reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.670 - Submission and processing of fingerprints.

1. The Commissioner may require an applicant for a license or a licensee to submit a complete set of fingerprints when the Commissioner determines necessary.
2. The Commissioner may use the services of the Registry to process and to submit the fingerprints to the Federal Bureau of Investigation, to the Central Repository for Nevada Records of Criminal History, to any federal or state law enforcement agency or to any other entity authorized to receive such information for the purpose of conducting a background check of the criminal history of an applicant for a license or a licensee.
(Added to NRS by 2021, 2047)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.675 - Commissioner to report information to Registry; confidentiality of information provided; Commissioner authorized to enter into certain agreements and arrangements.

1. Subject to any limitations or restrictions contained in federal or state law governing the privacy or confidentiality of records, the Commissioner shall report regularly any violations of applicable laws committed by applicants for a license or licensees, enforcement actions and other relevant information to the Registry.
2. The requirements under any federal or state law, including, without limitation, rules of a federal or state court, regarding the privacy and confidentiality of any information or material provided to the Registry and any privilege arising under federal or state law with respect to such information or material, continue to apply to such information or material after it has been disclosed to the Registry. Such information and material may be shared with federal and state regulatory officials with oversight authority over licensees without the loss of privilege or the loss of confidentiality protections provided by federal or state law.
3. The Commissioner may enter into agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the State Regulatory Registry, LLC, or other associations representing governmental agencies.
(Added to NRS by 2021, 2047)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.680 - Additional materials to be submitted to Registry.

1. In addition to any other requirements set forth by specific statute, each applicant for the issuance of a license and each owner, officer, director and responsible person of the applicant, each person in control of the applicant and any other person the Commissioner may require in accordance with guidelines of the Registry or other multistate agreements shall submit to the Registry:
(a) 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) 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 applicant continues to comply with any applicable requirements concerning financial responsibility;
(c) Information related to any administrative, civil or criminal findings made by any governmental jurisdiction concerning the person; and
(d) Any other information concerning the person that the Registry or Commissioner may require.
2. As used in this section:
(a) "Control" has the meaning ascribed to it in NRS 682A.047.
(b) "Responsible person" means a person who is employed by an applicant and who has principal, active managerial authority over the provision of services in this State.
(Added to NRS by 2021, 2048)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.685 - Licensee required to register and maintain unique identifier; Commissioner authorized to issue license through Registry; references to Commissioner deemed references to Registry.

1. Each licensee shall register with and maintain a valid unique identifier with the Registry.
2. The Commissioner may issue a license through the Registry.
3. To the extent that the Commissioner has delegated to the Registry any of his or her duties with respect to the issuance and renewal of licenses as authorized by this chapter, any reference to the Commissioner in this chapter shall be deemed to be a reference to the Registry.
4. As used in this section, "unique identifier" means a number or other identifier assigned by the protocols established by the Registry.
(Added to NRS by 2021, 2048)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.700 - Required books and records.

1. Each licensee shall keep and use in his or her business such books and accounting records as are in accord with generally accepted accounting practices.
2. Each licensee shall maintain a separate written or electronic record or ledger card for the account of each customer 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 provisions of 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 the provisions of paragraph (a) or (b) in complying with this subsection.
5. As used in this section, "amount of cash advance" means the amount of cash or its equivalent actually received by a customer or paid out at the customer’s direction or in his or her behalf.
(Added to NRS by 2005, 1705)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.710 - Investigation of businesses; examination of books and records by Commissioner.

1. For the purpose of discovering violations of this chapter or 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 of making loans 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 of making loans; 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, and the files, safes and vaults of such persons.
3. The investigation of a registered agent pursuant to subsection 1, including, without limitation, any books, 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 any deferred deposit loan, high-interest loan or title loan is presumed to be engaged in the business of making loans.
5. This section does not entitle the Commissioner or his or her authorized representatives 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 2005, 1706; A 2007, 943, 2721; 2009, 1730)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.720 - Authority of Commissioner to require attendance of witnesses and production of books and records.

