Section 645F.958 - Transfer or assignment of license; change in ownership or control1. A license issued pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations may not be transferred or assigned without the prior written consent and approval of the Commissioner.2. A transfer, sale or conveyance of outstanding voting stock or ownership interest that will result in the cumulative transfer of 25 percent or more of a licensee's outstanding voting stock or ownership interest from the date upon which the original license was issued is deemed to be a change of control. A licensee shall make prior written application to the Commissioner for the approval of a change of control. The application must include: (a) The transfer fee required by section 33 of this regulation.(b) The name and percentage of ownership of each person who has obtained or is obtaining ownership resulting in a cumulative transfer of 25 percent or more of the licensee's outstanding voting stock or ownership interest.(c) A personal interrogatory and a complete set of fingerprints of each person or, if the applicant is not a natural person, each control person of the applicant, in a form prescribed by the Commissioner, and written consent authorizing the Commissioner to conduct an investigation of the person's background in the same manner as provided for in section 20 of this regulation.3. The Commissioner will conduct an investigation of an application submitted pursuant to this section to determine whether the requirements necessary for licensure pursuant to chapter 645F of NRS and the Nevada Mortgage Servicer Regulations are met.4. No change of control of a licensee is effective until approved by the Commissioner. Nev. Admin. Code § 645F.958
Added to NAC by Comm'r of Mortgage Lending by R120-15, effective upon the later of 1/1/2016 or the date this regulation is filed with the Secretary of State.NRS 645F.255 and section 86.4 of Assembly Bill No. 480, chapter 477, Statutes of Nevada 2015, at page 2806