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Online
Enrollment Available:
All Las Vegas Dates (Item #58)
Why is this the best Business Broker
Course Available?
Each student gets:
1.
A 550 page Business Opportunity Brokerage Seminar Guide and Reference
Manual, copyright by Toby Tatum
2.
A 100 page book on business purchase & sale negotiating points,
copyright by Toby Tatum
3.
A CD with 10 MS Excel worksheets with business brokerage
applications, including 3 business valuation programs, developed by Toby
Tatum
Toby Tatum (Course Instructor) is the only practicing
business broker in
Nevada who is also a Certified Business Appraiser
Toby Tatum, MBA, CBA is the former President, CEO and
CFO of a multi-unit restaurant company employing 275 people, grossing $9
million per year
Toby Tatum is a former Associate Professor of
Management at Sonoma State University in
Sonoma County, Calif.
Toby Tatum is a former faculty member of the University
of Phoenix, Reno Nevada
Toby Tatum is a former columnist for the Reno-Gazette
Journal where he wrote the semi-monthly column “Small Businesses”
Toby Tatum is a former columnist for Northbay Biz
magazine where he wrote the monthly column “Business Beat.” Both columns
offered financial management, business sale and purchase and business
valuation advice to business owners and professional practitioners.
Use the
following links to view state applications for business broker permit
application:
http://www.red.state.nv.us/forms/624.pdf
http://www.red.state.nv.us/forms/624A.pdf
Important
to note: Prospective Business Broker Permit holders must obtain a new set of
finger prints and apply for another back ground check. (This can be
completed at the time of testing / applicants completing a finger prints and
background check information for the NV Real Estate Division within the last
12 months are exempt from a new finger print and background investigation)
http://www.keyrealtyschool.com/Electronic_Fingerprints.pdf
This Section contains
helpful information pertaining to the Statute and Regulation surrounding the
Nevada Business Broker permit.
Additional
legislative changes have been made in early 2007. Please use this link to
view these early 2007 changes:
http://www.red.state.nv.us/Regulations/E645-01.pdf
NRS
645.0075
“Business
broker” defined.
“Business broker” means a
person who, while acting as a real estate broker, real estate
broker-salesman or real estate salesman for another and for compensation or
with the intention or expectation of receiving compensation:
1. Sells, exchanges, options or
purchases a business;
2. Negotiates or offers, attempts or
agrees to negotiate the sale, exchange, option or purchase of a business; or
3. Lists or solicits prospective
purchasers of a business.
(Added to NRS by
2005, 646)
Use this link to examine the law in context:
http://www.leg.state.nv.us/NRS/NRS-645.html#NRS645Sec0075
NRS
645.863
Permit
to engage in business as business broker: Persons eligible; requirements;
continuing education; expiration; renewal; regulations.
1. A person who is licensed as a real
estate broker, real estate broker-salesman or real estate salesman pursuant
to this chapter may apply to the Real Estate Division for a permit to engage
in business as a business broker.
2. An applicant for a permit must:
(a) Provide proof satisfactory to the
Real Estate Division that he has successfully completed at least 24 hours of
classroom instruction relating to business brokerage; and
(b) Comply with any other requirements
for the issuance of a permit established by the Commission.
3. A permit expires on the same date
as the license of the holder of the permit expires. A permit may be renewed
at the time that a person licensed pursuant to this chapter applies for
renewal of his license.
4. An applicant for the renewal of a
permit must:
(a) Provide proof satisfactory to the
Real Estate Division that he has successfully completed at least 3 hours of
continuing education required for the renewal of his license pursuant to
NRS 645.575 in an approved educational course, seminar or conference
relating to business brokerage.
(b) Comply with any other requirements
for renewal of a permit established by the Commission.
5. The Commission shall adopt such
regulations as are necessary to carry out the provisions of this section.
The regulations must include, without limitation, provisions that establish:
(a) Requirements for the issuance or
renewal of a permit.
(b) Fees for:
(1) The issuance or renewal of
a permit;
(2) The cost of any examination
required of an applicant for a permit, including, without limitation, any
costs which are necessary for the administration of an examination; and
(3) The cost of any
investigation of an applicant for a permit.