1. The Commissioner may require the attendance of any person and examine him or her under oath regarding:
(a) Any check-cashing service or loan service regulated pursuant to the provisions of this chapter; or
(b) The subject matter of any audit, examination, investigation or hearing.
2. The Commissioner may require the production of books, accounts, papers and records for any audit, examination, investigation or hearing.
(Added to NRS by 2005, 1706)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.730 - Annual examinations by Commissioner; exceptions.

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 for which he or she is licensed pursuant to the provisions of this chapter.
2. If, after auditing one or more branch locations of the licensee, the Commissioner or his or her authorized representatives conclude that the loans, disclosures, loan practices, computer processes, filing systems and records are identical at each branch location, the Commissioner may make an examination of only those branch locations he or she deems necessary.
(Added to NRS by 2005, 1706)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.740 - Fees for regulatory activities; penalties for failure to pay fees.

1. 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.
2. The Commissioner shall bill each licensee upon the completion of the activity for the fee required pursuant to subsection 1. The licensee shall pay the fee within 30 days after the date the bill is received. Except as otherwise provided in this subsection, any payment received after the date due must include a penalty of 10 percent of the fee plus an additional 1 percent of the fee for each month, or portion of a month, that the fee is not paid. The Commissioner may waive the penalty for good cause.
3. The failure of a licensee to pay the fee required pursuant to subsection 1 as provided in this section constitutes grounds for revocation of the license of the licensee.
(Added to NRS by 2005, 1706; A 2005, 22nd Special Session, 100; 2017, 394)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.750 - Annual report by licensee; composite reports; Commissioner may require additional reports.

1. Annually, on or before April 15, each licensee shall file with the Commissioner and the Registry a report of operations of the licensed business for the preceding calendar year. The licensee shall make the report under oath and on a form prescribed by the Commissioner. If any person or affiliated group holds more than one license in this 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 2005, 1708; A 2021, 2050)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.760 - Fees for failure to submit reports.

1. If a licensee fails to submit any report required pursuant to this chapter or any regulation adopted pursuant thereto within the prescribed period, the Commissioner may impose and collect a fee of not more than $10 for each day the report is overdue.
2. The Commissioner shall adopt regulations establishing the amount of the fee that may be imposed pursuant to this section.
(Added to NRS by 2005, 22nd Special Session, 101)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.800 - Temporary suspension of license: Conditions; notice; hearing; terms of suspension.

If the Commissioner finds that probable cause for revocation of any license exists and that enforcement of the provisions of this chapter requires immediate suspension of a license pending investigation, the Commissioner 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 2005, 1707)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.810 - Order to desist and refrain; action to enjoin violation; appointment 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, the Commissioner may, in addition to all actions provided for in this chapter and without prejudice thereto, enter an order requiring the person to desist or to refrain from such violation.
2. The Attorney General or the Commissioner may bring an action 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 2005, 1707; A 2007, 2722)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.820 - Procedure for taking disciplinary action; authorized disciplinary action; grounds.

1. If the Commissioner has reason to believe that grounds for revocation or suspension of a license exist, the Commissioner 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. The Commissioner shall send a copy of the order to the licensee by registered or certified mail.
(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 regulation adopted pursuant thereto.
(c) If a fine is imposed pursuant to this section, enter such order as is necessary to recover the costs of the proceeding, including investigative costs and attorney’s fees of the Commissioner.
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 pursuant thereto;
(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 pursuant to the provisions of this chapter; or
(e) The licensee:
(1) Failed to open an office for the conduct of the business authorized by his or her license within 180 days after the date the license was issued; or
(2) Has failed to remain open for the conduct of the business for a period of 180 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 2005, 1707; A 2005, 22nd Special Session, 100; 2015, 2933)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.830 - Additional grounds for disciplinary action.

In addition to any other lawful reasons, the Commissioner may suspend or revoke a license if the licensee has engaged in any act that would be grounds for denying a license pursuant to this chapter.
(Added to NRS by 2005, 1707)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.840 - Surrender of license by licensee; effect of surrender.

