NAC645A.300. Fee for supervision and related activities: Amount; collection; failure to pay; accounting of time billed.

     1. The Commissioner will charge and collect a fee of $60 per hour from each escrow agency for any supervision, examination, audit, investigation or hearing conducted pursuant to chapter 645A of NRS.

     2. The Commissioner will bill each escrow agency upon the completion of the activity for the fee established in subsection 1. The fee must be paid within 30 days after the date the bill is received. Except as otherwise provided in this subsection, any payment received after that date must include a penalty of 10 percent of the fee plus an additional 1 percent of the fee for each month, or portion of a month, that the fee is not paid. The Commissioner may waive the penalty for good cause.

     3. The failure of an escrow agency to pay the fee required in subsection 1 as provided in this section constitutes grounds for revocation of its license.

     4. Upon written request by an escrow agency, the Division must provide an accounting of the time billed to the escrow agency pursuant to this section.

     (Added to NAC by Comm’r of Financial Institutions, eff. 5-27-92; A by Comm’r of Mortgage Lending by R086-04, 8-25-2004)—(Substituted in revision for NAC 645A.010)