and procedures that the applicant and any associated licensees who will be employed by or otherwise associated with the applicant will follow in providing services and conducting activities pursuant to the Nevada Covered Service Provider Regulations and NRS 645F.300 to 645F.450, inclusive.(k) State the length of time the applicant has been engaged in the business of a covered service provider, foreclosure consultant or loan modification consultant.(l) If the applicant will be an independent licensee, include a financial statement of the applicant.(m) Include any other information required by the Commissioner, including, but not limited to, information concerning the education, training and experience of any applicable person.(n) Include the applicable fee set forth in NAC 645F.315.2. If the applicant is a natural person who will be an associated licensee, the Commissioner may waive the requirement of an investigation of the credit history, criminal history and background of the applicant if such an investigation has been conducted within 6 months immediately preceding the date on which the application is submitted.3. If an applicant will conduct business at one or more branch offices, the applicant must apply for a license for each such branch office on forms prescribed by the Commissioner and pay the applicable fee set forth in NAC 645F.315. An application for a branch license shall be deemed abandoned if the applicant fails to respond to any written request by the Commissioner for information concerning the application within 30 days after the date of the request.4. An applicant for a license may apply for a license for an office or other place of business located outside this State from which the applicant will conduct business in this State if the applicant agrees to:(a) Make available at a location within this State the books, accounts, papers, records and files of the office or place of business located outside this State to the Commissioner or a representative of the Commissioner; or(b) Pay the reasonable expenses for travel, meals and lodging of the Commissioner or a representative of the Commissioner incurred during any investigation or examination made at the office or place of business located outside this State. The applicant must be allowed to choose between paragraph (a) or (b) in complying with the provisions of this subsection.
5. Except as otherwise provided in the Nevada Covered Service Provider Regulations or chapter 645F of NRS, the Commissioner will issue a license to an applicant if: (a) The application and information submitted by the applicant in support of the application is verified by the Commissioner;(b) The application and information submitted by the applicant in support of the application complies with the applicable requirements of the Nevada Covered Service Provider Regulations and chapter 645F of NRS; and(c) Each person identified in paragraph (h) of subsection 1 and, if the applicant is a partnership, corporation or unincorporated association, each general partner, officer or director of the applicant:(1) Has a good reputation for honesty, trustworthiness and integrity and displays competence to transact the business of a covered service provider, foreclosure consultant or loan modification consultant in a manner which safeguards the interests of the general public. The applicant must submit satisfactory proof of these qualifications to the Commissioner.(2) Has not been convicted of, or entered a plea of guilty or nolo contendere to, a felony related to the practice of a covered service provider, foreclosure consultant or loan modification consultant or any crime involving fraud, misrepresentation or moral turpitude.(3) Has not made a false statement of material fact on the application.(4) Has not had a professional license or a financial services license or registration that was issued in this State or any other state, the United States, any district or territory of the United States or any foreign country suspended or revoked within the 10 years immediately preceding the date of the application.(5) Has not violated any provision of the Nevada Covered Service Provider Regulations or NRS 645F.300 to 645F.450, inclusive, or any order of the Commissioner.Nev. Admin. Code § 645F.205
; A by R120-15, effective upon the later of 1/1/2016 or the date this regulation is filed with the Secretary of State.Added to NAC by Comm'r of Mortgage Lending by R052-09, eff. 8-25-2009