Section 489.426 - Advance fees: Persons authorized to accept; accounting of use; regulations; disciplinary action1. A person who charges or collects an advance fee shall, within 3 months after charging or collecting such a fee, furnish to his or her principal an accounting of the use of the money. The Administrator also may require an accounting by the person of the use of the money.2. A person shall not accept an advance fee listing unless the person is a dealer, responsible managing employee or salesperson who is licensed pursuant to this chapter.3. The Administrator may adopt regulations concerning advance fee listings and the charging and collecting of an advance fee, including, but not limited to: (a) Forms to be used for advance fee agreements; and(b) Reports and forms of accounting required to be kept, made or submitted to the Division.4. A violation of this section or the regulations adopted pursuant to this section constitutes grounds for disciplinary action against a licensee.5. As used in this section: (a) "Advance fee" means the money contracted for, charged, claimed, collected, demanded or received for an advance fee listing of, an advertisement for or an offer to sell a manufactured home, mobile home or commercial coach, if the advance fee listing, advertisement or offer is issued to promote the sale of a manufactured home, mobile home or commercial coach or for referral to a business, to dealers or to salespersons, before the last printing or other last issuance thereof, other than by a newspaper of general circulation.(b) "Advance fee listing" includes, but is not limited to:(1) The name or a list of the names of owners, prospective buyers or exchangers, or the location of a manufactured home, mobile home or commercial coach that is offered for sale or exchange.(2) The location at which prospective or potential buyers or exchangers of manufactured homes, mobile homes or commercial coaches may be communicated with or found.(3) An agreement by which a person who is engaged in the business of promoting the sale of manufactured homes, mobile homes or commercial coaches agrees to render to an owner or buyer any service to promote the sale of the manufactured home, mobile home or commercial coach for an advance fee.(4) An agreement by which a person agrees to locate or to promote the sale of a manufactured home, mobile home or commercial coach for an advance fee. The term does not include any publication issued for general circulation.
Added to NRS by 1991, 1325Added to NRS by 1991, 1325