Nev. Admin. Code § 645F.988

Current through December 12, 2024

Section 645F.988 - Orders to cease and desist from certain activities

1. If a person engages in an activity in violation of any provision of chapter 645F of NRS or the Nevada Mortgage Servicer Regulations, the Commissioner may issue an order to the person directing the person to cease and desist from engaging in the activity.

2. The order to cease and desist must be in writing and served personally or sent by certified mail to the last known address of the person or by other means reasonably calculated to obtain service on the person and must state that, in the opinion of the Commissioner, the person has engaged in an activity:

(a) For which the person has not received a license as required by chapter 645F of NRS and the Nevada Mortgage Servicer Regulations; or

(b) In a manner that violates the provisions of chapter 645F of NRS or the Nevada Mortgage Servicer Regulations.

3. Not later than 30 calendar days after receiving an order pursuant to this section, the person who receives the order may file a written notice with the Commissioner to request a hearing. Upon receipt of the written notice, the Commissioner may, for good cause shown, suspend the order pending the hearing. The Commissioner will hold the hearing on a date not later than 30 calendar days after the date on which the petition is filed unless the Commissioner and the person agree to another date. The order to cease and desist is rescinded if the Commissioner fails to:

(a) Hold a hearing:

(1) Not later than 60 calendar days after the date on which the written notice is filed; or

(2) On a date agreed to by the Commissioner and the person; or

(b) Render a written decision within 45 days after the date on which the hearing is concluded.

4. A hearing held pursuant to this section must be conducted under the provisions of chapter 233B of NRS and other applicable provisions of law.

5. If a person fails to file a written notice to request a hearing within 30 calendar days after receiving the order, the Commissioner will issue a final order.

6. A final order issued pursuant to subsection 5 or the decision of the Commissioner after a hearing is a final decision for the purposes of judicial review.

Nev. Admin. Code § 645F.988

Added to NAC by Comm'r of Mortgage Lending by R120-15, effective upon the later of 1/1/2016 or the date this regulation is filed with the Secretary of State.

NRS 645F.255 and section 86.4 of Assembly Bill No. 480, chapter 477, Statutes of Nevada 2015, at page 2806