SB 282 — Revises provisions relating to real estate. (BDR 54-841)

NRS 645.842 is hereby amended to read as follows:

645.842 1.

The Real Estate Education, Research and Recovery Fund is hereby created as a special revenue fund.

2.

A balance of not less than [$300,000] $100,000 must be maintained in the Fund, to be used for satisfying claims against persons licensed under this chapter, as provided in NRS 645.841 to 645.8494, inclusive.

[Any balance over $300,000 remaining] 3.

At the end of each fiscal year, the Administrator shall transfer any amount in excess of $100,000 in the Fund [at the end of any fiscal year must be set aside and used:

(a) By the Administrator, after approval of the Commission, for real estate education and research;

or (b) For any other purpose authorized by the Legislature.

3.] to the Account for Real Estate Administration created by section 1 of this act.

4.

The interest and income earned on the money in the Fund, after deducting any applicable charges, must be credited to the Fund.

The money in the Fund does not revert to the State General Fund at the end of any fiscal year and must be carried forward to the next fiscal year.

Sec.

5.

Except as otherwise provided in [subsections 2 and 3,] subsection 7,3, all administrative fines, fees, penalties and other charges received by the Commission or Division pursuant to this chapter must be deposited with the State Treasurer for credit to the [State General Fund.] Account for theReal Estate Administration created by section 1 of -this *SB282*act –and 6accounted –for Chapterseparately 645Cto ofprovide NRS,the whichmoney isauthorized herebyfor createdexpenditure inby the StateDivision Generalto Fund.carry out the provisions of this chapter.

The Administrator shall administer the Account.

 Any surplus of the fees retained by the Division for the administration of examinations must be deposited with the State Treasurer for credit to the State General Fund.]Fund. The interest and income earned on money in the Account, after deducting any applicable charges, must be credited to the Account.

Any3.] moneyThe remainingportion inof the Accountfees atcollected by the endDivision pursuant to NRS 645C.450 and 645C.680 for the issuance or renewal of a certificate or license as a residential appraiser, the fiscalissuance yearor doesrenewal notof reverta tocertificate as a general appraiser or the Stateissuance Generalor Fund,- and*SB282_R1* – 7 – renewal of a registration as an appraisal management company which is used for payment of the balanceannual inregistry fee to the AccountFederal mustFinancial beInstitutions carriedExamination forwardCouncil toor the nextAppraisal fiscalSubcommittee year.pursuant to 12 U.S.C.

3.

Except as otherwise provided in subsections 4 and 5, the money in the Account must be used to defray the costs and expenses incurred by the Division in carrying out the provisions of this chapter.

4.

The portion of the fees collected by the Division pursuant to NRS 645C.450 and 645C.680 for the issuance or renewal of a certificate or license as a residential appraiser, the issuance or renewal of a certificate as a general appraiser or the issuance or renewal of a registration as an appraisal management company which is used for payment of the annual registry fee to the Federal Financial Institutions Examination Council or the Appraisal Subcommittee pursuant to 12 U.S.C.

Money]Money 5.for the support of the Division in carrying out the provisions of this chapter must be provided by direct legislative appropriation and be paid out on claims as other claims against the State are paid.] 3.

AllThe moneyCommission collected from the technology fee imposed pursuant to NRS 645C.450 and 645C.680Division mustshall bedeposit accountedany formoney separatelycollected infrom the [supportimposition of]of Accountany andadministrative usedfine only to acquire technology for or improvepenalty thepursuant technology used by the Division [in carrying out] to administer the provisions of this chapter [mustwith be provided by direct legislative appropriation] , including, without limitation, costs related to acquiring or improving technology, purchasing hardware and software, maintaining the technologyState andTreasurer contracting for professionalcredit services related to the technology.State General Fund.

6.

All claims against the Account must be paid [out on claims] as other claims against the State are paid.

7.

The Commission and Division shall deposit any money collected from the imposition of any administrative fine or penalty pursuant to this chapter with the State Treasurer for credit to the - *SB282* – 7 – State General Fund.

