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2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.510 - Additional materials to be submitted with application; grounds for denial of license.

1. In addition to any other requirements set forth in this chapter, each applicant must submit proof satisfactory to the Commissioner that the applicant:
(a) Has a good reputation for honesty, trustworthiness and integrity and is competent to transact the business for which the applicant seeks to be licensed in a manner which protects the interests of the general public.
(b) Has not made a false statement of material fact on the application for the license.
(c) Has not committed any of the acts specified in subsection 2.
(d) Has not had a license issued pursuant to this chapter suspended or revoked within the 10 years immediately preceding the date of the application.
(e) Has not been convicted of, or entered a plea of nolo contendere to, a felony or any crime involving fraud, misrepresentation or moral turpitude.
(f) If the applicant is a natural person:
(1) Is at least 21 years of age; and
(2) Is a citizen of the United States or lawfully entitled to remain and work in the United States.
2. In addition to any other lawful reasons, the Commissioner may refuse to issue a license to an applicant if the applicant:
(a) Has committed or participated in any act for which, if committed or done by a holder of a license, would be grounds for the suspension or revocation of the license.
(b) Has previously been refused a license pursuant to this chapter or has had such a license suspended or revoked.
(c) Has participated in any act which was a basis for the denial or revocation of a license pursuant to this chapter.
(d) Has falsified any of the information submitted to the Commissioner in support of the application for a license.
(Added to NRS by 2019, 2407; A 2021, 2053)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.520 - Statement concerning obligation for child support required for issuance or renewal of license. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

1. In addition to any other requirements, a natural person who applies for a license pursuant to this chapter shall:
(a) Include the social security number of the applicant in the application submitted to the Commissioner; and
(b) Submit to the Commissioner the statement prescribed by the Division of Welfare and Supportive Services of the Department of Health and Human Services pursuant to NRS 425.520. The statement must be completed and signed by the applicant.
2. The Commissioner shall include the statement required pursuant to subsection 1 in:
(a) The application or any other forms that must be submitted for the issuance or renewal of the license; or
(b) A separate form prescribed by the Commissioner.
3. A license as a consumer litigation funding company may not be issued or renewed by the Commissioner if the applicant:
(a) Fails to submit the statement required pursuant to subsection 1; or
(b) Indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.
4. If an applicant indicates on the statement submitted pursuant to subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the Commissioner shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.
(Added to NRS by 2019, 2408)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.530 - Suspension of license; reinstatement of license. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

1. If the Commissioner receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is licensed as a consumer litigation funding company, the Commissioner shall deem the license issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Commissioner receives a letter issued to the licensee by the district attorney or other public agency pursuant to NRS 425.550 stating that the licensee has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
2. The Commissioner shall reinstate the license of a licensee that has been suspended by a district court pursuant to NRS 425.540 if the Commissioner receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose license was suspended stating that the person whose license was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
(Added to NRS by 2019, 2409)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.550 - Investigation of applicant; notice; hearing; order; request hearing; regulations.

1. Upon the filing of the application and the payment of the fees, the Commissioner shall investigate the facts concerning the application and the requirements provided for in this chapter.
2. The Commissioner may hold a hearing on the application at a time not less than 30 days after the application was filed or not more than 60 days after that date. The hearing must be held in the Office of the Commissioner or such other place as the Commissioner may designate. Notice in writing of the hearing must be sent to the applicant and to any licensee to which a notice of the application has been given and to such other person as the Commissioner may see fit, at least 10 days before the date set for the hearing.
3. The Commissioner shall make his or her order granting or denying the application within 10 days after the date of the closing of the hearing, unless the period is extended by written agreement between the applicant and the Commissioner.
4. An applicant is entitled to a hearing on the question of the qualifications of the applicant for licensure upon written request to the Commissioner if:
(a) The Commissioner has notified the applicant in writing that the application has been denied; or
(b) The Commissioner has not issued a license within 60 days after the application for a license was filed.
5. A request for a hearing may not be made more than 15 days after the Commissioner has mailed a written notice to the applicant that the application has been denied and stating in substance the findings of the Commissioner supporting the denial of the application.
6. The Commissioner may adopt regulations to carry out the provisions of this section.
(Added to NRS by 2019, 2410)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.560 - Issuance of license.

