Broker Sandra operates a real estate office in Las Vegas. She wants to understand the maximum civil penalty that NRED can impose per violation for unlicensed activity in Nevada. Which amount correctly reflects the maximum civil penalty per violation under NRS Chapter 645?
Correct Answer
B) $10,000 per violation
Under NRS 645.990 and related provisions, the Nevada Real Estate Division may impose a civil penalty of up to $10,000 per violation for unlicensed activity or other violations of NRS Chapter 645. This is the standard maximum civil penalty authorized under Nevada real estate law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
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