NAC645A.260. Maintenance and provision of certain records in electronic format.

The records required by NAC 645A.250 may be maintained by an escrow agency pursuant to NAC 645A.250 and provided to the Commissioner or an authorized representative of the Commissioner in an electronic format if:

     1. The records are maintained and provided in a software format acceptable to the Commissioner that allows the Commissioner or an authorized representative complete access to all records;

     2. The escrow agency ensures that the Commissioner or an authorized representative has the ability to download and print any or all of the records maintained in an electronic format;

     3. The escrow agency provides in printed form any or all of the records maintained in an electronic format:

     (a) If the electronic records are not maintained in a format that enables the Commissioner or an authorized representative to determine if the escrow agency is complying with the provisions of chapter 645A of NRS or the regulations adopted pursuant thereto; or

     (b) Upon the request of the Commissioner or an authorized representative; and

     4. The records are maintained on a media that:

     (a) Is not erasable;

     (b) Does not allow changes to a document stored on the media;

     (c) Is consistent with the minimum standards of quality approved by the National Institute of Standards and Technology or the Association for Information and Image Management; and

     (d) Contains written authentication identifying the electronic record as an exact, unaltered copy of the document which the record purports to be.

     (Added to NAC by Comm’r of Mortgage Lending by R143-08, eff. 4-20-2010)