NAC645.770. Disciplinary action; investigation of financial status.

     1. The Commission may fine an owner-developer, revoke or suspend the registration of an owner-developer, or impose a fine and revoke or suspend the registration of an owner-developer for any violation of chapter 113, 116, 119, 119A, 645, 645C or 645D of NRS or the regulations adopted pursuant thereto.

     2. If the Administrator has reason to believe that there has been a substantial change in the financial status of the owner-developer since his or her original application, the Administrator shall investigate the financial status of the owner-developer. If the Administrator determines that the owner-developer is financially incompetent to maintain his or her business, the Administrator shall bring a complaint for revocation of the registration of the owner-developer.

     [Real Estate Adv. Comm’n, § XVI subsec. o, eff. 10-31-75]—(NAC A by Real Estate Comm’n, 8-21-81; 4-27-84; R031-04, 11-30-2004)