Application for a certificate, license or registration card..............................................................................$100 Issuance or renewal of a certificate or license as a residential appraiser ......................................................320 Issuance or renewal of a certificate as a general appraiser........................................................................420 Issuance of a permit............................................................115 Issuance or renewal of a registration card..........................190 Issuance of a duplicate certificate or license for an additional office ..............................................................50 - *SB282_R1* – 8 – Change in the name or location of a business ......................20....................$20 Reinstatement of an inactive certificate or license...............30 Annual approval of a course of instruction offered in preparation for an initial certificate or license ..........100 Original approval of a course of instruction offered for continuing education................................................100 Renewal of approval of a course of instruction offered for continuing education.....................................50 2.

- *SB282* – 8 – 3.

The fee required by this subsection must be collected from an appraisal management company only if, during the applicable year, the appraisal management company oversees a network or panel of more than 15 - *SB282_R1* – 9 – certified or licensed appraisers in this State or 25 or more certified or licensed appraisers nationally.

[All] Except as otherwise provided in subsection 6,2, all administrative fines, fees, penalties and other charges received by the Real Estate Commission or the Division pursuant to this chapter must be deposited with the State Treasurer for credit to the [State General Fund.] Account for theReal Estate Administration ofcreated Chapterby 645Dsection 1 of NRS,this whichact isand herebyaccounted createdfor inseparately to provide the Statemoney Generalauthorized Fund.for expenditure by the Division to carry out the provisions of this chapter.

The Administrator shall administer the Account.

[Money for]for Thethe interestsupport andof incomethe earnedDivision onin moneycarrying inout the [supportprovisions of]of Account,this afterchaptermust deductingbe anyprovided applicableby charges,direct -legislative *SB282*appropriation –and 9be –paid mustout beon creditedclaims toas other claims against the Account.State are paid.

Any3.] moneyThe remainingReal inEstate Commission and the AccountDivision atshall thedeposit endany ofmoney thecollected fiscalfrom yearthe doesimposition notof revertany toadministrative thefine Stateor Generalpenalty Fund,pursuant andto thethis balancechapter inwith the AccountState mustTreasurer befor carriedcredit forward to the nextState fiscalGeneral year.Fund.

3.

Except as otherwise provided in subsection 4, the money in the Account must be used to defray the costs and expenses incurred by the Division in carrying out the provisions of this chapter .

4.

All money collected from the technology fee imposed pursuant to NRS 645D.240 must be accounted for separately in the Account and used only to acquire technology for or improve the technology used by the Division to administer the provisions of this chapter, including, without limitation, costs related to acquiring or improving technology, purchasing hardware and software, maintaining the technology and contracting for professional services related to the technology.

5.

All claims against the Account must [be provided by direct legislative appropriation and] be paid [out on claims] as other claims against the State are paid.

[3.] 6.

The Real Estate Commission and the Division shall deposit any money collected from the imposition of any administrative fine or penalty pursuant to this chapter with the State Treasurer for credit to the State General Fund.

For each application for a certificate or license................$100 For the issuance or renewal of a certificate or license............................................................................250 For each penalty for a late renewal of a certificate or license.......................................................................125 For each change of name, address or association.................20 For each duplicate certificate or license where the original is lost or destroyed and an affidavit is made thereof....................................................................20 For each reinstatement to active status of an inactive certificate or license...........................................20 For each annual approval of a course of instruction offered in preparation for an original certificate or license.......................................................................100 - *SB282* – 10 – For each original accreditation of a course of continuing education...................................................$100education.....................................................100 For each renewal of accreditation of a course of continuing education.......................................................50 6- *SB282_R1* – 10 – 2.

