Nevada Revised Statutes 645F.160 – Commissioner: Prohibition on having interest in regulated entity or engaging in business as personal loan broker
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The Commissioner shall not, either directly or indirectly, be interested in any mortgage servicer, escrow agency or mortgage company to which this chapter and chapters 645A and 645B of NRS apply, nor engage in business as a personal loan broker.
Terms Used In Nevada Revised Statutes 645F.160
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage: includes a deed of trust. See Nevada Revised Statutes 0.037