Nevada § 616A.220 - “Employee”: Real estate licensees

§ 616A.220. “Employee”: Real estate licensees

1. Each person licensed pursuant to chapter 645 of NRS as a real estate broker, broker-salesperson or salesperson who does business in this

State and receives wages, commissions or other compensation based upon activities

for which the license is required may elect coverage pursuant to chapters 616A to

616D, inclusive, of NRS. If coverage is so elected, the real estate broker, broker-salesperson

or salesperson shall be deemed for the purpose of those chapters to earn wages of

$1,500 per month. Except as otherwise provided in subsection 2, not more than one premium may be collected

from such a licensee for the wages, commission or other compensation the licensee

receives from any activity for which such a license is required. 2. Except as otherwise provided in this subsection, if a licensee holds both an individual

broker license and a corporate broker license, the licensee shall pay the premium

for coverage under the corporate broker license only and is limited to recovery of

benefits in accordance with the deemed compensation attributed to that license only.

If a licensee holds both an individual broker license and a corporate broker license

and elects to pay premiums for coverage under the individual broker license also,

the licensee may recover benefits in accordance with the deemed compensation attributed

to both licenses.