NAC645B.004. “Major violation” defined.

Latest version.

“Major violation” means a violation of the provisions of this chapter or chapter 645B of NRS:

     1. Which causes substantial loss or harm to any person or which, in the opinion of the Commissioner, could have caused substantial loss or harm to any person;

     2. For which the Commissioner has taken disciplinary action repeatedly, except a violation for the late filing of required reports, financial statements or fees that the Commissioner considers to be a minor violation; or

     3. Which, in the opinion of the Commissioner, was the result of willful misconduct or indifference to the obligations of the mortgage broker pursuant to this chapter or chapter 645B of NRS.

(Added to NAC by Comm’r of Financial Institutions by R045-00, eff. 9-5-2000)

                    
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