NAC645F.330. Statements required if independent licensee terminates employment of or association with associated licensee.

If an independent licensee terminates the employment of or association with an associated licensee for any reason, the independent licensee shall, not later than the third business day following the date of termination:

     1. Deliver to the associated licensee or send by certified mail to the last known residence address of the associated licensee a written statement which advises the associated licensee:

     (a) Of the termination of the associated licensee’s employment by or association with the independent licensee; and

     (b) That the termination is being reported to the Commissioner; and

     2. Deliver or send by certified mail to the Commissioner:

     (a) A written statement that the independent licensee has terminated the employment of or association with the associated licensee; and

     (b) The license or license number of the associated licensee.

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