reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.250 - Books and accounting records: Practices; preservation; requirements regarding office or other place of business located outside State.

1. Each licensee shall keep and use in his or her business such books and accounting records as are in accord with sound and accepted accounting practices.
2. Each licensee shall maintain a separate record or ledger card for the account of each borrower and shall set forth separately the amount of cash advance and the total amount of interest and charges, but such a record may set forth precomputed declining balances based on the scheduled payments, without a separation of principal and charges.
3. Each licensee shall preserve all such books and accounting records for at least 2 years after making the final entry therein.
4. Each licensee who operates outside this state an office or other place of business that is licensed pursuant to this chapter shall:
(a) Make available at a location within this state the books, accounts, papers, records and files of the office or place of business located outside this state to the Commissioner or a representative of the Commissioner; or
(b) Pay the reasonable expenses for travel, meals and lodging of the Commissioner or a representative of the Commissioner incurred during any investigation or examination made at the office or place of business located outside this state.
The licensee must be allowed to choose between paragraph (a) or (b) in complying with the provisions of this subsection.
(Added to NRS by 1959, 231; A 2001, 2049)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.260 - Required reports.

1. Annually, on or before April 15, each licensee shall file with the Commissioner and the Nationwide Multistate Licensing System and Registry a report of operations of the licensed business for the preceding calendar year. The report must be made under oath and must be in the form and contain information prescribed by the Commissioner. If any person or affiliated group holds more than one license in the state, it may file a composite annual report.
2. The Commissioner may require a licensee to file more frequent reports as the Commissioner determines necessary.
(Added to NRS by 1959, 231; A 1981, 753; 1983, 1809; 1987, 1990; 2021, 2039)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.280 - False, misleading or deceptive advertising prohibited.

A licensee shall not advertise or permit to be advertised in any manner whatsoever any false, misleading or deceptive statement or representation with regard to the rates, terms or conditions for loans.
(Added to NRS by 1959, 231; A 1971, 1366; 1973, 1516; 1987, 179)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.284 - Notification of breach of security of computerized data system: Required notification to Attorney General under certain circumstances.

1. A licensee who is required to notify more than 500 residents of this State pursuant to NRS 675.283 as the result of a single breach shall notify the Attorney General of the breach not more than 30 days after the date on which the licensee discovered or was notified of the breach. The notification must include, without limitation:
(a) The number of residents of this State affected or estimated to be affected by the breach.
(b) A list of the types of personal information that were or are reasonably believed to have been subject to the breach.
(c) The period of time, if known, in which personal information was potentially subject to acquisition by unauthorized persons as a result of the breach, including, without limitation, the date of the breach and the date upon which the licensee discovered or was notified of the breach.
(d) A summary of the actions taken to contain the breach.
(e) A sample copy of the notification the licensee provided to persons affected or reasonably believed to be affected by the breach which excludes any personally identifiable information.
2. If any of the information described in subsection 1 is unavailable to a licensee at the time the licensee submits the notification to the Attorney General, the licensee shall promptly provide the information to the Attorney General after the information becomes available to the licensee.
(Added to NRS by 2023, 3476)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.285 - Commissioner required to investigate alleged violations of chapter.

If the Commissioner receives information from a registered agent pursuant to NRS 77.410 which indicates that a person may be violating the provisions of this chapter, the Commissioner shall investigate the person and take any appropriate action pursuant thereto.
(Added to NRS by 2007, 2726)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.296 - Practices regarding customers who are members of military.

Notwithstanding any other provision of law:
1. If a borrower is a member of the military, a licensee shall:
(a) Honor the terms of any repayment plan between the licensee and borrower, including, without limitation, any repayment plan negotiated through military counselors or third-party credit counselors.
(b) Honor any proclamation by a base commander that a certain branch location of the licensee is off-limits to members of the military and their spouses.
2. If a borrower is a member of the military, a licensee shall not:
(a) Garnish or threaten to garnish any wages or salary of the borrower or his or her spouse; or
(b) Contact or threaten to contact the military chain of command of a borrower in an effort to collect the loan.
3. If a borrower is a member of the military and is deployed to a combat or combat supporting position, a licensee shall not engage in any collection activity against the borrower or his or her spouse.
4. As used in this section, "military" means the Armed Forces of the United States, a reserve component thereof or the National Guard.
(Added to NRS by 2007, 2858)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.298 - Printing and storing of physical records at remote location prohibited; representing to person that employee is working at remote location prohibited; exception.

