Nevada § 489.411 - Grounds for disciplinary action: Compensation from certain exclusive agreements; conflicts of interest; paying unlicensed person; commingling; allowing unlicensed person to engage in acts requiring licensure; failure to account for or remit money or to discharge final judgment; acting as agent and undisclosed principal

§ 489.411. Grounds for disciplinary action: Compensation from certain exclusive agreements; conflicts of interest; paying unlicensed person; commingling; allowing unlicensed person to engage in acts requiring licensure; failure to account for or remit money or to discharge final judgment; acting as agent and undisclosed principal

The following grounds, among others, constitute grounds for disciplinary action under NRS 489.381 : 1. Claiming, demanding or receiving a fee, compensation or commission under any exclusive

agreement, authorizing or employing a licensee to sell, distribute, buy or exchange

a manufactured home, mobile home, manufactured building or commercial coach or factory-built

housing for compensation or commission, where the agreement does not contain a definite

specified date of final and complete termination, does not set forth the terms and

conditions of the exclusive agreement or is not signed by both the licensee and the

owner. 2. While the employee, agent or fiduciary of a licensee, soliciting, accepting or

agreeing to accept any benefit, fee, commission or compensation for the performance

of any of the acts specified in this chapter from any person except the licensee with

whom he or she is associated or employed. 3. Paying a commission or other compensation to any person or employing any person

for performing the services of a person required to be licensed under this chapter

who has not first secured a license pursuant to this chapter. 4. Commingling the money or other property of his or her principals with his or her

own or converting the money of others to his or her own use. 5. Knowingly permitting a person whose license has been revoked or suspended or who

does not hold a valid license to engage on behalf of the licensed dealer or distributor

in acts that require a license. 6. In the case of a salesperson, failing to give to the licensed dealer or distributor

by whom the salesperson is employed, as soon as practicable after receipt, a deposit

or other money or consideration entrusted to him or her by a person dealing with the

salesperson as a representative of the licensed dealer or distributor. 7. Failing within a reasonable time to account for or to remit any money coming into

his or her possession which belongs to others. 8. Failure or refusal by a licensee to pay or otherwise discharge any final judgment

rendered and entered against the licensee which arises out of the conduct of the licensee’s

business licensed under this chapter. 9. Acting in the dual capacity of agent and undisclosed principal in a transaction.