Nevada Revised Statutes 692A.113 – Notification of change of name or location of business; reissuance of license to escrow officer who transfers association; penalties
1. A title agent or title insurer shall notify the Division in writing within 10 days after any change in the name or the location of the business of the agent or insurer or any change of association by the holder of a license as an escrow officer. Upon the surrender of the existing license and payment of the required fee, the Division shall issue a new license to the agent or insurer for the unexpired term of the license.
Terms Used In Nevada Revised Statutes 692A.113
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
2. An escrow officer who transfers his or her association must apply to the Division for the reissuance of his or her license. The Division shall reissue the license for the unexpired term upon application and payment of the required fee if:
(a) The transfer is into an association with a licensed title agent or title insurer; and
(b) The agent or insurer certifies that the escrow officer is employed or will be employed by the agent or insurer.
3. Failure to give notice as required by this section constitutes cause for the imposition of a fine not to exceed $500 against the licensee or the suspension or revocation of his or her license.