1. An employee who engages in the business of lending in this State at a remote location shall not print or store physical records containing any data of the licensee at the remote location.
2. Except as otherwise provided in subsection 3, an employee who engages in the business of lending in this State at a remote location or the licensee who employs such an employee shall not represent in any manner to a borrower, potential borrower or any other person that the employee is working at a remote location, including, without limitation, by:
(a) Advertising in any form the address of the remote location where the employee works or a personal telephone number or facsimile number associated with the remote location;
(b) Meeting a borrower or potential borrower at, or inviting a borrower or potential borrower to, the remote location; or
(c) Directly or indirectly suggesting or holding out in any manner that the address of the remote location is the address of the place of business of the licensee, including, without limitation, by receiving mail intended for the licensee at the remote location or storing physical records of the licensee at the remote location.
3. An employee may respond to an inquiry concerning his or her location by stating that he or she is working remotely or working at a remote location.
4. As used in this section, "place of business" has the meaning ascribed to it in NRS 675.2965.
(Added to NRS by 2023, 3474)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.299 - Review and evaluation of operations required at least annually.

A licensee who authorizes any employee to engage in the business of lending in this State at a remote location shall, at least once each year, conduct a review and evaluation of the operations of the licensee which are conducted by employees working at remote locations to determine whether such operations comply with the provisions of NRS 675.2965 to 675.299, inclusive. The Commissioner may require a licensee to conduct such a review and evaluation at such other times as the Commissioner deems necessary.
(Added to NRS by 2023, 3474)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.330 - Payment in money, credit, goods or things in action, as consideration for sale, assignment, or order of compensation, deemed loan of money; transaction subject to provisions of chapter.

The payment of money, credit, goods or things in action, as consideration for any sale, assignment or order for the payment of wages, salary, commissions or other compensation for services earned or to be earned, shall, for the purposes of regulation under this chapter, be deemed a loan of money secured by the sale, assignment or order. The amount by which the compensation so sold, assigned or ordered paid exceeds the amount of the consideration actually paid shall, for the purposes of regulation under this chapter, be deemed interest or charges on the loan from the date of the payment to the date the compensation is payable. Such a transaction is subject to the provisions of this chapter.
(Added to NRS by 1959, 235; A 1971, 1371; 1973, 1520; 1987, 179)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.350 - Prohibited practices by licensees.

No licensee may:
1. Take any confession of judgment or any power of attorney running to himself or herself or to any third person to confess judgment or to appear for the borrower in a judicial proceeding.
2. Take any note or promise to pay which does not disclose the date and amount of the loan obligation, a schedule or description of the payments to be made thereon and the rate or aggregate amount of the agreed charges.
3. Take any instrument in which blanks are left to be filled in after the loan is made.
4. Take a lien upon real property as security for any loan made under this chapter except real property upon which is situated a mobile home or factory-built housing that also secures the loan, and except such lien as is created by law through the rendition or recording of a judgment.
(Added to NRS by 1959, 235; A 1959, 783; 1979, 829; 1991, 884)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.360 - Duties of licensee.

Every licensee shall:
1. Deliver to the borrower, or if more than one, to one of them, at the time of making a loan under this chapter a copy of the loan obligation or, in lieu thereof, a statement showing in clear and distinct terms the date of the loan, the amount of the obligation, the date of its maturity, if there is one, the nature of the security, if any, for the loan, the name and address of the borrower and of the licensee, and the description or schedule of payments on that loan.
2. Except as otherwise provided for loans for an indefinite term in NRS 675.369, give to the person making any cash payment on account of any loan a receipt at the time that payment is made, showing the balance due, if any, after application of that payment. A receipt showing the amount of the payment only may be given temporarily and must be replaced within a reasonable time with a receipt as prescribed in this subsection.
3. Permit payment in advance in an amount equal to one or more full installments at any time during the regular business hours of the licensee.
4. Upon repayment of a loan in full, mark plainly every note or other evidence of the indebtedness or assignment signed by any obligor, or a copy thereof, with the word "paid" or "cancelled," and release or provide the borrower evidence to release any mortgage or security instrument no longer securing any indebtedness to the licensee.
(Added to NRS by 1959, 235; A 1985, 1679; 1995, 137)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.361 - Terms of written agreement.