[All] Except as otherwise provided in subsection 6,2, all administrative fines, feesfees, , penalties and [administrative fines,] other charges received by the Division pursuant to this chapter must be deposited with the State Treasurer for credit to the [State General Fund.] Account for theReal Estate Administration ofcreated Chapterby 645Hsection 1 of NRS,this whichact isand herebyaccounted createdfor inseparately to provide the Statemoney Generalauthorized Fund.for expenditure by the Division to carry out the provisions of this chapter.

The Administrator shall administer the Account.

[Money for]for Thethe interestsupport of the Division in carrying out the provisions of this chapter must be provided by direct legislative appropriation and incomebe earnedpaid out on moneyclaims inas other claims against the [supportState of]are Account,paid.] afterThe deductingDivision shall deposit any applicablemoney charges,collected mustfrom bethe creditedimposition of any administrative fine or penalty pursuant to this chapter with the Account.State Treasurer for credit to the State General Fund.

Any money remaining in the Account at the end of the fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.

3.

Except as otherwise provided in subsection 4, the money in the Account must be used to defray the costs and expenses incurred by the Division in carrying out the provisions of this chapter .

4.

All money collected from the technology fees imposed pursuant to NRS 645H.530, 645H.540 and 645H.560 must be accounted for separately in the Account and used only to acquire technology for or improve the technology used by the Division to administer the provisions of this chapter, including, without limitation, costs related to acquiring or improving technology, purchasing hardware and software, maintaining the technology and contracting for professional services related to the technology.

5.

All claims against the Account must [be provided by direct legislative appropriation and] be paid [out on claims] as other claims against the State are paid.

- *SB282* – 11 – 6.

The Division shall deposit any money collected from the imposition of any administrative fine or penalty pursuant to this chapter with the State Treasurer for credit to the State General Fund.

- *SB282_R1* – 11 – (I) A completed fingerprint card and written permission authorizing the Division to submit the applicant’s fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for a report on the applicant’s background and to such other law enforcement agencies as the Division deems necessary;

- *SB282* – 12 – (a) Unless the applicant’s fingerprints are forwarded pursuant to sub-subparagraph (II) of subparagraph (2) of paragraph (a) of subsection [2,] 3, submit those fingerprints to the Central Repository for submission to the Federal Bureau of Investigation and to such other law enforcement agencies as the Division deems necessary;

- *SB282_R1* – 12 – Sec.

NRS(Deleted 116.620by isamendment.) herebySec. amended to read as follows:

116.620 1.

Except as otherwise provided in this section and within the limits of [legislative appropriations and any other] money - *SB282* – 13 – available for this purpose, the Division may employ experts, attorneys, investigators, consultants and other personnel as are necessary to carry out the provisions of this chapter.

At least one person employed pursuant to this subsection or NRS 116B.810 must be a certified public accountant certified to practice in this State pursuant to the provisions of chapter 628 of NRS or have training, expertise and experience in performing audits.

2.

The Attorney General shall designate one of his or her deputies to act as the attorney for the Division in all actions and proceedings brought against or by the Division pursuant to the provisions of this chapter.

The deputy attorney general so designated must have legal experience and expertise in cases involving fraud or fiscal malfeasance.

3.

The deputy attorney general designated pursuant to subsection 2 shall:

(a) Render to the Commission and the Division opinions upon all questions of law relating to the construction or interpretation of this chapter, or arising in the administration thereof, that may be submitted to the deputy attorney general by the Commission or the Division.

(b) Assist the Ombudsman in performing his or her duties to assist in the resolution of affidavits filed pursuant to NRS 116.760 and to prepare reports required pursuant to NRS 116.765.

Sec.

NRS(Deleted 116.630by isamendment.) herebySec. amended to read as follows:

116.630 1.

[There is hereby created the Account for Common-Interest Communities and Condominium Hotels in the State General Fund.

The Account must be administered by the Administrator.

2.] Except as otherwise provided in subsection [3,] 5, all [money] administrative fines, fees, penalties and other charges received by the Commission, a hearing panel or the Division pursuant to this chapter , or [chapter] chapters 116A or 116B of NRS, including, without limitation, the fees collected pursuant to NRS 116.31155 and 116B.620, must be deposited [into] with the State Treasurer for credit to the Account [.] for the Administration of Chapters 116, 116A and 116B of NRS, which is hereby created in the State General Fund.

