NAC645E.240. Use of fictitious name.

     1. A mortgage banker shall not conduct business using a fictitious name unless the mortgage banker:

     (a) Complies with the provisions of chapter 602 of NRS;

     (b) Files with the Division a certified copy, issued by the appropriate county clerk, of the certificate filed by the mortgage banker pursuant to chapter 602 of NRS indicating the fictitious name; and

     (c) Receives from the Division a license or certificate of exemption indicating the fictitious name.

     2. If a mortgage banker conducts business using a fictitious name pursuant to this section, the mortgage banker may conduct business using a new fictitious name only if the mortgage banker:

     (a) Obtains a certified copy, issued by the appropriate county clerk, of the certificate filed by the mortgage banker pursuant to chapter 602 of NRS indicating the new fictitious name;

     (b) Files with the Division, not later than 10 calendar days after obtaining the certified copy pursuant to paragraph (a):

          (1) The certified copy obtained pursuant to paragraph (a); and

          (2) The current license or certificate of exemption of the mortgage banker; and

     (c) Receives from the Division an amended license or certificate of exemption indicating the new fictitious name.

     3. A mortgage banker may conduct business using more than one fictitious name only if the mortgage banker obtains a separate license issued pursuant to chapter 645E of NRS for each fictitious name under which he or she intends to do business. A mortgage banker who conducts business in this State using more than one fictitious name is responsible for the conduct of each qualified employee, mortgage agent and other employee associated with the mortgage banker, regardless of the license or name under which the conduct takes place.

     (Added to NAC by Comm’r of Financial Institutions by R046-00, eff. 9-5-2000; A by Comm’r of Mortgage Lending by R088-04, 8-25-2004)