A licensee may make a loan for an indefinite term under a written agreement between the licensee and the borrower. Pursuant to this agreement:
1. The borrower may obtain cash advances from the licensee periodically by a check, draft, credit card or any other means or the licensee may pay out money at the borrower’s direction or on his or her behalf;
2. An open-end account must be established for the borrower and the amount of each cash advance made to the borrower and any interest, charges and other costs must be debited to that account and any payments on the loan or other credits must be credited to that account;
3. The interest and other charges must be computed periodically on the unpaid balance in the borrower’s account; and
4. The borrower may pay his or her account in full at any time without a penalty for prepayment, or if the account is not in default, in monthly installments of fixed or determinable amounts as provided in the agreement.
(Added to NRS by 1985, 1677)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.363 - Calculation of interest; billing cycle.

1. Under an agreement for a loan for an indefinite term, the licensee may receive interest in any amount or at any annual rate provided in the agreement. This interest must be calculated for each billing cycle in either of the following ways:
(a) By multiplying the daily rate by the daily unpaid balance in the account. The daily rate is determined by dividing the annual rate of interest fixed by the agreement by 365. The daily unpaid balance is determined by adding to any balance remaining unpaid as of the beginning of each day any advances and any appropriate charges, including interest, and by deducting therefrom any payments or other credits made or received on that day.
(b) By multiplying the monthly rate by the average unpaid daily balance in the account for that billing cycle. The monthly rate is determined by dividing the annual rate of interest by 12. The average unpaid daily balance is determined by dividing the sum of all of the daily unpaid balances during the billing cycle by the number of days in the cycle.
2. Unless otherwise provided in the agreement, the billing cycle must be monthly. A billing cycle is monthly if the closing date of the cycle is the same date each month or does not vary by more than 4 days from that date.
(Added to NRS by 1985, 1677)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.365 - Fees and charges.

In addition to the interest allowed pursuant to NRS 675.363, a licensee may, pursuant to the agreement for a loan for an indefinite term, receive from the borrower or add to the unpaid balance in that borrower’s account:
1. Any fees imposed on the licensee pursuant to this chapter;
2. Any charge for insurance under NRS 675.300;
3. A charge not exceeding 25 cents for each transaction in which a loan or advance is made pursuant to the agreement or an annual fee for the use of an open-end account in an amount not to exceed $20;
4. If the interest calculated for any billing cycle pursuant to NRS 675.363 is less than 50 cents:
(a) For a billing cycle which is monthly or longer, a charge in an amount not exceeding 50 cents; or
(b) For a billing cycle less than monthly, a charge in an amount equal to that portion of 50 cents which bears the same relation to 50 cents as the number of days in the billing cycle bear to 365 divided by 12;
5. For any check written by the borrower to the licensee which is returned, or any electronic transfer of money that fails, because of insufficient funds, a charge of $10 or in an amount equal to the charges imposed on the licensee because of his or her reliance on that check or electronic transfer of money, whichever amount is greater; and
6. Any charge assessed the licensee by a third party for the printing and distribution of any checks, drafts or other instruments to be used by the borrower in obtaining advances pursuant to the agreement.
(Added to NRS by 1985, 1678; A 1987, 1516; 2007, 946)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.367 - Borrower must be given description of rate and computation of interest; notice of increase in rate of interest or change in terms.

1. In addition to the information required in subsection 1 of NRS 675.360, a borrower under an agreement for a loan for an indefinite term must be given a description of the agreed annual interest rate, stated as a percentage, the conditions under which interest will be charged and the method used to compute the interest for each billing cycle.
2. The licensee shall notify a borrower of any increase in the rate of interest to be charged or any other change in the terms of the agreement for a loan for an indefinite term:
(a) No later than the date of the first billing after the effective date of the change, if the change in the rate of interest is pursuant to an agreement for the loan which is signed by the borrower and specifies the formula for computation of the adjustment in the rate; or
(b) At least 30 days before the change is to take place for all other loans for an indefinite term.
The change applies only to a debt incurred by the borrower after the effective date of the change, unless otherwise agreed by the borrower. In determining the balance to which an increase in the rate of interest applies, any payment received or other credit made to the borrower’s account applies to the balance existing before the date of that increase until that balance is paid in full.
(Added to NRS by 1985, 1678; A 1987, 1516)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.369 - Written statement to borrower; copy of draft or order for payment.

