NAC645C.103. Issuance of certificate, license, registration or permit without examination.

     1. For the purpose of subsection 1 of NRS 645C.360, the Commission will consider the requirements for the certificate, license, registration or permit issued in another jurisdiction to be substantially equivalent to the requirements of this State if:

     (a) The requirements of the other jurisdiction meet or exceed the requirements adopted by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council; and

     (b) The Appraisal Subcommittee of the Federal Financial Institutions Examination Council has not disapproved the regulatory program to which the requirements of the other jurisdiction apply.

     2. An applicant for a permit who requests waiver of the examination pursuant to NRS 645C.360 must comply with NRS 645C.330 and:

     (a) NAC 645C.235, if the applicant is applying for a permit as a licensed residential appraiser;

     (b) NAC 645C.237, if the applicant is applying for a permit as a certified residential appraiser; or

     (c) NAC 645C.240, if the applicant is applying for a permit as a certified general appraiser.

     3. Before the Administrator may issue a permit, the applicant must affirm, on a form provided by the Division, that he or she has read and understands the provisions of this chapter and chapter 645C of NRS.

     (Added to NAC by Comm’n of Appraisers of Real Estate, eff. 5-27-92; A by R100-03, 1-30-2004)