NAC645F.285. Closure of principal or branch office.

     1. A licensee may not close a principal office or a branch office until:

     (a) The licensee has returned his or her license; and

     (b) The Commissioner has approved the closure.

     2. The request for approval of the closure of the principal office of the licensee or a branch office of the licensee must contain the following information:

     (a) The status of any incomplete contracts for covered services and the manner in which they will be finalized;

     (b) An accounting of any trust account maintained by the licensee and the plan for distribution of money in the account;

     (c) If any person employed by or otherwise associated with the licensee has been terminated from such employment or association, evidence of the termination; and

     (d) The location within or outside of this State where records of the licensee will be maintained.

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