Nevada Revised Statutes 576.030 v2 – Application for license: Contents; additional requirements for agents; appointment of Director as attorney upon whom process may be served. [Effective on the date of the repeal of 42 U.S.C. ‘ 666, the federal law…
1. Every person, before acting as a broker, dealer, commission merchant or agent, shall file an application with the Department for a license to transact such business. Separate applications must be filed for each class of business.
Terms Used In Nevada Revised Statutes 576.030 v2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- county: includes Carson City. See Nevada Revised Statutes 0.033
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- Summons: Another word for subpoena used by the criminal justice system.
2. The application must be on a form prescribed and furnished by the Department and must set forth:
(a) The full name of the person applying for the license. If the applicant is a firm, exchange, association or corporation, the full name of each member of the firm, or the names of the officers of the exchange, association or corporation must be given in the application.
(b) If the applicant is a natural person, the social security number of the applicant.
(c) The principal business address of the applicant in this State and elsewhere.
(d) The name of the person authorized to accept service of summons and legal notice of all kinds for the applicant.
(e) The names and addresses of all persons by whom the applicant has been employed for a period of 3 years immediately preceding the making of the application.
(f) A complete statement of the applicant’s business activity for the 3 years immediately preceding the making of the application which is not covered by paragraph (e).
(g) The county or counties in which the applicant proposes to engage in business.
(h) The class or classes of farm products the applicant proposes to handle.
(i) Such other information as the Department may reasonably require.
3. In addition to the general requirements applicable to all classes of applications as set forth in subsection 2, each application for a license as an agent must be in the same form as an application for a license as a broker, dealer or commission merchant, and must include the name and address of the broker, dealer or commission merchant represented or sought to be represented by the agent, and the written endorsement or nomination of the broker, dealer or commission merchant.
4. The application must be accompanied by an executed instrument whereby the applicant:
(a) Appoints and constitutes the Director and the Director’s successor or successors in office the true and lawful attorney of the applicant upon whom all lawful process in any action or legal proceeding against the applicant arising in this State from a transaction under the provisions of this chapter may be served; and
(b) Agrees that any lawful process against the applicant which may be served upon the applicant’s attorney as provided in this subsection is of the same force and validity as if served upon the applicant and that the authority thereof continues in force irrevocably as long as any liability of the applicant in the State remains outstanding.