(c) Standards of education for the
approval of a course of instruction to qualify an applicant for the issuance
or renewal of a permit.
(Added to NRS by
2005, 646)
NRS
645.865
Permit
to engage in business as business broker: Requirements for certain
organizations.
1. To engage in business as a
business broker in this State:
(a) A partnership shall designate one
of its members;
(b) A corporation shall designate one
of its officers or employees;
(c) A limited-liability company shall
designate its manager; and
(d) A real estate broker who conducts
business as a sole proprietor shall designate himself or a person who is
licensed under the real estate broker,
Ę to submit an application for a permit
pursuant to
NRS 645.863. The partnership, corporation, limited-liability company or
sole proprietor shall not engage in business as a business broker unless the
person so designated has been issued such a permit.
2. If the person designated to apply
for a permit meets the qualifications for a permit set forth in
NRS 645.863, the Real Estate Division shall issue to that person a
permit to engage in business as a business broker on behalf of the
partnership, corporation, limited-liability company or sole proprietor.
3. A person to whom such a permit has
been issued may act as a business broker pursuant to the permit only on
behalf of the partnership, corporation, limited-liability company or sole
proprietor, and not on his own behalf. If that person ceases to be connected
or associated with the partnership, corporation, limited-liability company
or sole proprietor, the partnership, corporation, limited-liability company
or sole proprietor shall designate another person who meets the
qualifications for a permit set forth in
NRS 645.863 to hold the permit on behalf of the partnership,
corporation, limited-liability company or sole proprietor.
4. Any member, officer or employee of
a partnership, corporation, limited-liability company or sole proprietor,
other than the person designated as the business broker pursuant to
subsection 1, who wishes to engage in business as a business broker must
apply in his own name for a permit. Pursuant to such a permit, the member,
officer or employee of a partnership, corporation, limited-liability company
or sole proprietor may act as a business broker only as an officer, agent or
employee of the partnership, corporation, limited-liability company or sole
proprietor, and not on his own behalf.
(Added to NRS by
2005, 647)
NRS
645.867
Designated
business brokers: Requirements; qualifications; duties.
1. If a real estate broker does not
hold a permit to engage in business as a business broker but intends to have
the activities of a business broker conducted at an office, the real estate
broker must:
(a) Appoint a person, who has the
qualifications required by this section, as the designated business broker
for the office to supervise the activities of a business broker conducted at
the office; and
(b) Submit notice of the appointment
to the Division.
2. The designated business broker for
an office must be a natural person who:
(a) Holds a license as a real estate
broker or real estate broker-salesman;
(b) Holds a permit to engage in
business as a business broker; and
(c) Has 2 years active experience,
within the 4 years immediately preceding the date of the appointment, in
conducting the activities of a business broker in the United States as a
licensed real estate broker, real estate broker-salesman or real estate
salesman.
3. While acting as the designated
business broker for an office, the person:
(a) Must comply with all applicable
provisions of this chapter; and
(b) Is subject to all the remedies and
penalties provided for in this chapter.
(Added to NRS by
2005, 647)
Use this link to examine the laws in
context:
http://www.leg.state.nv.us/NRS/NRS-645.html#NRS645Sec863
Feel free to contact
the school admissions office with additional questions.
Nevada Office: 800 472
3893
The following list notes
all texts recommended to study in better preparation for the Nevada Business
Broker Permit exam:
Nevada Administrative Code, Chapter 645 (2006)
Nevada Revised Statutes, Chapter 645 (2006)
Pratt, S.P., Reilly, R.F., & Schweis, R.P. (1998). Valuing Small
Businesses
and Professional Practices, 3rd Ed. New York: McGraw Hill.
Tatum, Toby (2002). Making a Small Business Purchase Offer. Niantic,
CT: RDS
Associates, Inc./Business Book Press.
West, Thomas L. (2002). The Complete Guide to Business Brokerage, 3rd
Ed.
Business Brokerage Press.
West, Thomas L. and Jones, J.D. (1999). Handbook of Business
Valuation, 2nd
Ed. New York: John Wiley & Sons, Inc.
West, Tom (2006). 2006 Business Reference Guide: The Essential Guide
To Pricing a Business, 16th Ed. Business Brokerage Press.
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