If the Commissioner finds:
1. That the financial responsibility, experience, character and general fitness of the applicant are such as to command the confidence of the public and to warrant belief that the business will be operated lawfully, honestly, fairly and efficiently, within the purposes of this chapter;
2. That the applicant has complied with the provisions of this chapter; and
3. That the applicant has available for the operation of the business liquid assets of at least $50,000,
he or she shall thereupon enter an order granting the application, and file his or her findings of fact together with the transcript of any hearing held under this chapter, and forthwith issue and deliver a license to the applicant.
(Added to NRS by 2019, 2410)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.565 - Expiration of license; procedure for renewal; cancellation and reinstatement.

1. A license issued pursuant to the provisions of this chapter expires on December 31 of each year, unless it is renewed. To renew such a license, the licensee must submit to the Commissioner on or after November 1 and on or before December 31 of each year:
(a) An application for renewal; and
(b) The annual license fee.
2. If a licensee fails to submit any item required pursuant to subsection 1 to the Commissioner on or after November 1 and on or before December 31 of any year, the license is cancelled as of December 31 of that year. The Commissioner may reinstate a cancelled license if the licensee submits to the Commissioner on or before February 28 of the following year:
(a) An application for renewal; and
(b) The annual license fee.
(Added to NRS by 2021, 2052)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.570 - Change of address by licensee: Notice; approval by Commissioner; penalty for failure to provide required notice.

1. A licensee who wishes to change the address of an office or other place of business for which he or she has a license pursuant to the provisions of this chapter must, at least 10 days before changing the address, give written notice of the proposed change to the Commissioner.
2. Upon receipt of the proposed change of address pursuant to subsection 1, the Commissioner shall provide written approval of the change and the date of the approval.
3. If a licensee fails to provide notice as required pursuant to subsection 1, the Commissioner may impose a fine in an amount not to exceed $1,000.
(Added to NRS by 2019, 2411)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.583 - Commissioner authorized to take action to participate in Registry; charges for use; regulations; provisions do not affect authority of Commissioner regarding licensing.

1. The Commissioner may, in furtherance of his or her duties with respect to the issuance and renewal of licenses pursuant to this chapter, participate in the Nationwide Multistate Licensing System and Registry. The Commissioner may take any action with respect to participation in the Registry that the Commissioner deems necessary to carry out his or her duties, including, without limitation:
(a) Facilitating and participating in the establishment and implementation of the Registry;
(b) Establishing relationships or contracts with the Registry or other entities designated by the Registry;
(c) Authorizing the Registry to collect and maintain records of applicants for and holders of licenses;
(d) Authorizing the Registry to, on behalf of the Commissioner, collect and process any fees associated with licensure, examinations, fines, assessments and any other similar fees;
(e) Requiring an applicant or licensee to use the Registry to:
(1) Apply for the issuance or renewal of a license;
(2) Amend or surrender a license;
(3) Submit any reports or the results of any examination that the Commissioner may require;
(4) Pay any applicable fees; and
(5) Engage in any other activity that the Commissioner may require; and
(f) Authorizing the Registry to, on behalf of the Commissioner, collect fingerprints in order to receive or conduct a background check on the criminal history of an applicant or licensee.
2. An applicant or licensee shall, in addition to any other fees associated with the license, pay all applicable charges to use the Registry, including, without limitation, any processing charges established by the administrator of the Registry.
3. The Commissioner may adopt any regulations the Commissioner determines to be necessary or appropriate to carry out this section. Such regulations may, without limitation, establish additional procedures and requirements for participation in the Registry.
4. The provisions of this section shall not be construed to replace or affect the authority of the Commissioner to grant, deny, suspend, terminate, revoke or refuse to renew a license.
(Added to NRS by 2021, 2050)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.586 - Submission and processing of fingerprints.

