Nevada § 671.225 Failure to remit money as required: Relief authorized in action by licensee against authorized delegate; notification by licensee required upon issuance of order prohibiting person from acting as authorized delegate; penalty

Nevada Statutes

§ 671.225 — Failure to remit money as required: Relief authorized in action by licensee against authorized delegate; notification by licensee required upon issuance of order prohibiting person from acting as authorized delegate; penalty

Nevada § 671.225

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 671Money

AUTHORIZED DELEGATES

This text of Nevada § 671.225 (Failure to remit money as required: Relief authorized in action by licensee against authorized delegate; notification by licensee required upon issuance of order prohibiting person from acting as authorized delegate; penalty) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 671.225 (2026).

Text

1. If, in any action brought by a licensee against an authorized delegate, the court finds that the authorized delegate failed to remit money in accordance with the written contract with the licensee required by NRS 671.205 or as otherwise directed by the licensee or required by law, the court may grant appropriate equitable or legal relief, including, without limitation, prohibiting the authorized delegate from directly or indirectly acting as an authorized delegate for any licensee in this State and the payment of restitution, damages or other monetary relief. 2. If a court issues an order prohibiting a person from acting as an authorized delegate for any licensee pursuant to subsection 1, the licensee that brought the action shall report the order to:

(a)The Commissioner within 30 days

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1. If, in any action brought by a licensee against an authorized delegate, the court finds that the authorized delegate failed to remit money in accordance with the written contract with the licensee required by NRS 671.205 or as otherwise directed by the licensee or required by law, the court may grant appropriate equitable or legal relief, including, without limitation, prohibiting the authorized delegate from directly or indirectly acting as an authorized delegate for any licensee in this State and the payment of restitution, damages or other monetary relief.
2. If a court issues an order prohibiting a person from acting as an authorized delegate for any licensee pursuant to subsection 1, the licensee that brought the action shall report the order to:
(a) The Commissioner within 30 days after entry of the order; and
(b) The Registry within 90 days after entry of the order.
3. An authorized delegate who holds money in trust for the benefit of a licensee and knowingly fails to remit money is guilty of a misdemeanor.
4. As used in this section, “remit” means to make direct payments of money, credits or monetary value to a licensee or its representative authorized to receive money or to deposit money in an account specified by the licensee in a bank or credit union authorized to do business in this State.