1. If the account of a borrower on a loan for an indefinite term shows a balance due or if any debits or credits were entered on that account during a billing cycle, the licensee shall furnish to the borrower, within a reasonable time after the end of the billing cycle, a written statement setting forth:
(a) The unpaid balance in his or her account at the beginning of the billing cycle;
(b) The date and amount of any loans or advances made on the account during the billing cycle;
(c) Any payments or other credits made or received on the account during the billing cycle;
(d) The amount of interest and other charges, if any, made on the account during the billing cycle;
(e) The amount of the installment due and the date on which that payment must be received; and
(f) The total amount remaining unpaid in the account at the end of that billing cycle.
2. The licensee shall also, upon written request of the borrower, furnish to the borrower a copy of any draft or order for payment received on the account of the borrower during the billing cycle.
(Added to NRS by 1985, 1678; A 1989, 1065)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.3693 - Limitation on annual percentage rate.

A licensee who makes a loan under this chapter that constitutes consumer credit to a covered service member or his or her dependent shall not charge the covered service member or dependent an annual percentage rate with respect to the loan except as:
1. Agreed to under the terms of the loan agreement;
2. Authorized by applicable state and federal law; and
3. Not specifically prohibited by NRS 99.050, 675.3695 and 675.3697.
(Added to NRS by 2019, 950)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.3695 - Information required to be provided by licensee.

1. Before making a loan under this chapter that constitutes consumer credit to a covered service member or a dependent of a covered service member, a licensee shall provide the following information to the covered service member or the dependent of a covered service member, as applicable, both orally and in writing:
(a) A statement of the annual percentage rate applicable to the loan;
(b) Any disclosures required by the provisions of the Truth in Lending Act and any regulations adopted pursuant thereto; and
(c) A clear description of the payment obligations of the covered service member or dependent, as applicable.
2. A licensee shall present the disclosures required by subsection 1 in accordance with the provisions of Regulation Z.
3. As used in this section:
(a) "Regulation Z" has the meaning ascribed to it in NRS 604A.090.
(b) "Truth in Lending Act" has the meaning ascribed to it in NRS 604A.120.
(Added to NRS by 2019, 950)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.3697 - Prohibited practices by licensee.

A licensee shall not make a loan under this chapter that constitutes consumer credit to a covered service member or a dependent of a covered service member with respect to which:
1. The borrower is required to waive the borrower’s right to legal recourse under any otherwise applicable provision of state or federal law, including, without limitation, any provision of the Servicemembers Civil Relief Act, 50 U.S.C. §§ 3901 et seq.;
2. The licensee imposes onerous legal notice provisions in the case of a dispute or demands unreasonable notice from the borrower as a condition for legal action;
3. The licensee uses a check or other method of access to a deposit, savings or other financial account maintained by the borrower, or the title of a vehicle as security for the obligation;
4. The licensee requires as a condition for the extension of consumer credit that the borrower establish an allotment to repay an obligation; or
5. The borrower is prohibited from prepaying the loan or is charged a penalty or fee for prepaying all or part of the loan.
(Added to NRS by 2019, 950)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.380 - Authority of Commissioner to investigate business; free access required.

1. For the purpose of discovering violations of this chapter or of securing information lawfully required under this chapter, the Commissioner or his or her duly authorized representatives may at any time investigate the business and examine the books, accounts, papers and records used therein of:
(a) Any licensee;
(b) Any other person engaged in the business described in NRS 675.060 or participating in such business as principal, agent, broker or otherwise;
(c) Any registered agent who represents a licensee or any other person engaged in the business described in NRS 675.060; and
(d) Any person who the Commissioner has reasonable cause to believe is violating or is about to violate any provision of this chapter, whether or not the person claims to be within the authority or beyond the scope of this chapter.
2. For the purpose of examination the Commissioner or his or her authorized representatives shall have and be given free access to the offices and places of business, files, safes and vaults of such persons.
3. The investigation of a registered agent pursuant to subsection 1, including, without limitation, any book, accounts, papers and records used therein must be kept confidential except to the extent necessary to enforce any provision of this chapter.
4. For the purposes of this section, any person who advertises for, solicits or holds himself or herself out as willing to make loan transactions is presumed to be engaged in the business described in NRS 675.060.
5. This section does not entitle the Commissioner or the authorized representatives of the Commissioner to investigate the business or examine the books, accounts, papers and records of any attorney who is not a person described in paragraph (a), (b) or (d) of subsection 1, other than examination of those books, accounts, papers and records maintained by such attorney in his or her capacity as a registered agent, and then only to the extent such books, accounts, papers and records are not subject to any privilege in NRS 49.035 to 49.115, inclusive.
(Added to NRS by 1959, 236; A 1971, 1371; 1973, 1520; 1983, 1809; 1987, 179, 1990; 2007, 2726; 2009, 1731)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.390 - Authority of Commissioner to require attendance of witnesses and production of documents.