A licensee may surrender any license issued pursuant to the provisions of this chapter by delivering it to the Commissioner with written notice of its surrender, but a surrender does not affect the licensee’s civil or criminal liability for acts committed prior thereto.
(Added to NRS by 2005, 1708)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.850 - Preexisting contracts unaffected by revocation, suspension, expiration or surrender of license.

A revocation, suspension, expiration or surrender of any license does not impair or affect the obligation of any preexisting lawful loan agreement between the licensee and any customer. Such a loan agreement and all lawful charges thereon may be collected by the licensee, its successors or assigns.
(Added to NRS by 2005, 1708)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.900 - Remedies for certain willful violations.

1. Except as otherwise provided in this section, if a licensee willfully:
(a) Enters into a loan agreement for an amount of interest or any other charge or fee that violates the provisions of this chapter or any regulation adopted pursuant thereto;
(b) Demands, collects or receives an amount of interest or any other charge or fee that violates the provisions of this chapter or any regulation adopted pursuant thereto; or
(c) Commits any other act or omission that violates the provisions of this chapter or any regulation adopted pursuant thereto,
the loan is void and the licensee is not entitled to collect, receive or retain any principal, interest or other charges or fees with respect to the loan.
2. The provisions of this section do not apply if:
(a) A licensee shows by a preponderance of the evidence that the violation was not intentional and resulted from a bona fide error of computation, notwithstanding the maintenance of procedures reasonably adapted to avoid that error; and
(b) Within 60 days after discovering the error, the licensee notifies the customer of the error and makes whatever adjustments in the account are necessary to correct the error.
(Added to NRS by 2005, 1708)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.910 - Administrative fines for unlicensed activity.

In addition to any other remedy or penalty, the Commissioner may impose an administrative fine of not more than $50,000 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, 1709; A 2005, 22nd Special Session, 101)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.920 - Other remedies for unlicensed activity.

If a person operates a check-cashing service, deferred deposit loan service, high-interest loan service or title loan service without obtaining a license pursuant to this chapter:
1. Any contracts entered into by that person for the cashing of a check or for a deferred deposit loan, high-interest loan or title loan are voidable by the other party to the contract; and
2. In addition to any other remedy or penalty, the other party to the contract may bring a civil action against the person pursuant to NRS 604A.930.
(Added to NRS by 2005, 22nd Special Session, 101; A 2007, 943)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.940 - Exercise of jurisdiction over party to civil action; service of summons to confer jurisdiction.

1. A court of this State may exercise jurisdiction over a party to a civil action arising under the provisions of this chapter on any basis not inconsistent with the Constitution of the State of Nevada or the Constitution of the United States.
2. Personal service of summons upon a party outside this State is sufficient to confer upon a court of this State jurisdiction over the party so served if the service is made by delivering a copy of the summons, together with a copy of the complaint, to the party served in the manner provided by statute or rule of court for service upon a person of like kind within this State.
3. In all cases of such service, the defendant has 40 days, exclusive of the day of service, within which to answer or plead.
4. This section provides an additional manner of serving process and does not invalidate any other service.
(Added to NRS by 2005, 1708)
2023 Nevada Revised Statutes › Chapter 604B - Refund Anticipation Loans › NRS 604B.030 - "Facilitator of a refund anticipation loan" or "facilitator" defined.

1. "Facilitator of a refund anticipation loan" or "facilitator" means a person who:
(a) Receives or accepts for delivery an application for a refund anticipation loan;
(b) Delivers a check in payment of the proceeds of a refund anticipation loan; or
(c) In any other manner, acts to allow or facilitates the offering or making of a refund anticipation loan.
2. The term includes, without limitation, a tax preparer who engages in any of the acts described in subsection 1.
3. The term does not include:
(a) A bank, thrift, savings association, industrial bank or credit union operating under the laws of the United States or this State;
(b) An affiliate, other than a tax preparer, that is a servicer for such an entity; or
(c) Any person who acts solely as an intermediary and does not deal with a customer in the making of a refund anticipation loan.
(Added to NRS by 2005, 1643)
2023 Nevada Revised Statutes › Chapter 604B - Refund Anticipation Loans › NRS 604B.060 - "Refund anticipation loan" defined.