1. The Commissioner may require an applicant or 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 or licensee.
(Added to NRS by 2021, 2051)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.589 - 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 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, 2051)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.592 - Additional materials to be submitted to Registry.

1. In addition to any other requirements set forth by specific statute, each applicant 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, 2051)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.595 - 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, 2052)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.600 - 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 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 an office or other place of business outside this State 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.
(Added to NRS by 2019, 2411)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.610 - Annual examinations by Commissioner; fees for examination.

1. At least once each year, the Commissioner or his or her authorized representative shall make an examination of the place of business of each licensee and of the transactions, books, papers and records of each licensee that pertain to the business licensed under this chapter.
2. For each examination conducted pursuant to subsection 1, the Commissioner shall charge and collect from the licensee a fee for conducting the examination and preparing and typing the report of the examination at the rate established and, if applicable, adjusted pursuant to NRS 658.101.
(Added to NRS by 2019, 2412)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.640 - Annual report by licensee; composite reports; Commissioner may require additional reports.

1. On or before January 31 of each year, a licensee shall submit a report to the Commissioner and the Registry containing:
(a) The number of consumer litigation funding transactions in which the company engaged in this State for the immediately preceding year;
(b) A summation of the total funded amount of the consumer litigation funding transactions in which the company engaged in this State for the immediately preceding year, expressed in dollars; and
(c) The annual percentage charged to each consumer when repayment was made.
2. If a licensee operated more than one office or provides consumer litigation funding to persons outside of the State, the licensee shall submit a composite report of all consumer litigation funding transactions in which the company engaged for the immediately preceding year.
3. The Commissioner shall make the information contained in the report available to the public upon request in a manner which maintains the confidentiality of the name of each company and consumer.
4. The Commissioner may require a licensee to file more frequent reports as the Commissioner determines necessary.
(Added to NRS by 2019, 2412; A 2021, 2054)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.800 - Remedies for certain willful violations.

1. Except as otherwise provided in this section, if a licensee willfully:
(a) Enters into a consumer litigation funding contract 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 consumer litigation funding contract 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 consumer litigation funding transaction.
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 2019, 2414)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.810 - Commissioner to enforce chapter; penalties.

1. The Commissioner may enforce this chapter and regulations adopted pursuant thereto by taking one or more of the following actions:
(a) Ordering a licensee or a director, employee or other agent of a licensee to cease and desist from any violations;
(b) Ordering a licensee or a director, employee or other agent of a licensee who has caused a violation to correct the violation, including, without limitation, making restitution of money to a person aggrieved by a violation;
(c) Imposing on a licensee or a director, employee or other agent of a licensee who has caused a violation a civil penalty not to exceed $5,000 for each violation; or
(d) Suspending or revoking the license of a licensee in accordance with NRS 604C.830.
2. If a person violates or knowingly authorizes, directs or aids in the violation of a final order issued pursuant to paragraph (a) or (b) of subsection 1, the Commissioner may impose a civil penalty not to exceed $10,000 for each violation.
3. The Commissioner may maintain an action to enforce this chapter in any county in this State.
4. The Commissioner may recover the reasonable costs of enforcing subsections 1, 2 and 3, including, without limitation, attorney’s fees, based on the hours reasonably expended and the hourly rates for attorneys of comparable experience in the community.
5. In determining the amount of a civil penalty imposed pursuant to subsection 1 or 2, the Commissioner shall consider the seriousness of the violation, the good faith of the violator, any previous violations by the violator and any other factor the Commissioner considers relevant to the determination of a civil penalty.
(Added to NRS by 2019, 2412)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.820 - Person may file complaint alleging violation; requirements; duties of Commissioner when complaint is filed.

