Mortgage company prohibited from acting as construction control.

Nev. Rev. Stat. § 645B.355
in effect
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A mortgage company shall not act as a construction control with respect to money belonging to a borrower or investor. If a borrower or investor wishes to utilize a construction control for money belonging to the borrower or investor, a mortgage company must place the money with a person who is independent of the mortgage company and is licensed or authorized to accept such money. The money must be subject to the control of a construction control which is in compliance with, or exempt from, the provisions of NRS 627.180 or 627.183.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-645B.htmlFetched: 10/4/2026

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