The Administrator shall administer the Account.

2.

The interest and income earned on money in the Account, after deducting any applicable charges, must be credited to the Account.

Any money remaining in the Account at the end of the fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.

- *SB282* – 14 – 3.

[If] The money in the [Commission imposes a fine or penalty,] Account must be used to defray the costs and expenses incurred by the Division in carrying out the provisions of this chapter and chapters 116A and 116B of NRS.

4.

All claims made against the Account must be paid as other claims against the State are paid.

5.

The Commission and the Division shall deposit [the] any money collected from the imposition of [the] any administrative fine or penalty pursuant to this chapter, chapter 116A or 116B of NRS with the State Treasurer for credit to the State General Fund.

[If the money is so deposited, the] The Commission or Division may present a claim to the State Board of Examiners for recommendation to the Interim Finance Committee if money is required to pay attorney’s fees or the costs of an investigation, or both.

[4.

The interest and income earned on the money in the Account, after deducting any applicable charges, must be credited to the Account.

5.

The money in the Account must be used solely to defray:

(a) The costs and expenses of the Commission and the Office of the Ombudsman;

(b) If authorized by the Commission or any regulations adopted by the Commission, the costs and expenses of subsidizing proceedings for mediation, arbitration and a program conducted pursuant to NRS 38.300 to 38.360, inclusive;

and (c) If authorized by the Legislature or by the Interim Finance Committee if the Legislature is not in session, the costs and expenses of administering the Division.] Sec.

NRS(Deleted 116A.210by isamendment.) herebySec. amended to read as follows:

116A.210 1.

Except as otherwise provided in this section and within the limits of [legislative appropriations and any other] money available for this purpose, the Division may employ experts, attorneys, investigators, consultants and other personnel as are necessary to carry out the provisions of this chapter.

2.

The Attorney General shall act as the attorney for the Division in all actions and proceedings brought against or by the Division pursuant to the provisions of this chapter.

3.

The Attorney General shall render to the Commission and the Division opinions upon all questions of law relating to the construction or interpretation of this chapter, or arising in the administration thereof, that may be submitted to the Attorney General by the Commission or the Division.

Sec.

NRS(Deleted 116B.810by isamendment.) herebySec. amended to read as follows:

116B.810 1.

Except as otherwise provided in this section and within the limits of [legislative appropriations and any other] money - *SB282* – 15 – available for this purpose, the Division may employ experts, attorneys, investigators, consultants and other personnel as are necessary to carry out the provisions of this chapter.

At least one person employed pursuant to this subsection or NRS 116.620 must be a certified public accountant certified to practice in this State pursuant to the provisions of chapter 628 of NRS or have training, expertise and experience in performing audits.

2.

The Attorney General shall designate one of his or her deputies to act as the attorney for the Division in all actions and proceedings brought against or by the Division pursuant to the provisions of this chapter.

The deputy attorney general so designated must have legal experience and expertise in cases involving fraud or fiscal malfeasance.

3.

The deputy attorney general designated pursuant to subsection 2 shall:

(a) Render to the Commission and the Division opinions upon all questions of law relating to the construction or interpretation of this chapter, or arising in the administration thereof, that may be submitted to the deputy attorney general by the Commission or the Division.

(b) Assist the Ombudsman in performing his or her duties to assist in the resolution of affidavits filed pursuant to NRS 116B.885 and to prepare reports required pursuant to NRS 116B.890.

Sec.

Except as otherwise provided in [paragraph (b) of] subsection [1 of] 52 and NRS [119.320,] 119.150, all administrative fines, feesfees, , penalties and other charges received by the Division [shall] pursuant to this chapter must be deposited [in] with the State Treasurer for credit to the [General Fund in the State Treasury.

