“Qualified intermediary” defined. [Effective on the date of the repeal of the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]
1. As used in NRS 645.606 to 645.6085, inclusive, “qualified intermediary” has the meaning ascribed to it in 26 C.F.R. § 1.1031(k)-1(g).
2. The term includes any person who advertises or holds himself out as prepared to facilitate a tax-deferred exchange of property in this state by acting as the custodian of money or other property.
3. The term does not include a bank, credit union or other depository institution, an escrow company, a title insurer, an agent licensed pursuant to chapter 692A of NRS or its subsidiaries or employees.
Last modified: February 27, 2006