law

Education, Research and Recovery Fund (Nevada)

Nevada's fund that pays a claimant holding a final judgment against a licensee for fraud, misrepresentation or deceit in a transaction requiring a license, after unsuccessful collection efforts. The petition is filed in the court that entered the judgment within 1 year after all proceedings end. The fund pays only unpaid actual damages, up to $25,000 per judgment and $100,000 total for any one licensee. Payment automatically suspends the license until the fund is repaid with interest.