§ 645B.620 — Duties of Commissioner when violation is suspected; referral of violations to Attorney General for criminal prosecution; civil action for injunctive relief

Nevada § 645B.620

• Jurisdiction: Nevada
• Title 54: PROFESSIONS, OCCUPATIONS AND BUSINESSES
• Ch. 645B: Mortgage

Text

1. Whether or not a complaint has been filed, the Commissioner may investigate a mortgage company, mortgage loan originator or other person if, for any reason, it appears that:
(a) The mortgage company or mortgage loan originator is conducting business in an unsafe and injurious manner or in violation of any provision of this chapter, a regulation adopted pursuant to this chapter or an order of the Commissioner;
(b) The person is offering or providing any of the services of a mortgage company or mortgage loan originator or otherwise engaging in, carrying on or holding himself or herself out as engaging in or carrying on the business of a mortgage company or mortgage loan originator without being appropriately licensed or exempt from licensing pursuant to the provisions of this chapter; or
(c) The person is violating any other provision of this chapter, a regulation adopted pursuant to this chapter or an order of the Commissioner.
2. If, upon investigation, the Commissioner has reasonable cause to believe that the mortgage company, mortgage loan originator or other person has engaged in any conduct or committed any violation described in subsection 1:
(a) The Commissioner shall notify the Attorney General of the conduct or violation and, if applicable, the Commissioner shall immediately take possession of the property of the mortgage company pursuant to NRS 645B.630 ; and
(b) The Attorney General shall, if appropriate:
(1) Investigate and prosecute the mortgage company, mortgage loan originator or other person pursuant to NRS 645B.800 ; and
(2) Bring a civil action to:
(I) Enjoin the mortgage company, mortgage loan originator or other person from engaging in the conduct, operating the business or committing the violation; and
(II) Enjoin any other person who has encouraged, facilitated, aided or participated in the conduct, the operation of the business or the commission of the violation, or who is likely to engage in such acts, from engaging in or continuing to engage in such acts.
3. If the Attorney General brings a civil action pursuant to subsection 2, the district court of any county of this State is hereby vested with the jurisdiction in equity to enjoin the conduct, the operation of the business or the commission of the violation and may grant any injunctions that are necessary to prevent and restrain the conduct, the operation of the business or the commission of the violation. During the pendency of the proceedings before the district court:
(a) The court may issue any temporary restraining orders as may appear to be just and proper;
(b) The findings of the Commissioner shall be deemed to be prima facie evidence and sufficient grounds, in the discretion of the court, for the ex parte issuance of a temporary restraining order; and
(c) The Attorney General may apply for and on due showing is entitled to have issued the court’s subpoena requiring forthwith the appearance of any person to:
(1) Produce any documents, books and records as may appear necessary for the hearing of the petition; and
(2) Testify and give evidence concerning the conduct complained of in the petition.

Legislative History

(Added to NRS by 1973, 1540 ; A 1983, 1705 ; 1987, 1882 ; 1999, 3790 ; 2003, 3554 ; 2017, 3073 )