Introduction. 79 th Legislative Session How a Bill Becomes a Law 06/12/2017. Overview of the 79th Legislative Session

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1 79 th Legislative Session 2017 Introduction LEGISLATIVE LAW IT AFFECTS YOU! (3 Hours) CE RE (LL) "No man's life, liberty, or property is safe while the legislature is in session", Mark Twain (1866) Overview of the 79th Legislative Session How a Bill Becomes a Law Assembly 15 Republicans 27 Democrats Speaker Jason Frierman BILLS # BDRS 1235 # Senate Bills 560 # Assembly Bills Signed into Law 35 Vetoed Senate 9 Republicans 1 Nonpartisan 11 Democrats Majority Leader Sen. Aaron Ford Initial Idea and Draft Timeline for Bills Exempt Bills Actions Taken in the House of Origin Actions Taken in the Second House Resolution of Differences Cancellation of Resale Package Uniform Commercial Real Estate Receiver Act SB 255 May be Effective July 1, 2017 AB 235 Establishes appointment and powers of the receiver Stop waste Preserve property valuation Effective October 1, 2017 Duties & Responsibilities Power Who is Receiver Receivership Liabilities Qualifications & Disqualifications Appointment 1

2 Change to Rental Agreements AB 161 Notarized Leases Leases signed by Property Managers with a Permit do not need to be notarized Effective July 1, 2017 Landlord Prohibition from Taking Adverse Actions AB 133 Landlord may not take adverse action against a tenant for requesting emergency services Protects landlord s right to cure breaches that are nuisance breaches Effective July 1, 2017 Early Termination of Lease Foreclosure Protection for Military AB 247 Expands previous Domestic Violence protection in NRS118A.345 Includes crimes of harassment, sexual assault and stalking Effective October 1, 2017 SB 33 Protection up to one year after service Reinforces the federal Servicemembers Civil Relief Act protections Effective May 29, 2017 Auction/Sale of Property SB 267 Now expands sales to Clark and Washoe Extends SB278 (2013) to June 30, 202. This is the expedited foreclosure of abandoned property Effective May 25, 2017 Marijuana Bills & Nevada Numerous bills to deal with taxes, use, etc. Marijuana is still not legal federally Employees of national companies beware National companies in Nevada are terminating employees who fail random drug tests for Marijuana. 2

3 The Current Commissioners Nevada Real Estate Division Complaints LEE BARRETT Secretary Clark County WAYNE CAPURRO Commissioner Washoe County DEVIN REISS Vice President Clark County NEIL SCHWARTZ President Clark County 11/01/ /12/ /01/ /12/ /31/ /31/ /31/ /31/2019 NORMA JEAN OPATIK Commissioner Nye County 01/29/2013 Expires 10/31/2018 Property Management Cases Property management complaints generate nearly 80% of all Commission Hearing Cases Unlicensed Property Management Unlicensed property management activity (NRS ). Division Information Bulletin #012, PM Information Bulletin Division Information Bulletin #010, Unlicensed Assistant / Virtual Assistants. Trust Account Embezzlement Trust account embezzlement and commingling (Trust Fund Accounting manual). Preventing Embezzlement A Recent Commission Case Turnberry Embezzlement 3

4 Failing to Remit Funds Managers failing to account for or remit funds (Trust Fund Accounting manual; NRS 118A ). Suspicious Reconciliations Trust account reconciliations submitted by brokers indicating suspicious, questionable or non compliant handling of monies belonging to others. Form 546 Failure to Submit Trust Account Reconciliations Brokers failing to submit their Trust Account Reconciliations Form 546 Failure to Submit Trust Account Reconciliations Brokers failing to submit their Form 546A Affidavit In Lieu Of Other Common Cases Conducting Real Estate Activity Outside the Brokerage Broker Salespersons / Salespersons conducting real estate activity outside the brokerage and receiving compensation directly from clients or associates (NRS ; NRS ). These make up approximately 20% of all Commission Hearing Cases but are just as important. 4

5 Unlicensed Real Estate Activity Unlicensed real estate activity including those without the appropriate Nevada licensure and outof state licensees (NRS ; NRS ) Failure to Cooperate with Investigation Failure to respond to the Division's request for information or failure to cooperate with the investigation. (NRS ). Advertising Violations Failure to exercise reasonable skill and care NRS Duties of licensee acting as agent in real estate transaction. A licensee who acts as an agent in a real estate transaction: 1. Shall disclose to each party to the real estate transaction as soon as is practicable: (a) Any material and relevant facts, data or information which the licensee knows, or which by the exercise of reasonable care and diligence should have known, relating to the property which is the subject of the transaction. Failure to exercise reasonable skill and care SB 319, 2005 Legislature Failed to Pass Section 1. NRS is hereby amended to read as follows: A licensee who acts as an agent in a real estate transaction: 1. Shall disclose to each party to the real estate transaction as soon as [is] practicable: (a) Any material and relevant facts, data or information of which he [knows, or which by the exercise of reasonable care and diligence he should have known,] has actual knowledge relating to the property which is the subject of the transaction. 5

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