1. "Refund anticipation loan" means a loan offered or made to a customer by a lender or through a facilitator based on the customer’s anticipated federal income tax refund.
2. The term includes, without limitation, a refund anticipation loan offered or made using electronic commerce.
(Added to NRS by 2005, 1643)
2023 Nevada Revised Statutes › Chapter 604B - Refund Anticipation Loans › NRS 604B.070 - "Refund anticipation loan fee" defined.

1. "Refund anticipation loan fee" means any fee, charge or other consideration imposed by a lender or a facilitator for a refund anticipation loan.
2. The term does not include any fee, charge or other consideration usually imposed by a facilitator in the ordinary course of business for nonloan services, such as fees for preparing tax returns and fees for the electronic filing of tax returns.
(Added to NRS by 2005, 1643)
2023 Nevada Revised Statutes › Chapter 604B - Refund Anticipation Loans › NRS 604B.080 - "Refund anticipation loan fee schedule" defined.

1. "Refund anticipation loan fee schedule" means a listing or table of refund anticipation loan fees charged by a lender or a facilitator for three or more representative refund anticipation loan amounts.
2. A refund anticipation loan fee schedule must:
(a) List separately each fee or charge imposed and a total of all fees and charges imposed which are related to the making of refund anticipation loans; and
(b) Include, for each representative loan amount, the estimated annual percentage rate calculated under the guidelines established by the Truth in Lending Act and Regulation Z.
(Added to NRS by 2005, 1643)
2023 Nevada Revised Statutes › Chapter 604B - Refund Anticipation Loans › NRS 604B.210 - Required disclosures.

1. If a facilitator of a refund anticipation loan offers a customer an opportunity to apply for a refund anticipation loan, the facilitator shall provide to the customer, before the customer completes the application process, the following disclosures:
(a) The refund anticipation loan fee schedule used by the facilitator; and
(b) A written statement or, if the transaction is conducted using electronic commerce, an electronic statement, in at least 10-point type, containing the following information:
(1) A disclosure that the refund anticipation loan is a loan which creates a legally enforceable debt and that the loan is not the customer’s actual tax refund;
(2) A disclosure that the customer may file a tax return electronically without applying for the refund anticipation loan;
(3) A disclosure of the average times, according to the Internal Revenue Service, within which a person who does not obtain a refund anticipation loan can expect to receive a tax refund if the person:
(I) Files a tax return electronically and the person’s tax refund is directly deposited to the person’s account or mailed to the person; or
(II) Mails a tax return to the Internal Revenue Service and the person’s tax refund is directly deposited to the person’s account or mailed to the person;
(4) A disclosure that the Internal Revenue Service does not guarantee that a person will be paid the full amount of an anticipated tax refund and does not guarantee that an anticipated tax refund will be deposited into a person’s account or mailed to a person on a specific date;
(5) A disclosure that the customer is responsible for repayment of the refund anticipation loan and related fees and charges if the anticipated tax refund is not paid or paid in full;
(6) A disclosure of the estimated time within which the proceeds of the refund anticipation loan will be paid to the customer if the loan is approved; and
(7) A disclosure of the fee or charge that will be imposed, if any, if the refund anticipation loan is not approved.
2. In addition to the disclosures required pursuant to subsection 1, the facilitator shall provide to the customer, before the loan transaction is completed, the following additional disclosures:
(a) The estimated total fees and charges for obtaining the refund anticipation loan; and
(b) The estimated annual percentage rate for the refund anticipation loan calculated under the guidelines established by the Truth in Lending Act and Regulation Z.
(Added to NRS by 2005, 1644)
2023 Nevada Revised Statutes › Chapter 604B - Refund Anticipation Loans › NRS 604B.220 - Prohibited practices by facilitator.