The Commissioner may require the attendance of any person and examine him or her under oath relative to loans or business regulated by this chapter or to the subject matter of any examination, investigation or hearing, and may require the production of books, accounts, papers and records.
(Added to NRS by 1959, 236; A 1983, 1810; 1987, 1991)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.400 - Commissioner to examine licensee’s business annually; fee.

1. At least once each year, the Commissioner or his or her authorized representatives shall make an examination of the place of business of each licensee and of the loans, transactions, books, accounts, papers and records of the licensee so far as they pertain to the business licensed under this chapter.
2. The Commissioner shall charge and collect from each licensee a fee at the rate established and, if applicable, adjusted pursuant to NRS 658.101 for the cost of any supervision, audit, examination, investigation or hearing conducted pursuant to this chapter or any regulations adopted pursuant thereto.
3. All money collected by the Commissioner pursuant to subsection 2 must be deposited in the State Treasury pursuant to the provisions of NRS 658.091.
(Added to NRS by 1959, 236; A 1967, 977; 1979, 956; 1983, 1810; 1987, 1991, 2226; 2003, 3234; 2017, 400)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.410 - Temporary suspension of license: Conditions; notice; hearing; term of suspension.

If the Commissioner finds that probable cause for revocation of any license exists and that enforcement of this chapter requires immediate suspension of a license pending investigation, he or she may, upon 5 days’ written notice and a hearing, enter an order suspending a license for a period not exceeding 20 days, pending a hearing upon the revocation.
(Added to NRS by 1959, 236; A 1971, 1371; 1977, 96; 1983, 1810; 1987, 1991)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.420 - Surrender of license by licensee; surrender as affecting licensee’s liability.

Any licensee may surrender any license by delivering it to the Commissioner with written notice of its surrender, but a surrender does not affect his or her civil or criminal liability for acts committed prior thereto.
(Added to NRS by 1959, 236; A 1983, 1810; 1987, 1991)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.430 - Order to desist and refrain; action to enjoin violation; appointment and powers of receiver.

1. Whenever the Commissioner has reasonable cause to believe that any person is violating or is threatening to or intends to violate any provision of this chapter, he or she may, in addition to all actions provided for in this chapter and without prejudice thereto, enter an order requiring a person to desist or to refrain from such violation.
2. An action may be brought on the relation of the Attorney General and the Commissioner to enjoin a person from engaging in or continuing a violation or from doing any act or acts in furtherance thereof. In any such action, an order or judgment may be entered awarding a preliminary or final injunction as may be deemed proper.
3. In addition to all other means provided by law for the enforcement of a restraining order or injunction, the court in which an action is brought may impound, and appoint a receiver for, the property and business of the defendant, including books, papers, documents and records pertaining thereto, or so much thereof as the court may deem reasonably necessary to prevent violations of this chapter through or by means of the use of property and business, whether such books, papers, documents and records are in the possession of the defendant, a registered agent acting on behalf of the defendant or any other person. A receiver, when appointed and qualified, has such powers and duties as to custody, collection, administration, winding up and liquidation of such property and business as may from time to time be conferred upon the receiver by the court.
(Added to NRS by 1959, 236; A 1983, 1810; 1987, 1991; 2007, 2726)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.440 - Revocation or suspension of license: Grounds; notice; hearing; order.

1. If the Commissioner has reason to believe that grounds for revocation or suspension of a license exist, he or she shall give 20 days’ written notice to the licensee stating the contemplated action and, in general, the grounds therefor and set a date for a hearing.
2. At the conclusion of a hearing, the Commissioner shall:
(a) Enter a written order either dismissing the charges, revoking the license, or suspending the license for a period of not more than 60 days, which period must include any prior temporary suspension. A copy of the order must be sent by registered or certified mail to the licensee.
(b) Impose upon the licensee an administrative fine of not more than $10,000 for each violation by the licensee of any provision of this chapter or any lawful regulation adopted under it.
(c) If a fine is imposed pursuant to this section, enter such order as is necessary to recover the costs of the proceeding, including his or her investigative costs and attorney’s fees.
3. The grounds for revocation or suspension of a license are that:
(a) The licensee has failed to pay the annual license fee;
(b) The licensee, either knowingly or without any exercise of due care to prevent it, has violated any provision of this chapter or any lawful regulation adopted under it;
(c) The licensee has failed to pay a tax as required pursuant to the provisions of chapter 363A or 363C of NRS;
(d) Any fact or condition exists which would have justified the Commissioner in denying the licensee’s original application for a license hereunder; or
(e) The applicant failed to open an office for the conduct of the business authorized under this chapter within 120 days after the date the license was issued, or has failed to remain open for the conduct of the business for a period of 120 days without good cause therefor.
4. Any revocation or suspension applies only to the license granted to a person for the particular office for which grounds for revocation or suspension exist.
5. An order suspending or revoking a license becomes effective 5 days after being entered unless the order specifies otherwise or a stay is granted.
(Added to NRS by 1959, 237; A 1983, 1811; 1987, 1992; 1993, 901; 2003, 20th Special Session, 226; 2005, 1882; 2015, 2948)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.450 - Preexisting contracts unaffected by revocation, suspension, expiration or surrender of license.