Funds for the support of the Division shall be provided by direct legislative appropriation, and shall]shall be paid out on claims as other claims against the State are paid.] Account for theReal Estate Administration ofcreated Chapterby 119section 1 of NRS,this whichact isand herebyaccounted createdfor inseparately to provide the Statemoney Generalauthorized Fund.for expenditure by the Division to carry out the provisions of this chapter.

The Administrator shall administer the Account.

The interest and income earned on money in the Account, after deducting any applicable charges, must be credited to the Account.

Any money remaining in the Account at the end of the fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.

3.

The money in the Account must be used to defray the costs and expenses incurred by the Division in carrying out the provisions of this chapter.

4.

All claims against the Account must be paid [out on claims] as other claims against the State are paid.

- *SB282* – 16 – 5.

- *SB282_R1* – 13 – Sec.

[(a) For deposit in the State General Fund:] 7 For each annual registered representative’s license to represent a developer.................................................$85 For each transfer of a registered representative’s license to represent a developer ......................................30 For each penalty for a late renewal of a registered representative’s license ...................................................40 For each developer’s permit per subdivision......................500 For each developer’s temporary permit for each subdivision....................................................................275 For each renewal of a developer’s permit ..........................500 For each developer’s partial registration pursuant to NRS 119.121.................................................................275 The $500 fee for a developer’s permit per subdivision does not apply to any subdivision having 34 or fewer lots, parcels, interests or units.

[(b) For deposit for use by the Division in carrying out the provisions of this chapter:] For each application for a developer’s request for an exemption from any provision of this chapter.............$500 For each application for renewal of an exemption from any provision of this chapter ................................500 For each penalty for a late renewal of a developer’s permit............................................................................125 For each amendment to a developer’s permit.....................300 For each penalty for the untimely filing of an amendment to a developer’s permit..............................125 For each filing of a Project Registration Form 649 - Statement of Project Broker............................................25 For each project request for processing within 5 days after a complete filing is made...........................1,000 - *SB282* – 17 – 2.

and $2.50 for all lots, parcels, interests or units in excess of 750 in any one - *SB282_R1* – 14 – subdivision.

Except as otherwise provided in subsection 62 and NRS 119A.350, all administrative fines, fees, penalties and other charges received by the Division pursuant to this chapter must be deposited with the State Treasurer for credit to the Account for theReal Estate Administration ofcreated Chapterby 119Asection 1 of NRS,this whichact isand herebyaccounted createdfor inseparately to provide the Statemoney Generalauthorized Fund.for expenditure by the Division to carry out the provisions of this chapter.

The Administrator shall administer the Account.

The interest and income earned on money in the Account, after deducting any applicable charges, must be credited to the Account.

Any money remaining in the Account at the end of the fiscal year does not revert to the State General Fund, and the balance in the Account must be carried forward to the next fiscal year.

3.

Except as otherwise provided in subsection 4, the money in the Account must be used to defray the costs and expenses incurred by the Division in carrying out the provisions of this chapter.

4.

All money collected from the technology fee imposed pursuant to NRS 119A.360 must be accounted for separately in the Account and used only to acquire technology for or improve the technology used by the Division to administer the provisions of - *SB282* – 18 – this chapter, including, without limitation, costs related to acquiring or improving technology, purchasing hardware and software, maintaining the technology and contracting for professional services related to the technology.

5.

All claims against the Account must be paid as other claims against the State are paid.

6.

