{"data":{"id":"us-nv/nrs-205.960","jurisdiction":"us-nv","citation":"NRS 205.960","heading":"Qualified intermediaries of clients with certain property: Unlawful acts; criminal penalty; civil penalty.","body":"1. It is unlawful for a person to enter into an agreement to act as a qualified intermediary, as defined in 26 C.F.R. § 1.1031(k)-1(g)(4), for a client whose relinquished property is located in this State unless:\n(a) The proceeds from the disposition of the relinquished property are deposited into a qualified escrow account or qualified trust as defined in 26 C.F.R. § 1.1031(k)-1(g)(3).\n(b) The money is held in such a manner that it may not be withdrawn from the qualified escrow account or qualified trust without the written approval of the intermediary and the client.\n2. A person who violates the provisions of this section is guilty of a category D felony and shall be punished as provided in NRS 193.130.\n3. In addition to any other penalty imposed, the court shall order a person who violates subsection 1 to pay a civil penalty of not less than $10,000. The money so collected:\n(a) Must not be deducted from any penal fine imposed by the court;\n(b) Must be stated separately on the court’s docket; and\n(c) Must be remitted forthwith to the Commissioner of Financial Institutions.","path":["TITLE 15 — CRIMES AND PUNISHMENTS","CHAPTER 205 - CRIMES AGAINST PROPERTY","MISCELLANEOUS CRIMES AGAINST PROPERTY"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-205.html#NRS205Sec960","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:34Z","sha256":"aa8a4fff47622d2dc05a9a4bc117dfde0492adcf905f6af8576938921c362fcc","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-205.950","next":"us-nv/nrs-205.965"},"notice":"GroundRules: Original legal text. Not legal advice."}