and (2) [authorizes] requires the Real Estate Commission to establish by regulation the conditions and limitations under which a liceExistinglicensee law[to] setsmay forthadvertise certainunder educational requirements which must be satisfied by an applicant for licensure as a realnickname estate. salesperson, real estate broker or real estate broker-salesperson.

[which is set forth on his or her license.] Existing law sets forth certain educational requirements which must be satisfied by an applicant for licensure as a real estate salesperson, real estate broker or real estate broker-salesperson.

(1) establishes a minimum numberSenate ofAmendment totalNo. hours of instruction which must be included in a course of instruction for licensure as a real estate salesperson;

and521 (2) requires an applicant for licensure as a real estate salesperson, real estate broker or real estate broker- salesperson to completeSenate aBill minimumNo. number of hours of instruction on agency and the preparation of contracts for real estate transactions.

Under230 sectionPage 6.54 number of thistotal licensurehours toof theinstruction Realwhich Estatemust Divisionbe onincluded orin aftera Januarycourse 1,of 2020.licationinstruction forreal Existingestate lawsalesperson, requires a real estate broker or owner-developerreal toestate prominentlybroker-salesperson displayto incomplete hisaa orminimum hernumber place of businesshours the licenses of allinstruction realon estateagency broker- salespersons and real estate salespersons who are associated with the brokerpreparation orof employedcontracts byfor thereal owner-developer,estate astransactions. applicable.

(NRSUnder 645.530)section Section6.5 4 of this billbill, eliminatesthese thatrequirements requirementapply andonly instead requires the licenses to be kept in a secureperson mannerwho and,submits uponan request,application made available for inspectionlicensure byto the public and the Existing law authorizes the Real Estate CommissionDivision toon establishor by regulation a postlicensing curriculum of continuing education which must be completed by a person within the first year immediately after initialJuly licensing1, of2019. the person.

(NRSExisting 645.575)law Section 5 of this bill requires the Commission to adopt regulations which require a minimumreal ofestate 36broker hoursor ofowner-developer continuingto education,prominently setdisplay forth certain subject matter in continuinghis educationor whichher mustplace beof completedbusiness bythe certainlicenses licensees and provide for an exemption from such subject matter requirements for a person who is 65 years of ageall or older and who has been licensed in good standing as a real - 80th Session (2019) – 2 – estate broker,broker-salespersons and real estate broker-salespersonsalespersons orwho realare estateassociated salespersonwith inthe thisbroker Stateor foremployed 30by yearsthe orowner-developer, more.as applicable.

EXPLANATION(NRS –645.530) MatterSection 4 of this bill eliminates that requirement and instead requires the licenses to be kept in boldeda italicssecure ismanner new;and, upon request, made available for inspExisting law authorizes the Real Estate Commission to establish by regulation a postlicensing curriculum of continuing education which must be completed by a person within the first year immediately after initial licensing of the person.

matter(NRS between645.575) bracketsSection [omitted5 material]of isthis materialbill: to be omitted.

(1) requires the Commission to adopt regulations which require a minimum of 36 hours of continuing education, set forth certain subject matter in continuing education which must be completed by certain licensees and provide for an exemption from such subject matter requirements for a person who is 70 years of age or older and who has been licensed in good standing as a real estate broker, real estate broker-salesperson or real estate salesperson in this State for 30 years or more;

[and] (2) [authorizes] requires the postlicensing curriculum than the first year immediately after initial licensing;

(3) requires the regulationsther adopted by the Commission to [adopt regulations which require a person to complete] establish the postlicensing curriculum [before the person may list or write a contract for the sale of a parcel of real estate.] to set forth the period within which each module of the postlicensing curriculum is required to be completed;

and (4) authorizes the Commission to establish a different period within which each module of the postlicensing curriculum is required to be completed and authorizes such a period to be less than 1 year.

If a licensee is a real estate broker-salesperson or real estate salesperson, the licensee shall not advertise solely under the salespersonlicensee’s own name when acting in the capacity as a broker-salesperson or salesperson.

[Except as otherwise provided in this section,] The Commission shall by regulation establish the conditions and limitations under which a licensee may advertise under a nickname.nickname .

Secs.[which is set forth on his or her license.] Sec.

2-3.2.

(Deleted[NRS by645.350 amendment.)is Sec.hereby amended to read as follows:

645.350 1.

An application for a license as a real estate broker, broker- salesperson or salesperson must be submitted in writing to the Division upon blanks prepared or furnished by the Division.

Senate Amendment No.

521 to Senate Bill No.

230 Page 5 2.

Every application for a real estate broker’s, broker-salesperson’s or salesperson’s license must set forth the following information:

(a) The name, age and address of the applicant.