For each application for the registration of a representative ..............................................................$100 For each renewal of the registration of a representative ................................................................100 For each transfer of the registration of a representative to a different developer............................25 For each penalty for a late renewal of the registration of a representative........................................75 For each preliminary permit to sell time shares .................400 - *SB282_R1* – 15 – For each initial permit to sell time shares........................1,500shares......................$1,500 For each amendment to a statement of record after the issuance of the permit to sell time shares, where no new component sites are added.....................200 For each amendment to a statement of record after the issuance of the permit to sell time shares, where one or more new component sites are added, not including the addition of units to a component site previously permitted ............................500 For each annual renewal of a permit to sell time shares with only one component site.............................750 For each annual renewal of a permit to sell time shares with more than one component site.................1,500 For each initial registration of a time-share resale broker............................................................................300 For each renewal of the registration of a time-share resale broker..................................................................150 For each original and annual registration of a manager.........................................................................100 - *SB282* – 19 – For each application for an original license as a sales agent...................................................................$200agent.....................................................................200 For each renewal of a license as a sales agent....................200 For each penalty for a late renewal of a license as a sales agent.....................................................................100 For each registration of a time share exchange company........................................................................500 For each conversion to an abbreviated registration.........7,500 For each change of name or address of a licensee or status of a license ............................................................25 For each duplicate license, permit or registration where the original is lost or destroyed, and an affidavit is made thereof..................................................25 For each annual approval of a course of instruction offered in preparation for an original license or permit............................................................................150 For each original accreditation of a course of continuing education.....................................................150 For each renewal of accreditation of a course of continuing education.......................................................75 2.

Within 10 days after receipt of written notification from the Administrator of the approval of the application for a permit to sell time shares and before the issuance of the permit to sell time shares, or within 10 days after an amendment that adds time shares to the time-share plan is approved or deemed approved, each developer - *SB282_R1* – 16 – shall, for each time share that the developer includes in the initial time-share plan or adds to the time-share plan by amendment, pay a one-time fee of:

- *SB282* – 20 – 5.

The(Deleted Legislativeby Counselamendment.) shall:Sec.

1.

In preparing the reprint and supplements to the Nevada Revised Statutes, appropriately change any references to an officer, agency or other entity whose name is changed or whose responsibilities are transferred pursuant to the provisions of this act to refer to the appropriate officer, agency or other entity.

Code, appropriately change any references to an officer, agency or other entity whose name is changed or whose responsibilities are transferred pursuant to the provisions of this act to refer to the appropriate officer, agency or other entity.

Sec.

NRS 116A.220, 645C.610 and 645H.360 are hereby repealed.

TEXT OF REPEALED SECTIONS 116A.220645C.610 Deposit of money;money collected;

payment of claims.

received by the Commission, a hearing panel or the Divisionney pursuant to this chapter must be deposited into the Account for Common-Interest Communities and Condominium Hotels created pursuant to NRS 116.630.

2.

If the Commission imposes a fine or penalty, the Commission shall deposit the money collected from the imposition of the fine or penalty with the State Treasurer for credit to the State General Fund.

If the money is so deposited, the Commission may present a claim to the State Board of Examiners for recommendation to the Interim Finance Committee if money is required to pay attorney’s fees or the costs of an investigation, or both.

- *SB282* – 21 – 3.

Money for the support of the Commission and Division in carrying out the provisions of this chapter must be provided by direct legislative appropriation and be paid out on claims as other claims against the State are paid.

645C.610 Deposit of money collected;

If the Commission imposes a fine or a penalty or the Division collects an amount for the registration of an appraisal management company, the Commission or Division, as applicable, shall deposit the amount collected with the State Treasurer for credit to the State General Fund.

The Commission - *SB282_R1* – 17 – may present a claim to the State Board of Examiners for recommendation to the Interim Finance Committee if money is neededboth.d to pay an attorney’s fee or the cost of an investigation, or both.645H.360 Disposition of money collected.

645H.360If Dispositionthe ofDivision moneyimposes collected.an administrative fine or collects a fee for registering an asset management company or issuing or renewing a permit to an asset manager, the Division shall deposit the amount collected with the State Treasurer for credit to the State General Fund.

IfThe the Division imposes an administrative fine or collects a fee for registering an asset management company or issuing or renewing a permit to an asset manager, the Division shall deposit the amount collected with Division may present a claim to the State Board of Examiners for recommendation to the Interim Finance Committee if money isiss for needed to pay an attorney’s fee or the cost of an investigation, or both.

H - *SB282**SB282_R1*