1. A consumer, an attorney for a consumer or any other person who believes that any provision of this chapter has been violated may file a complaint with the Commissioner. Such a complaint must include:
(a) The full name and address of the person filing the complaint;
(b) A clear and concise statement of facts sufficient to establish that the alleged violation occurred, including, without limitation, the date, time and place of the alleged violation and the name of each person involved in the alleged violation; and
(c) A certification by the person filing the complaint that the facts alleged in the complaint are true to the best knowledge and belief of the person.
2. Upon the receipt of a complaint filed pursuant to subsection 1, the Commissioner may investigate and conduct hearings concerning the complaint.
(Added to NRS by 2019, 2414)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.830 - Suspension or revocation of license by Commissioner.

1. The Commissioner may suspend or revoke a license if:
(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 an applicable tax, fee or assessment; or
(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.
2. 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.
3. 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.
4. Unless otherwise provided in an order, the order for the revocation or suspension of a license applies only to the license granted to a person for the particular location for which grounds for revocation or suspension exist.
5. A licensee upon whom a fine has been imposed or whose license was suspended or revoked pursuant to this section is entitled to judicial review of the decision in the manner provided by chapter 233B of NRS.
(Added to NRS by 2019, 2413)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.840 - Administrative fines.

1. 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.
2. The Commissioner shall afford to any person fined pursuant to subsection 1 reasonable notice and an opportunity for a hearing pursuant to the provisions of NRS 233B.121.
3. A person fined by the Commissioner pursuant to subsection 1 is entitled to judicial review of the decision of the Commissioner in the manner provided by chapter 233B of NRS.
(Added to NRS by 2019, 2413)
2023 Nevada Revised Statutes › Chapter 604C - Consumer Litigation Funding › NRS 604C.850 - Contract void if deceptive and abusive violation.

1. If a court of competent jurisdiction determines that a consumer litigation funding company has willfully committed a deceptive and abusive violation of this chapter with regard to a specific consumer litigation funding transaction, the contract shall be void.
2. Nothing in this chapter shall be construed to restrict the exercise of powers or the performance of the duties of the Attorney General which he or she is authorized to exercise or perform by law.
(Added to NRS by 2019, 2406)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.010 - Definitions. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 604D.020 to 604D.170, inclusive, have the meanings ascribed to them in those sections.
(Added to NRS by 2023, 2395, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.030 - "Direct-to-consumer earned wage access provider" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

"Direct-to-consumer earned wage access provider" means a person who is engaged in the business of providing direct-to-consumer earned wage access services.
(Added to NRS by 2023, 2395, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.040 - "Direct-to-consumer earned wage access services" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

"Direct-to-consumer earned wage access services" means the delivery to a user of an advance of earned but unpaid income based on data that is not employment, income or attendance data obtained directly from an employer or an employer’s payroll service provider.
(Added to NRS by 2023, 2395, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.050 - "Earned but unpaid income" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

1. "Earned but unpaid income" means salary, wages, compensation or other income that:
(a) A user or employer has represented, and a provider has reasonably determined to have been, earned or accrued to the benefit of the user in exchange for the user’s provision of services to the employer or on behalf of the employer; and
(b) Has not been paid to the user by the employer at the time a provider delivers the payment of the proceeds to a user.
2. The term includes, without limitation, salary, wages, compensation or other income earned:
(a) On an hourly, project-based, piecework or other basis.
(b) Through services rendered as an independent contractor.
(Added to NRS by 2023, 2395, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.060 - "Earned wage access services" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

1. "Earned wage access services" means the delivery to a user of money that represents earned but unpaid income.
2. The term includes both employer-integrated earned wage access services and direct-to-consumer earned wage access services.
(Added to NRS by 2023, 2395, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.070 - "Employer" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