No revocation, suspension, expiration or surrender of any license impairs or affects the obligation of any preexisting lawful contract between the licensee and any obligors. Such a contract and all lawful charges thereon may be collected by the licensee, its successors or assigns.
(Added to NRS by 1959, 237; A 1989, 922)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.470 - Unlicensed dealing in loans.

Any person and the several members, officers, directors, agents and employees thereof who violate or participate in the violation of any provision of NRS 675.060 are guilty of a misdemeanor.
(Added to NRS by 1959, 238; A 1967, 649; 1989, 1065)
2023 Nevada Revised Statutes › Chapter 675 - Installment Loans › NRS 675.490 - Administrative fines.

In addition to any other remedy or penalty, the Commissioner may impose an administrative fine of not more than $10,000 upon a person who, without a license, conducts any business or activity for which a license is required pursuant to the provisions of this chapter.
(Added to NRS by 2005, 1881)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.020 - Definitions.

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 676A.030 to 676A.260, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2009, 1970; A 2021, 2042)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.030 - "Affiliate" defined.

"Affiliate" means:
1. With respect to an individual:
(a) The spouse of the individual;
(b) A sibling of the individual or the spouse of a sibling;
(c) An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the individual’s spouse;
(d) An aunt, uncle, great aunt, great uncle, first cousin, niece, nephew, grandniece or grandnephew, whether related by the whole or the half blood or adoption, or the spouse of any of them; or
(e) Any other individual occupying the residence of the individual; and
2. With respect to an entity:
(a) A person that directly or indirectly controls, is controlled by or is under common control with the entity;
(b) An officer of, or an individual performing similar functions with respect to, the entity;
(c) A director of, or an individual performing similar functions with respect to, the entity;
(d) Subject to adjustment of the dollar amount pursuant to subsection 6 of NRS 676A.730, a person that receives or received more than $25,000 from the entity in either the current year or the preceding year or a person that owns more than 10 percent of, or an individual who is employed by or is a director of, a person that receives or received more than $25,000 from the entity in either the current year or the preceding year;
(e) An officer or director of, or an individual performing similar functions with respect to, a person described in paragraph (a);
(f) The spouse of, or an individual occupying the residence of, an individual described in paragraphs (a) to (e), inclusive; or
(g) An individual who has the relationship specified in paragraph (d) of subsection 1 to an individual or the spouse of an individual described in paragraphs (a) to (e), inclusive.
(Added to NRS by 2009, 1970)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.050 - "Bank" defined.

"Bank" means a financial institution, including, without limitation, a commercial bank, savings bank, savings and loan association, credit union and trust company, engaged in the business of banking, chartered under federal or state law and regulated by a federal or state banking regulatory authority.
(Added to NRS by 2009, 1971)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.070 - "Certified counselor" defined.

"Certified counselor" means an individual certified by a training program or certifying organization, approved by the Commissioner, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt-management services in which an agreement contemplates that creditors will reduce finance charges or fees for late payment, default or delinquency.
(Added to NRS by 2009, 1971)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.080 - "Certified debt specialist" defined.

"Certified debt specialist" means an individual certified by a training program or certifying organization, approved by the Commissioner, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt settlement services.
(Added to NRS by 2009, 1971)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.130 - "Debt-management plan" defined.

"Debt-management plan" means a plan which contemplates that:
1. Regular, periodic payments will be made to a provider by or on behalf of an individual to whom debt-management services are being provided; and
2. The individual’s creditors will reduce financing charges or fees for late payment, default or delinquency.
The term does not include a plan which contemplates that creditors of the individual will settle debts for less than the principal amount of the debt.
(Added to NRS by 2009, 1971)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.140 - "Debt-management services" defined.

