NRS 645.256: Broker who provides asset management services to client required to provide Real Estate Division with certain information annually; disciplinary action by Division.

1. A broker who enters into an agreement to provide asset management services to a client shall:

(a) Disclose annually to the Division any such agreements to provide asset management services to a client; and

(b) Provide proof satisfactory to the Division on an annual basis that the broker has complied with the requirements of NRS 645H.490.

2. In addition to any other remedy or penalty, the Division may take administrative action, including, without limitation, the suspension of a license or permit or the imposition of an administrative fine, against a broker who fails to comply with this section.

3. As used in this section:

(a) “Asset management” has the meaning ascribed to it in NRS 645H.030.

(b) “Client” has the meaning ascribed to it in NRS 645H.060.