NAC645E.225. Sharing office space with another business.

     1. Except as otherwise provided in subsection 2, a mortgage banker may share office space with any other business if each business has a designated space within the office space and each business is separately identifiable by a sign or other method of identification within the office space.

     2. A mortgage banker may share office space with a business licensed pursuant to chapter 645 of NRS if:

     (a) Each business has separate and distinct office space and signs such that a reasonable customer would understand which business he or she is transacting with at all times;

     (b) Each business operates as a separate legal entity;

     (c) Each business maintains separate accounts, books and records;

     (d) Each business maintains separate licenses; and

     (e) The businesses are subsidiaries of the same parent corporation or are otherwise affiliated businesses.

     (Added to NAC by Comm’r of Mortgage Lending by R088-04, eff. 8-25-2004)