NAC645F.220. Grounds for refusal to issue license: Conviction of certain crimes; suspension or revocation of certain licenses or registration.

The Commissioner may refuse to issue a license to an applicant if the Commissioner has reasonable cause to believe that the applicant or, if the applicant is not a natural person, any general partner, officer or director of the applicant has employed or otherwise associated with, or proposes to employ or otherwise associate with, a person authorized to conduct activity on behalf of the applicant at a time when the applicant or the general partner, officer or director knew or, in light of all the surrounding facts and circumstances, reasonably should have known that the person:

     1. Had been convicted of, or entered a plea of guilty or nolo contendere to a felony relating to the practice of a covered service provider, foreclosure consultant or loan modification consultant, or any crime involving fraud, misrepresentation or moral turpitude; or

     2. Had a professional license or a financial services license or registration that was issued in this State or any other state, the United States, any district or territory of the United States or any foreign country suspended or revoked within the immediately preceding 10 years.

     (Added to NAC by Comm’r of Mortgage Lending by R052-09, eff. 8-25-2009)