"Debt-management services" means services as an intermediary between an individual and one or more creditors of the individual for the purpose of obtaining concessions and includes credit counseling, the development and implementation of debt-management plans and debt settlement services. The term does not include:
1. Legal services provided in an attorney-client relationship by an attorney licensed or otherwise authorized to practice law in this State;
2. Accounting services provided in an accountant-client relationship by a certified public accountant licensed to provide accounting services in this State; or
3. Financial-planning services provided in a financial planner-client relationship by a member of a financial-planning profession whose members the Commissioner, by regulation, determines are:
(a) Licensed by this State;
(b) Subject to a disciplinary mechanism;
(c) Subject to a code of professional responsibility; and
(d) Subject to a continuing education requirement.
(Added to NRS by 2009, 1971)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.150 - "Debt settlement services" defined.

"Debt settlement services" means debt-management services which contemplate that:
1. Regular, periodic payments will be made by or on behalf of the individual to whom the services are being provided;
2. The individual will accumulate such payments in a bank account which is insured by the Federal Deposit Insurance Corporation, owned by the individual and not controlled by the provider; and
3. The individual will use the accumulated amount of the payments made pursuant to subsection 1 to make payments to:
(a) The provider for any fees charged by the provider pursuant to NRS 676A.580; and
(b) Creditors in order to settle the debts of the individual for less than the principal amount of the debt.
(Added to NRS by 2009, 1972)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.180 - "Person" defined.

"Person" means an individual, corporation, business trust, estate, trust, partnership, limited-liability company, association, joint venture or any other legal or commercial entity. The term does not include a public corporation, government or governmental subdivision, agency or instrumentality.
(Added to NRS by 2009, 1972)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.190 - "Plan" defined.

"Plan" means a program or strategy in which a provider furnishes debt-management services to an individual and which includes a schedule of payments to be made by or on behalf of the individual and used to pay debts owed by the individual.
(Added to NRS by 2009, 1972)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.240 - "Sign" defined.

"Sign" means, with present intent to authenticate or adopt a record:
1. To execute or adopt a tangible symbol; or
2. To attach to or logically associate with the record an electronic sound, symbol or process.
(Added to NRS by 2009, 1972)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.260 - "Trust account" defined.

"Trust account" means an account held by a provider that is:
1. Established in an insured bank;
2. Separate from other accounts of the provider or its designee;
3. Designated as a trust account or other account designated to indicate that the money in the account is not the money of the provider or its designee; and
4. Used to hold money of one or more individuals for disbursement to creditors of the individuals.
(Added to NRS by 2009, 1973)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.270 - Applicability.

1. This chapter does not apply to an agreement with an individual who the provider has no reason to know resides in this State at the time of the agreement.
2. This chapter does not apply to a provider to the extent that the provider:
(a) Provides or agrees to provide debt-management, educational or counseling services to an individual who the provider has no reason to know resides in this State at the time the provider agrees to provide the services; or
(b) Receives no compensation for debt-management services from or on behalf of the individuals to whom it provides the services or from their creditors.
3. This chapter does not apply to the following persons or their employees when the person or the employee is engaged in the regular course of the person’s business or profession:
(a) A judicial officer, a person acting under an order of a court or an administrative agency or an assignee for the benefit of creditors;
(b) A bank;
(c) An affiliate, as defined in paragraph (a) of subsection 2 of NRS 676A.030, of a bank if the affiliate is regulated by a federal or state banking regulatory authority; or
(d) A title insurer, escrow company or other person that provides bill-paying services if the provision of debt-management services is incidental to the bill-paying services.
4. Except as otherwise required by the Director of the Department of Business and Industry pursuant to NRS 657A.430 or 657A.620, this chapter does not apply to a participant in the Regulatory Experimentation Program for Product Innovation established and administered pursuant to chapter 657A of NRS.
(Added to NRS by 2009, 1973; A 2019, 3999)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.290 - Relation to Electronic Signatures in Global and National Commerce Act.

This chapter modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. §§ 7001 et seq., but does not modify, limit or supersede section 101(c) of that act, 15 U.S.C. § 7001(c), or authorize electronic delivery of any of the notices described in section 103(b) of that act, 15 U.S.C. § 7003(b).
(Added to NRS by 2009, 1998)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.300 - Registration required.

