2023 Nevada Revised Statutes › Chapter 671 - Money Transmission › NRS 671.098 - Additional materials required to be submitted to Commissioner by certain persons through Nationwide Multistate Licensing System and Registry.

1. In addition to any other requirements set forth in this chapter, each natural person who is an applicant for the issuance of a license pursuant to NRS 671.050, each natural person in control of such an applicant, each owner, officer, director and proposed key individual of the applicant, each natural person who seeks to acquire control of a licensee pursuant to NRS 671.155, each person who becomes a key individual of a licensee and any other person the Commissioner may require in accordance with guidelines of the Registry or other multistate agreements shall submit to the Commissioner through the Registry:
(a) Except as otherwise provided in subsection 5, a complete set of fingerprints for submission to the Federal Bureau of Investigation and any other governmental agency or entity authorized to receive such information for a state, national and international background check on the criminal history of the person;
(b) Except as otherwise provided in subsection 6, information concerning the personal history, financial history and experience of the person in a form prescribed by the Registry, including, without limitation, an authorization of the person for the Registry and the Commissioner to obtain:
(1) An independent credit report and credit score from a consumer reporting agency described in section 603(f) of the Fair Credit Reporting Act, 15 U.S.C. § 1681a(f), for the purpose of evaluating the financial responsibility of the person at the time of the submission of the application; and
(2) Additional independent credit reports and credit scores to confirm that the person continues to comply with any applicable requirements concerning financial responsibility;
(c) Information related to any regulatory or administrative action and any civil litigation involving claims of fraud, misrepresentation, conversion, mismanagement of funds, breach of fiduciary duty or breach of contract;
(d) Information related to any criminal convictions or pending charges against the person; and
(e) Any other information concerning the person that the Registry or Commissioner may require.
2. In addition to the requirements set forth in subsection 1, if a natural person described in subsection 1 has resided outside of the United States at any time in the 10 years immediately preceding the date on which the applicable application or notice is submitted to the Commissioner pursuant to NRS 671.050, 671.155 or 671.195, the natural person must also submit to the Commissioner, through the Registry, an investigative background report prepared by an independent search firm.
3. The search firm described in subsection 2 must, at a minimum:
(a) Demonstrate to the satisfaction of the Commissioner that it has sufficient knowledge and resources and employs accepted and reasonable methodologies to conduct the research of the investigative background report; and
(b) Not be affiliated with or have an interest with the natural person it is researching.
4. The investigative background report described in subsection 2 must, at a minimum, be written in English and contain the following information:
(a) If available in the jurisdiction in which the natural person resides, a comprehensive credit report or any equivalent information obtained or generated by the independent search firm to accomplish the investigative background report, including, without limitation, a search of the court data in each country, province, state, city, town and contiguous area where the natural person resided and worked;
(b) Criminal records information for the immediately preceding 10 years, including, without limitation, information regarding any felony, misdemeanor or similar conviction for a violation of law in each country, province, state, city, town and contiguous area where the natural person resided and worked;
(c) Employment history;
(d) Media history, including, without limitation, an electronic search of national and local publications, wire services and business applications; and
(e) Regulatory history relating to financial services, including, without limitation, money transmission, securities, banking, insurance and mortgage related industries.
5. The requirements of paragraph (a) of subsection 1 do not apply to a natural person who, at the time the applicable application or notice has been submitted pursuant to NRS 671.050, 671.155 or 671.195, resides outside of the United States and has resided outside of the United States for the 10 years immediately preceding the date on which the application or notice was submitted.
6. A natural person who does not have a social security number is not required to provide to the Commissioner information to obtain an independent credit report from a consumer reporting agency.
(Added to NRS by 2021, 2033; A 2023, 124)