Authorizes the business of a mortgage company to be conducted from a remote location under certain circumst...
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AB 284 — Authorizes the business of a mortgage company to be conducted from a remote location under certain circumstances. (BDR 54-941)
Last action — (Pursuant to Joint Standing Rule No. 14.3.4, no further action allowed.)
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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3Passed Assembly
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4Passed Senate
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5To Executive
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6Enacted
This bill died with 2023 Regular Session. It reached “Passed Assembly” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Bill Text
What changed in the latest version
109 added · 98 removed109 line(s) added, 98 removed.
(Reprinted with amendments adopted on May 22, 2023) FIRST REPRINT A.B.
- *AB284**AB284_R1* – 2 – Additionally, section 1 prohibits:
Finally, section 1 requiresrequires: the Commissioner of a mortgage company at a remote location that include, without limitation,iness of requirements for the keeping and maintenance of records for mortgage transactions made by an employee at a remote location.
Existing(1) law requires each mortgage company to keep and maintain at each location where the mortgage company conducts business in this State records of all 645B.080) Section 2 of this bill exempts a remote location from that requirement and instead requires a mortgage company to keepprincipal andoffice maintainor records of all mortgage transactions made by an employee at a remotebranch locationoffice; in accordance with the requirements established by the Commissioner by regulation pursuant to section 1.
THEand PEOPLE(2) OFthe THECommissioner STATEof OFMortgage NEVADA,Lendingts REPRESENTEDto INadopt SENATEregulations ANDgoverning ASSEMBLY,the DOconducting ENACTof ASthe FOLLOWS:business of a mortgage company at a remote location that include, without limitation, requirements for the keeping and maintenance of records for mortgage transactions made by an employee at a remote location.
location where the mortgage company conducts business in this State records of all mortgage transactions made by the mortgage company at that location.
(NRS 645B.080) Section 2 of this bill exempts a remote location from that requirement and instead requires a mortgage company to keep and maintain records of all mortgage transactions made by an employee at a remote location in accordance section 1.equirements established by the Commissioner by regulation pursuant to THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
(b) Has adopted a comprehensive written plan for the security of the information systems of the mortgage company and any customer information collected and maintained by the mortgage company;company, which must contain specific provisions regarding cybersecurity and the use of a virtual private network or other secure connection at the remote location that requires:
and(1) (c)Multifactor Ensuresauthentication; that the information systems of the mortgage company and any customer information collected and maintained by the mortgage company are accessed by employees working at a remote location only in accordance with the security plan adopted pursuant to paragraph (b).
(2) A backup system and data recovery system;
and (3) Protocols in the event of a cybersecurity incident;
and - *AB284_R1* – 3 – (c) Ensures that the information systems of the mortgage company and any customer information collected and maintained by the mortgage company are accessed by employees working at a remote location only in accordance with the security plan adopted pursuant to paragraph (b).
An employee of a mortgage company shall not interact with a customer of the mortgage company in person at the - *AB284* – 3 – residence of the employee unless a license has been issued for that residence pursuant to NRS 645B.020.
Any underlying origination records obtained through the conduct of the business of a mortgage company at a remote location must be maintained at the principal office or a branch office of the mortgage company.
Each mortgage company - *AB284_R1* – 4 – shall also keep and maintain at all times at each such location all original books, papers and data, or copies thereof, clearly reflecting the financial condition of the business of the mortgage company.
Except as otherwise provided in subsection 3, each mortgage company shall submit to the Commissioner each month a report of - *AB284* – 4 – the mortgage company’s activity for the previous month.
The Commissioner may waive the requirement to submit a report pursuant to subsection 2 if substantially similar information is ava4.available to the Commissioner from another source.
4.
H - *AB284**AB284_R1*
View plain text versions (2)
- Reprint 1 View text Current pdf
- Introduced As Introduced pdf
AI-generated reading aid from the bill's amendatory text — verify against the official bill.
The bill authorizes employees of mortgage companies to conduct business from remote locations under specified conditions.
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Chapter 645B of NRS
1. An employee of a mortgage company may conduct the business of the mortgage company at a remote location if authorized by the mortgage company.
Employees can now conduct business from remote locations if authorized.
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Chapter 645B of NRS
2. A mortgage company may authorize an employee to conduct the business of the mortgage company at a remote location if the mortgage company: (a) Has adopted written policies and procedures for the supervision of employees working at a remote location...
Mortgages companies must establish policies for supervision of remote employees.
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Chapter 645B of NRS
3. An employee of a mortgage company shall not interact with a customer of the mortgage company in person at the residence of the employee unless a license has been issued for that residence pursuant to NRS 645B.020.
Employees are prohibited from in-person interactions at their residence unless licensed.
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Chapter 645B of NRS
4. Any physical records of a mortgage company must not be maintained at a remote location.
Physical records cannot be stored at remote locations.
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NRS 645B.080
at all times at each location , other than a remote location, where the mortgage company conducts business in this state→ at all times at each location where the mortgage company conducts business in this stateClarifies that records must be maintained at each business location except remote locations.
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NRS 645B.080
at a remote location in accordance with the requirements established by the Commissioner by regulation pursuant to section 1 of this act.→ at a remote location in accordance with the requirements established by the Commissioner by regulation pursuant to section 1 of this act.Requires maintenance of records for transactions conducted at remote locations per regulations.
Amendments
1 amendmentClick Show changes on an amendment above to see how it modifies the bill.
Action History
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(Pursuant to Joint Standing Rule No. 14.3.4, no further action allowed.)
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Taken from General File for next legislative day. Placed on Secretary's desk.
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Taken from General File. Placed on General File for next legislative day.
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Taken from General File. Placed on General File for next legislative day.
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From printer. To engrossment. Engrossed. First reprint. Taken from General File. Placed on General File for next legislative day.
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From committee: Amend, and do pass as amended. Placed on Second Reading File. Read second time. Amended. (Amend. No. 571.) To printer.
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In Senate. Read first time. Referred to Committee on Commerce and Labor. To committee.
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Read third time. Passed. Title approved. (Yeas: 42, Nays: None.) To Senate.
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Read second time.
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From committee: Do pass.
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From printer. To committee.
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Read first time. Referred to Committee on Commerce and Labor. To printer.
Sponsors
- Heidi Kasama · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 66 not signed on
Sponsors (1)
- Kasama, Heidi Republican
Co-sponsors (0)
None.
Not signed on (66)
66 members have not signed on to this bill.
Show all 66 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- Who sponsors AB 284?
- AB 284 is sponsored by Kasama, Heidi (Republican).
- What is the current status of AB 284?
- This bill died with 2023 Regular Session. It reached “Passed Assembly” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track AB 284?
- Track AB 284 free on One Click Politics — get push/email alerts when it moves.
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