Nevada Administrative Code
Chapter 645 - Real Estate Brokers and Salespersons
REAL ESTATE EDUCATION, RESEARCH AND RECOVERY FUND
Section 645.485 - Compromise of claim

Universal Citation: NV Admin Code 645.485

Current through September 16, 2024

1. In compromising a claim pursuant to NRS 645.845, the Administrator may prepare and enter into a stipulation with the petitioner and file a joint petition with the court.

2. Before the Administrator and the petitioner file such a joint petition, the Administrator shall advise the petitioner in writing that:

(a) The Division does not represent the interests of the petitioner; and

(b) The petitioner should seek the advice of independent legal counsel regarding the proposed compromise.

3. The Administrator shall compromise any claim and defend any action against the Real Estate Education, Research and Recovery Fund on behalf of the Fund in which a settlement has been agreed upon by the petitioner or paid to the petitioner, including, without limitation, any settlement by a third party that has been agreed upon by the petitioner or paid to the petitioner.

Added to NAC by Real Estate Div., eff. 3-31-94; A by Real Estate Comm'n by R111-01, 12-17-2001

NRS 645.190, 645.845

Disclaimer: These regulations may not be the most recent version. Nevada may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.