NRS 645B.180 - Limitations on execution or attachment of money in trust account; commingling of money prohibited. [Effective through December 31, 2019.]

NV Rev Stat § 645B.180 (2019) (N/A)

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1. Money in an impound trust account is not subject to execution or attachment on any claim against the mortgage broker or his or her mortgage agents.

2. It is unlawful for a mortgage broker or his or her mortgage agents knowingly to keep or cause to be kept any money in a depository financial institution under the heading of “impound trust account” or any other name designating such money as belonging to the investors or debtors of the mortgage broker, unless the money has been paid to the mortgage broker or his or her mortgage agents by an investor or debtor and is being held in trust by the mortgage broker pursuant to NRS 645B.170 or 645B.175.

(Added to NRS by 1973, 1543; A 1989, 1766; 1999, 1540, 3796)

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NRS 645B.175 - Trust or escrow account required for money received from investor to fund loan; trust or escrow account required for money received from debtor to repay loan; release of money; accounting to investor, debtor and Commissioner; additional conditions, limitations and prohibitions; duties of mortgage company not delegable or transferable; immunity from liability. [Effective January 1, 2020.]

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NRS 645B.180 - Limitations on execution or attachment of money in trust account; commingling of money prohibited. [Effective January 1, 2020.]

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