NAC645.740. Expiration of registration.

     1. A registration for an owner-developer is effective for 1 year after the date of issuance. An owner-developer may renew his or her registration by paying the required fee and submitting the appropriate form to the Division. There is no limit on the number of annual renewals.

     2. If an owner-developer fails to renew his or her registration, the licenses of all salespersons in his or her employ who have renewed will immediately be placed on inactive status.

     3. If the registration of an owner-developer is cancelled, suspended, or revoked, the owner-developer shall immediately terminate all activities pursuant to his or her registration and shall deliver to the Division all of the licenses of his or her employees.

     [Real Estate Adv. Comm’n, § XVI subsec. 3 pars. j-1, eff. 10-31-75]—(NAC A by Real Estate Comm’n, 8-21-81)