If the applicant is a natural person who intends to use his or her nickname in the course of business, the application must contain that nickname.

If the applicant is a partnership or an association which is applying to do business as a real estate broker, the application must contain the name and address of each member thereof.

If the application is for a corporation which is applying to do business as a real estate salesperson, real estate broker-salesperson or real estate broker, the application must contain the name and address of each officer and director thereof.

If the applicant is a limited- liability company which is applying to do business as a real estate broker, the company’s articles of organization must designate a manager, and the name and address of the manager and each member must be listed in the application.

(b) In the case of a broker, the name under which the business is to be conducted.

The name is a fictitious name if it does not contain the name of the applicant or the names of the members of the applicant’s company, firm, partnership or association.

Except as otherwise provided in NRS 645.387, a license must not be issued under a fictitious name which includes the name of a real estate salesperson or broker-salesperson.

A license must not be issued under the same fictitious name to more than one licensee within the State.

All licensees doing business under a fictitious name shall comply with other pertinent statutory regulations regarding the use of fictitious names.

(c) In the case of a broker, the place or places, including the street number, city and county, where the business is to be conducted.

(d) The business or occupation engaged in by the applicant for at least 2 years immediately preceding the date of the application, and the location thereof.

(e) The time and place of the applicant’s previous experience in the real estate business as a broker or salesperson.

(f) Whether the applicant has ever been convicted of or is under indictment for a felony or has entered a plea of guilty, guilty but mentally ill or nolo contendere to a charge of felony and, if so, the nature of the felony.

(g) Whether the applicant has been convicted of or entered a plea of nolo contendere to forgery, embezzlement, obtaining money under false pretenses, larceny, extortion, conspiracy to defraud, engaging in the business of selling real estate without a license or any crime involving moral turpitude.

(h) Whether the applicant has been refused a real estate broker’s, broker- salesperson’s or salesperson’s license in any state, or whether his or her license as a broker or salesperson has been revoked or suspended by any other state, district or territory of the United States or any other country.

(i) If the applicant is a member of a limited-liability company, partnership or association, or an officer of a corporation, the name and address of the office of the limited-liability company, partnership, association or corporation of which the applicant is a member or officer.

(j) All information required to complete the application.

3.

An applicant for a license as a broker-salesperson or salesperson shall provide a verified statement from the broker with whom the applicant will be associated, expressing the intent of that broker to associate the applicant with the broker and to be responsible for the applicant’s activities as a licensee.

4.

If a limited-liability company, partnership or association is to do business as a real estate broker, the application for a broker’s license must be verified by at least two members thereof.

If a corporation is to do business as a real estate broker, the application must be verified by the president and the secretary thereof.] (Deleted by amendment.) Senate Amendment No.

521 to Senate Bill No.

230 Page 6 Sec.

3.

[NRS 645.520 is hereby amended to read as follows:

645.520 1.

The Division shall issue to each licensee a license in such form and size as is prescribed by the Division.

2.

Each license must:

(a) Show the name and address of the licensee [,] and [in] , if provided in his or her application for the license pursuant to NRS 645.350, the nickname of the licensee.

(b) In the case of a real estate broker-salesperson’s or salesperson’s license , show the name of the real estate broker with whom he or she will be associated.

[(b)] (c) Have imprinted thereon the seal of the Division.

[(c)] (d) Contain any additional matter prescribed by the Division.

3.

No real estate broker-salesperson or salesperson may be associated with or employed by more than one broker or owner-developer at the same time.] (Deleted by amendment.) Sec.

- 80th Session (2019) – 3 – (b) Not less than 15 hours of instruction in the preparation of contracts in real estate transactions to the extent allowed in the capacity of a licensee;

An applicant for an original real estate broker’s or broker-broker-salesperson’s salesperson’s license must furnish proof satisfactory to the Real Estate Division that the applicant has successfully completed :

[45 semester units or the equivalent in quarter units of college level courses which include:] (a) Three semester units or an equivalent number of quarter units in real estate law, including at least 18 classroom hours of the real estate law of Nevada [and another course of equal length] ;

On and after January 1, 1986, in addition to other requirements contained in this chapter, an applicant for an original proofreal satisfactoryestate tobroker’s theor Realbroker- Estatesalesperson’s Divisionlicense thatmust thefurnish applicantproof hassatisfactory completedto 64 semester units or the equivalentReal inEstate quarterDivision unitsthat ofSenate collegeAmendment levelNo. courses.

521 to Senate Bill No.