A facilitator of a refund anticipation loan shall not:
1. Misrepresent a material factor or condition of a refund anticipation loan;
2. Fail to process the application for a refund anticipation loan promptly after the customer applies for the loan;
3. Engage in any dishonest, fraudulent, unfair, unconscionable or unethical practice or conduct in connection with a refund anticipation loan;
4. Arrange for a lender to take a security interest in any property of the customer, other than the proceeds of the customer’s tax refund and the account into which that tax refund is deposited, to secure payment of the loan; or
5. Offer a refund anticipation loan to a customer in an amount that, when added to the refund anticipation loan fees and any other fees or charges related to the loan or the preparation of the tax return, exceeds the amount of the customer’s anticipated tax refund.
(Added to NRS by 2005, 1645)
2023 Nevada Revised Statutes › Chapter 604B - Refund Anticipation Loans › NRS 604B.910 - Remedies, penalties, duties and prohibitions in chapter not exclusive; violation constitutes deceptive trade practice.

1. The remedies, penalties, duties and prohibitions set forth in this chapter are not exclusive and are in addition to any other remedies, penalties, duties and prohibitions provided by law.
2. Any violation of this chapter constitutes a deceptive trade practice for the purposes of the civil and administrative remedies and penalties set forth in NRS 598.0903 to 598.0999, inclusive.
(Added to NRS by 2005, 1645)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.010 - Definitions.

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 604C.020 to 604C.170, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2019, 2400; A 2021, 2053)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.020 - "Advertise" defined.

"Advertise" means the commercial use of any medium, including, without limitation, radio, television, the Internet or a similar medium of communication, by a consumer litigation funding company for the purpose of inducing a consumer to enter into a consumer litigation funding transaction.
(Added to NRS by 2019, 2400)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.030 - "Applicant" defined.

"Applicant" means a person who applies to the Commissioner to obtain a license to engage in the business of a consumer litigation funding company pursuant to the provisions of this chapter. The term does not include a parent company or affiliate of such a person.
(Added to NRS by 2019, 2400)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.040 - "Charges" defined.

"Charges" means the amount of money to be paid to a consumer litigation funding company by a consumer above the funded amount provided by the consumer litigation company to the consumer. The term includes, without limitation, administrative fees, origination fees, underwriting fees or other fees, however denominated. The term does not include a document preparation fee.
(Added to NRS by 2019, 2400)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.080 - "Consumer litigation funding company" or "company" defined.

1. "Consumer litigation funding company" or "company" means a person that enters into a consumer litigation funding transaction with a consumer.
2. The term does not include:
(a) An immediate family member of a consumer;
(b) An attorney or accountant who provides services to a consumer;
(c) A medical provider that provides medical services on the basis of a lien against any potential litigation recovery;
(d) A medical factoring company; or
(e) A financial institution or similar entity:
(1) That provides financing to a consumer litigation funding company; or
(2) To which a consumer litigation funding company grants a security interest or transfers any right or interest in a consumer litigation funding transaction.
(Added to NRS by 2019, 2400)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.100 - "Consumer litigation funding transaction" defined.

"Consumer litigation funding transaction" means a nonrecourse transaction in which:
1. A consumer litigation funding company provides consumer litigation funding to a consumer in an amount that does not exceed $500,000; and
2. The consumer assigns to the company a contingent right to receive an amount of the potential proceeds of a settlement, judgment, award or verdict obtained in the legal claim of the consumer.
(Added to NRS by 2019, 2401)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.170 - "Resolution date" defined.

"Resolution date" means the date upon which:
1. A consumer, or a person on behalf of a consumer, delivers to a consumer litigation company an amount of money equivalent to the funded amount plus any agreed upon charges; or
2. The legal claim of a consumer is lost or abandoned.
(Added to NRS by 2019, 2401)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.220 - Assignment of legal claim; applicability.

1. The contingent right to receive an amount of the potential proceeds of a legal claim is assignable by a consumer.
2. Nothing in this chapter shall be construed to cause any consumer litigation funding transaction conforming to this chapter to be deemed a loan or to be subject to any of the provisions of law governing loans. A consumer litigation funding transaction that complies with this chapter is not subject to any other statutory or regulatory provisions governing loans or investment contracts. If there is a conflict between the provisions of this chapter and any other statute, the provisions of this chapter control.
3. Only a lien imposed by an attorney pursuant to NRS 18.015 that is related to the legal claim of the consumer or a lien imposed by Medicare that is related to the legal claim of a consumer takes priority over any lien imposed by a consumer litigation funding company. All other liens take priority by normal operation of law.
(Added to NRS by 2019, 2406)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.240 - Applicability of attorney-client relationship.

