NAC645.750. Limitations on licensees.

     1. A licensee associated with an owner-developer may only sell, lease, rent, or offer and negotiate to sell, lease or rent the registered development for an owner-developer, and may not engage in any other activity listed in NRS 645.030.

     2. A licensee employed by an owner-developer may not be associated with a real estate broker at the same time.

     3. Real estate brokers working for owner-developers must change their status to real estate broker-salespersons.

     4. An employee of an owner-developer is prohibited from erecting, displaying or maintaining any sign or billboard or advertising under his or her own name unless the advertisement is located at the office of his or her employer. The name of the employee may not dominate the owner-developer’s sign in any way.

     5. Except as otherwise provided in subsection 6, the time during which a licensee is employed by an owner-developer does not satisfy the requirement of prior experience set forth in subsection 4 of NRS 645.330.

     6. The Commission may permit an applicant to satisfy the requirement of prior experience set forth in subsection 4 of NRS 645.330 if the applicant has been employed by an owner-developer. The Commission will consider the prior experience of an applicant with an owner-developer at its next regularly scheduled meeting if the applicant:

     (a) Files a petition with the Commission; and

     (b) At the meeting of the Commission, demonstrates that the quality, quantity and variety of experience that the applicant received during his or her employment with an owner-developer was substantially equivalent to the experience of a person who has been actively engaged as a full-time licensed real estate broker-salesperson or salesperson in private practice.

     [Real Estate Adv. Comm’n, § XVI subsecs. h, i, m & t, eff. 10-31-75; § XVI subsec. t, eff. 12-20-75]—(NAC A by Real Estate Comm’n, 8-21-81; A by Real Estate Div., 11-30-87; 3-31-94; A by Real Estate Comm’n by R111-01, 12-17-2001)