NAC119A.083. Provisional licensee: Restrictions; supervision; commissions.

     1. A provisional licensee shall not:

     (a) Conduct sales-related activities unless he or she is:

          (1) Under the supervision of:

               (I) His or her project broker; or

               (II) A cooperating real estate broker designated by the project broker in accordance with subsection 3 of NAC 119A.100.

          (2) At the principal place of business or a branch office of the project broker, or at the physical location of a time-share development.

     (b) Collect personal information from a prospective purchaser or purchaser of a time share.

     2. A project broker shall not grant to a provisional licensee:

     (a) Access to a time-share lockbox; or

     (b) The ability to enter a private residence or a time-share unit that an unlicensed person otherwise would not have.

     3. A project broker or a cooperating real estate broker designated by the project broker in accordance with subsection 3 of NAC 119A.100 shall:

     (a) Supervise the provisional licensee employed by the project broker; and

     (b) Review and approve in writing any contract prepared by the provisional licensee that relates to the sale of a time share.

     4. A provisional licensee may receive a commission for the sale of a time share in which the provisional licensee is involved.

     5. As used in this section:

     (a) “Personal information” has the meaning ascribed to it in NRS 603A.040.

     (b) “Provisional licensee” means an applicant who receives a provisional sales agent’s license from the Division pursuant to NAC 119A.081.

     (Added to NAC by Real Estate Div. by R153-06, eff. 3-23-2007)