1. "Employer" means:
(a) A person who employs a user; or
(b) Any other person who is contractually obligated to pay a user any earned but unpaid income.
2. The term does not include:
(a) A customer of an employer; or
(b) Any other person whose obligation to make a payment of salary, wages, compensation or other income to a user is not based on the provision of services by that user for or on behalf of such person.
(Added to NRS by 2023, 2395, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.080 - "Employer-integrated earned wage access provider" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

1. "Employer-integrated earned wage access provider" means a person who is engaged in the business of offering to provide or providing employer-integrated earned wage access services.
2. The term does not include payroll service providers, including, without limitation, payroll service providers whose role may include verifying the available earnings but who are not contractually obligated to fund earned wage access service proceeds to a user.
(Added to NRS by 2023, 2395, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.090 - "Employer-integrated earned wage access services" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

"Employer-integrated earned wage access services" means the delivery to a user of access to earned but unpaid income determined based on employment, income or attendance data obtained directly or indirectly from an employer, including, without limitation, an employer’s payroll service provider.
(Added to NRS by 2023, 2396, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.100 - "Fee" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

1. "Fee" includes:
(a) A fee imposed by a provider for delivery or expedited delivery of proceeds to a user; and
(b) A subscription or membership fee imposed by a provider for a bona fide group of services that include earned wage access services.
2. The term does not include a voluntary tip, gratuity or donation.
(Added to NRS by 2023, 2396, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.110 - "Licensee" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

"Licensee" means a person who has been issued one or more licenses to engage in the business of:
1. An employer-integrated earned wage access provider; or
2. A direct-to-consumer earned wage access service provider.
(Added to NRS by 2023, 2396, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.120 - "Nationwide Multistate Licensing System and Registry" and "Registry" defined. [Effective on the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry has sufficient capabilities to allow the Commissioner to carry out the provisions of chapter 400, Statutes of Nevada 2023, at page 2393, and expires by limitation on December 31, 2029.]

"Nationwide Multistate Licensing System and Registry" or "Registry" means a multistate licensing system developed by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators and operated by the State Regulatory Registry, LLC, for the licensing and registration of non-depository financial service entities by participating state agencies, or any successor to the Nationwide Multistate Licensing System and Registry.
(Added to NRS by 2023, 2396, effective on the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry has sufficient capabilities to allow the Commissioner to carry out the provisions of chapter 400, Statutes of Nevada 2023, at page 2393)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.130 - "Outstanding proceeds" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

"Outstanding proceeds" means proceeds remitted to a user by a provider that have not yet been repaid to that provider.
(Added to NRS by 2023, 2396, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.140 - "Preauthorized electronic fund transfer" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

"Preauthorized electronic fund transfer" has the meaning ascribed to it in 12 C.F.R. § 1005.2(k).
(Added to NRS by 2023, 2396, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.150 - "Proceeds" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

"Proceeds" means a payment delivered to a user by a provider that is based on earned but unpaid income.
(Added to NRS by 2023, 2396, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.160 - "Provider" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

1. "Provider" means a person who is engaged in the business of providing earned wage access services, including a direct-to-consumer earned wage access provider and an employer-integrated earned wage access provider.
2. The term does not include payroll service providers, including, without limitation, payroll service providers whose role may include verifying available earners but who are not contractually obligated to fund proceeds to a user.
(Added to NRS by 2023, 2396, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.170 - "User" defined. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

"User" means a natural person residing in this State who receives earned wage access services.
(Added to NRS by 2023, 2396, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.180 - Commissioner authorized to adopt regulations. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

The Commissioner may adopt regulations for the administration and enforcement of this chapter, in addition to and not inconsistent with this chapter. Such regulations may include, without limitation, requirements relating to the retention of records by a provider.
(Added to NRS by 2023, 2407, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.190 - Construction of chapter; resolution of conflicts. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

