State Codes and Statutes
Statutes > Nevada > Title-54 > Chapter-645b > General-provisions > 645b-01325645B.01325 “Residential mortgage loan originator” defined. “Residential mortgage loan originator” means a natural person who takes a residential mortgage loan application or offers or negotiates terms of a residential mortgage loan for compensation or other pecuniary gain. The term does not include:
1. A person who performs clerical or ministerial tasks as an employee at the direction of and subject to the supervision and instruction of a person licensed or exempt from licensing under this chapter, unless the person who performs such clerical or ministerial tasks is an independent contractor; or
2. A person solely involved in extensions of credit relating to timeshare plans, as that term is defined in 11 U.S.C. § 101(53D).
(Added to NRS by 2009, 2677)
