Section 645B.490 - Right to be placed on inactive status; procedure for reinstatement Except as otherwise required by the Registry for persons who are required to register or voluntarily register with the Registry:
1. Any mortgage company or mortgage loan originator licensed under the provisions of this chapter who is called into the military service of the United States shall, at his or her request, be relieved from compliance with the provisions of this chapter and placed on inactive status for the period of such military service and for a period of 6 months after discharge therefrom.2. At any time within 6 months after termination of such service, if the mortgage company or mortgage loan originator complies with the provisions of subsection 1, the mortgage company or mortgage loan originator may be reinstated, without having to meet any qualification or requirement other than the payment of the reinstatement fee, as provided in NRS 645B.050 or 645B.430, and the mortgage company or mortgage loan originator is not required to make payment of the renewal fee for the current year.3. Any mortgage company or mortgage loan originator seeking to qualify for reinstatement, as provided in subsections 1 and 2, must present a certified copy of his or her honorable discharge or certificate of satisfactory service to the Commissioner.Added to NRS by 2003, 3545; A 2011, 3620; 2017, 3072Amended by 2017, Ch. 486,§61, eff. 1/1/2020.Added to NRS by 2003, 3545; A 2011, 3620