NAC645.657. Payment of deposits.

Latest version.

A licensee who receives a deposit on any transaction in which he or she is engaged on behalf of a broker or owner-developer shall pay over the deposit to that broker or owner-developer, or to the escrow business or company designated in the contract, within 1 business day after receiving a fully executed contract.

(Added to NAC by Real Estate Comm’n, eff. 8-21-81; A 12-16-82; R031-04, 11-30-2004; R123-06, 6-1-2006)

                    
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