Any communication between the attorney of a consumer in a legal claim and a consumer litigation funding company as it pertains to a consumer litigation funding transaction is subject to the attorney-client privilege, including, without limitation, the work-product doctrine.
(Added to NRS by 2019, 2406)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.300 - Certain acts related to the operation of a consumer funding company prohibited.

1. A consumer litigation funding company shall not:
(a) Pay or offer to pay a commission, referral fee or other form of consideration to an attorney, law firm, medical provider, chiropractic physician, naprapath or physical therapist, or any employee of such a person, for referring a consumer to the company.
(b) Accept a commission, referral fee or other form of consideration from an attorney, law firm, medical provider, chiropractic physician, naprapath or physical therapist, or any employee of such a person.
(c) Intentionally advertise materially false or misleading information regarding the products or services of the consumer litigation funding company.
(d) Refer a consumer to engage a specific attorney, law firm, medical provider, chiropractic physician, naprapath or physical therapist, or any employee of such a person. A company may refer a consumer in search of legal representation to a lawyer referral service operated, sponsored or approved by the State Bar of Nevada or a local bar association.
(e) Except as otherwise provided in subsection 2, knowingly provide consumer litigation funding to a consumer who has previously assigned or sold a portion of the right of the consumer to proceeds from his or her legal claim to another company without first making payment to or purchasing the entire funded amount and charges of that company, unless a lesser amount is otherwise agreed to in writing by the consumer litigation funding companies.
(f) Receive any right to, or make, any decisions with respect to the conduct, settlement or resolution of the legal claim of a consumer.
(g) Knowingly pay or offer to pay for court costs, filing fees or attorney’s fees during or after the resolution of the legal claim of a consumer using money from a consumer litigation funding transaction.
2. Two or more consumer litigation funding companies may agree to contemporaneously provide consumer litigation funding to a consumer if the consumer and the attorney of the consumer agree to the arrangement in writing.
3. An attorney or law firm retained by the consumer in connection with his or her legal claim shall not have a financial interest in the consumer litigation funding company offering consumer litigation funding to that consumer.
4. An attorney who has referred the consumer to his or her retained attorney or law firm shall not have a financial interest in the consumer litigation funding company offering consumer litigation funding to that consumer.
5. A consumer litigation funding company shall not use any form of consumer litigation funding contract in this State unless the contract has been filed with the Commissioner in accordance with procedures for filing prescribed by the Commissioner.
(Added to NRS by 2019, 2405; A 2023, 1707)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.310 - Limitations on amount to be paid to consumer litigation funding company under consumer litigation funding contract.

1. A consumer litigation funding company shall require the amount to be paid to the company under a consumer litigation funding contract to be set as a predetermined amount based upon intervals of time from the funding date though the resolution date. The amount must not exceed the funded amount plus charges not to exceed a rate of 40 percent annually.
2. The amount to be paid to a company under a consumer litigation funding contract must not be determined as a percentage of the recovery of the legal claim of a consumer.
(Added to NRS by 2019, 2405)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.320 - License required.

1. A person shall not engage in the business of a consumer litigation funding company in this State without having first obtained a license from the Commissioner pursuant to this chapter.
2. For the purpose of this section, a person is "engaged in the business of a consumer litigation funding company" if the person:
(a) Solicits or engages in consumer litigation funding transactions in this State; or
(b) Is located in this State and solicits or engages in consumer litigation funding transactions outside of this State.
3. Any person and the several members, officers, directors, agents and employees thereof who violate or participate in the violation of this section are guilty of a misdemeanor.
(Added to NRS by 2019, 2406)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.330 - Licensee must conduct business in accordance with license.