230 Page 7 the applicant has completed 64 semester units or the equivalent in quarter units of college level courses.

For the purposes of this section, each person who holds a license as a real estate broker, broker-salesperson or salesperson, or an equivalent license, issued by a state or territory of the United States, or the District of Columbia, is entitled to receive credit for the equivalent of 16 semester units of college level courses for each 2 years of active experience that, during the immediately preceding 10 years, the person has obtained while he or she has held such a license, not to exceed 8 years of active experience.

This credit may not be applied against the requirement in subsection 2 for three - 80th Session (2019) – 4 – semester units or an equivalent number of quarter units in broker management or 18 classroom hours of the real estate law of Nevada.

The Commission may adopt regulations setting forth standards of education which are equivalent to the college level courses outlined in this subsection.

(b) [Prominently display] Maintain in his or her place of business the licenses of all real estate broker-salespersons and salespersons associated with him or her therein or in connection therewith.

Each owner-developer shall [prominently display] maintain in his or her place of business the license of each real estate broker-broker-salesperson salesperson and salesperson employed by him or her.

- 80th Session (2019) – 5 – 2.

The standards must include, where qualified, generally accredited educational institutions, private vocational schools, educational programs and organizedseminars educationalof programsprofessional onsocieties technicaland subjects,organizations, orother equivalentorganized offerings.educational Senate Amendment No.

521 to Senate Bill No.

230 Page 8 programs on technical subjects, or equivalent offerings.

Standards which are adopted pursuant to this section must authorize a person who is 6570 years of age or older [and has been licensed as a real estate broker, real estate broker-salesperson or real estate salesperson for 30 years or longer] to apply to the Division for an exemption from any requirement to complete continuing education other than the mandatory subject matter which is set forth in regulations adopted pursuant to this paragraph [.] if the person has been licensed in good standing as a real estate broker, real estate broker-salesperson or real estate salesperson in this State for 30 years or longer at the time of his or her application for an exemption.

[(a)] (1) Establish a postlicensing curriculum of continuing education which must be completed by a person within the first year immediately after the initial licensing[licensing of the person.

[(b)](b)] (2) Require a person whose license asperiod. a real estate broker or real estate broker-salesperson has been placed on inactive status for any reason for 1 year or more or has been suspended or revoked to complete a course of instruction in broker management that is designed to fulfill the educational requirements for issuance of a - 80th Session (2019) – 6 – license which are described in paragraph [(d)] (e) of subsection 2 of NRS 645.343, before the person’s license is reissued or reinstated.

The regulations adopted pursuant to this paragraph must set forth the period within which the person must complete each module of the postlicensing curriculum and may establish different periods within which each module of the postlicensing curriculum must be completed including, without limitation, a period of less than 1 year.

(2) [Require a person to complete the postlicensing curriculum of continuing education established by the Commission pursuant to subparagraph (1) before the person may list or write a contract for the sale of a parcel of real estate.

The person may engage in any other activity which is authorized by his or her license and this chapter and the regulations adopted pursuant thereto.

(3)] Require a person whose license as a real estate broker or real estate broker-salesperson has been placed on inactive status for any reason for 1 year or more or has been suspended or revoked to complete a course of instruction in broker management that is designed to fulfill the educational requirements for issuance of a license which are described in paragraph [(d)] (e) of subsection 2 of NRS 645.343, before the person’s license is reissued or reinstated.

(Deleted[1. by amendment.) Sec.

Any person who is initially licensed by the Real Estate Division of the Department of Business and Industry pursuant to chapter 645 of NRS before July 1, 2019, is exempt from regulations adopted by the Commission pursuant to paragraph (b) of subsection 3 of section 5 of this act.

Senate Amendment No.

521 to Senate Bill No.

230 Page 9 2.

The Real Estate Commission may exempt any person who is initially licensed by the Real Estate Division of the Department of Business and Industry pursuant to chapter 645 of NRS on or after July 1, 2019, and before the effective date of regulations adopted by the Commission pursuant to paragraph (b) of subsection 3 of section 5 of this act from the applicability of those regulations.] (Deleted by amendment.) Sec.

The amendatory provisions of section 3.5 of this act apply only to an applicant who submits an application for licensure to the Real Estate Division of the Department of Business and Industry on or after JanuaryJuly 1, 2020.2019.

1.This act becomes effective on July 1, 2019.

This section becomes effective upon passage and approval.

2.

Section 3.5 of this act becomes effective:

any preparatory administrative tasks and adopting any regulations necessary to carry out the provisions of this act;

and (b) On January 1, 2020, for all other purposes.

3.

Sections 1, 4, 5 and 6.5 of this act become effective on July 1, 2019.

~~~~~ 19 - 80th Session (2019)