1. Except as otherwise provided in subsection 2, a provider may not provide debt-management services to an individual who it reasonably should know resides in this State at the time it agrees to provide the services, unless the provider is registered under this chapter.
2. If a provider is registered under this chapter, subsection 1 does not apply to an employee or agent of the provider.
3. The Commissioner shall maintain and publicize a list of the names of all registered providers.
(Added to NRS by 2009, 1973)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.310 - Application for registration: Form; contents; fee; bond; evidence of insurance.

1. An application for registration as a provider must be in a form prescribed by the Commissioner.
2. Subject to adjustment of dollar amounts pursuant to subsection 6 of NRS 676A.730, an application for registration as a provider must be accompanied by:
(a) The fee established by the Commissioner;
(b) The bond required by NRS 676A.390;
(c) If the debt-management services to be provided by the provider will include the development and implementation of debt-management plans, identification of all trust accounts required by NRS 676A.570 and an irrevocable consent authorizing the Commissioner to review and examine the trust accounts;
(d) Evidence of insurance in the amount of $250,000:
(1) Against the risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant;
(2) Issued by an insurance company authorized to do business in this State and rated at least A or equivalent by a nationally recognized rating organization approved by the Commissioner;
(3) With a deductible not exceeding $5,000;
(4) Payable for the benefit of the applicant, this State and individuals who are residents of this State, as their interests may appear; and
(5) Not subject to cancellation by the applicant or the insurer until 60 days after written notice has been given to the Commissioner;
(e) Proof of compliance with NRS 360.760 to 360.796, inclusive; and
(f) If the applicant is exempt from taxation, evidence of nonprofit and tax-exempt status applicable to the applicant under the Internal Revenue Code, 26 U.S.C. § 501.
(Added to NRS by 2009, 1973)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.330 - Duty to report changes in information.

An applicant or registered provider shall notify the Commissioner within 10 days after a change in the information specified in paragraph (d) or (f) of subsection 2 of NRS 676A.310 or subsection 1, 3, 6, 12 or 13 of NRS 676A.320.
(Added to NRS by 2009, 1975)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.340 - Commissioner to make certain information available; certain information confidential.

1. Except as otherwise provided in subsection 2, the Commissioner shall make the information in an application for registration as a provider available to the public.
2. Except as otherwise provided in NRS 239.0115, the information required by subsections 7 and 16 of NRS 676A.320 and the addresses required by subsection 4 of NRS 676A.320 are confidential and not subject to inspection by the general public.
(Added to NRS by 2009, 1975; A 2021, 2043)
2023 Nevada Revised Statutes › Chapter 676A - Uniform Debt-Management Services Act › NRS 676A.350 - Issuance of certificate of registration; temporary certificate of registration; grounds for denial of registration.

1. Except as otherwise provided in subsections 3 and 4, the Commissioner shall issue a certificate of registration as a provider to a person that complies with NRS 676A.310 and 676A.320.
2. If an applicant has otherwise complied with NRS 676A.310 and 676A.320 and has made a timely effort to submit a complete set of fingerprints of each applicable person specified in NRS 676A.440, but the fingerprints have not been received, the Commissioner may issue a temporary certificate of registration. The temporary certificate expires not later than 180 days after issuance.
3. The Commissioner may deny registration if:
(a) The application contains information that is materially erroneous or incomplete;
(b) An officer, director or owner of the applicant has been convicted of a crime, or suffered a civil judgment, involving dishonesty or the violation of state or federal securities laws;
(c) The applicant or any of its officers, directors or owners have defaulted in the payment of money collected for others; or
(d) The Commissioner finds that the financial responsibility, experience, character or general fitness of the applicant or its owners, directors, employees or agents does not warrant belief that the business will be operated in compliance with this chapter.
4. The Commissioner shall deny registration if, with respect to an applicant that is organized as a nonprofit entity or has obtained tax-exempt status under the Internal Revenue Code, 26 U.S.C. § 501, the applicant’s board of directors is not independent of the applicant’s employees and agents.
5. Subject to adjustment of the dollar amount pursuant to subsection 6 of NRS 676A.730, a board of directors is not independent for purposes of subsection 4 if more than one-fourth of its members:
(a) Are affiliates of the applicant, as defined in subsection 1 of NRS 676A.030 or paragraph (a), (b), (d), (e), (f) or (g) of subsection 2 of NRS 676A.030; or
(b) After the date 10 years before first becoming a director of the applicant, were employed by or directors of a person that received from the applicant more than $25,000 in either the current year or the preceding year.
(Added to NRS by 2009, 1976; A 2021, 2043)