A licensee shall not conduct the business of a consumer litigation funding company under any name or at a place other than stated in the license. Nothing in this section shall be construed to prohibit:
1. Consumer litigation funding transactions by mail; or
2. Accommodations for a consumer when necessitated by hours of employment, sickness or other emergency situations.
(Added to NRS by 2019, 2412)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.340 - Application to persons seeking to evade certain provisions.

The provisions of NRS 604C.320 shall apply to any person who seeks to evade its application by any device, subterfuge or pretense whatever, including, but not thereby limiting the generality of the foregoing:
1. The loan, forbearance, use or sale of credit (as guarantor, surety, endorser, comaker or otherwise), money, goods, or things in action.
2. The use of collateral or related sales or purchases of goods or services, or agreements to sell or purchase, whether real or pretended.
3. Receiving or charging compensation for goods or services, whether or not sold, delivered or provided.
4. The real or pretended negotiation, arrangement or procurement of a loan through any use or activity of a third person, whether real or fictitious.
(Added to NRS by 2019, 2406)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.370 - Additional required disclosures.

1. A consumer litigation funding contract must include a written disclosure, signed by the consumer that is typed in at least a 12-point font.
2. The disclosure described in subsection 1 must be separate from the consumer litigation funding contract described in NRS 604C.360.
3. The disclosure described in subsection 1 must include, without limitation:
(a) A summary of all applicable charges and fees;
(b) The full cost of the consumer litigation funding transaction, written in bold font;
(c) The full amount of the consumer litigation funding;
(d) A statement that the attorney retained by the consumer in the legal claim of the consumer is being retained on a contingency basis pursuant to a written fee agreement;
(e) A statement that the consumer is fully informed and aware that all proceeds of the legal claim of the consumer will be disbursed via the trust account of the retained attorney or a settlement fund established to receive the proceeds of the legal claim on behalf of the consumer;
(f) A statement that the retained attorney has not received and will not receive a referral fee or other consideration from the consumer litigation funding company in connection with the consumer litigation funding transaction; and
(g) An acknowledgment, signed by the consumer, that the consumer was fully informed and aware of the charges and fees and the full cost of the consumer litigation funding transaction at the time of the execution of the consumer litigation funding contract.
(Added to NRS by 2019, 2404)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.380 - Notice of cancellation of consumer litigation funding contract.

If a consumer cancels a consumer litigation funding contract pursuant to NRS 604C.350, the consumer litigation funding company shall promptly forward notice of the cancellation to the attorney or law firm retained by the consumer in the legal claim of the consumer.
(Added to NRS by 2019, 2404)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.400 - Registered agent.

A licensee who has an office or other place of business located outside of this State shall file with the Commissioner the information required pursuant to NRS 77.310 and continuously maintain a registered agent for service of legal process. Such agent must be an attorney who is licensed to practice law in this State and who has an office located in this State.
(Added to NRS by 2019, 2411)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.500 - Application for license.

1. A person who wishes to obtain a license from the Commissioner to engage in the business of a consumer litigation funding company shall submit an application to the Commissioner. The application must be made in writing, under oath and on a form prescribed by the Commissioner. The application must include:
(a) If the applicant is a natural person, the name and address of the applicant.
(b) If the applicant is a business entity, the name and address of each:
(1) Partner;
(2) Officer;
(3) Director;
(4) Manager or member who acts in a managerial capacity; and
(5) Registered agent,
of the business entity.
(c) Such other information, as the Commissioner determines necessary, concerning the financial responsibility, background, experience and activities of the applicant and its:
(1) Partners;
(2) Officers;
(3) Directors; and
(4) Managers or members who act in a managerial capacity.
(d) The address of each location at which the applicant proposes to do business under the license.
2. A person may apply for a license for an office or other place of business located outside this State from which the applicant will conduct business in this State if the applicant submits with the application for a license a statement signed by the applicant which states that the applicant agrees to:
(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 person must be allowed to choose between the provisions of paragraph (a) or (b) in complying with the provisions of this subsection.
3. The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 6 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners. If an application is deemed to be withdrawn pursuant to this subsection or if an applicant otherwise withdraws an application, the Commissioner shall not issue a license to the applicant unless the applicant submits a new application and pays any required fees.
(Added to NRS by 2019, 2407)