1. Nothing in this chapter shall be construed to cause:
(a) Any earned wage access services provided by a licensee in compliance with this chapter to be deemed:
(1) A loan or other form of credit;
(2) As violating or noncompliant with the laws of this State governing the sale or assignment of, or an order of, earned but unpaid income; or
(3) A money transmission, or to be subject to any of the provisions of law governing loans or money transmitters;
(b) Any licensee in compliance with this chapter to be deemed a creditor, lender or money transmitter; and
(c) Any fee provided to a consumer by a provider in compliance of this chapter to be deemed an interest or finance charge.
2. If there is a conflict between the provisions of this chapter and any other statute, the provisions of this chapter control.
(Added to NRS by 2023, 2407, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.220 - Statement concerning obligation for child support required for issuance or renewal of license. [Effective July 1, 2024, and expires by limitation on the earlier of December 31, 2029, or the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

1. In addition to the requirements set forth in NRS 604D.200 and 604D.210, a natural person who applies for the issuance or renewal of a license as a provider shall:
(a) Include the social security number of the applicant in the application submitted to the Commissioner; and
(b) Submit to the Commissioner the statement prescribed by the Division of Welfare and Supportive Services of the Department of Health and Human Services pursuant to NRS 425.520. The statement must be completed and signed by the applicant.
2. The Commissioner shall include the statement required pursuant to paragraph (b) of subsection 1 in:
(a) The application or any other forms that must be submitted for the issuance or renewal of the license; or
(b) A separate form prescribed by the Commissioner.
3. A license as a provider may not be issued or renewed by the Commissioner if the applicant:
(a) Fails to submit the statement required pursuant to paragraph (b) of subsection 1; or
(b) Indicates on the statement submitted pursuant to paragraph (b) of subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order.
4. If an applicant indicates on the statement submitted pursuant to paragraph (b) of subsection 1 that the applicant is subject to a court order for the support of a child and is not in compliance with the order or a plan approved by the district attorney or other public agency enforcing the order for the repayment of the amount owed pursuant to the order, the Commissioner shall advise the applicant to contact the district attorney or other public agency enforcing the order to determine the actions that the applicant may take to satisfy the arrearage.
(Added to NRS by 2023, 2400, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.230 - Suspension of license; reinstatement of license. [Effective July 1, 2024, and expires by limitation on the earlier of December 31, 2029, or the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occupational and recreational licenses for child support arrearages and for noncompliance with certain processes relating to paternity or child support proceedings.]

1. If the Commissioner receives a copy of a court order issued pursuant to NRS 425.540 that provides for the suspension of all professional, occupational and recreational licenses, certificates and permits issued to a person who is the holder of a license as a provider, the Commissioner shall deem the license issued to that person to be suspended at the end of the 30th day after the date on which the court order was issued unless the Commissioner receives a letter issued to the holder of the license by the district attorney or other public agency pursuant to NRS 425.550 stating that the holder of the license has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
2. The Commissioner shall reinstate a license as a provider that has been suspended by a district court pursuant to NRS 425.540 if the Commissioner receives a letter issued by the district attorney or other public agency pursuant to NRS 425.550 to the person whose license was suspended stating that the person whose license was suspended has complied with the subpoena or warrant or has satisfied the arrearage pursuant to NRS 425.560.
(Added to NRS by 2023, 2401, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.240 - License remains effective until expiration, surrender, revocation or suspension. [Expires by limitation on December 31, 2029.]

Each license as a provider shall remain in full force and effect until it expires or is surrendered, revoked or suspended as provided in this chapter and the regulations adopted pursuant thereto.
(Added to NRS by 2023, 2402)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.250 - Bond: Amount; form; notice to Commissioner; replenishment; liability of surety. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

1. Each licensee shall have in force a surety bond payable to the State of Nevada in the amount of $35,000.
2. The bond must be in a form satisfactory to the Commissioner, issued by a bonding company authorized to do business in this State and must secure the faithful performance of the obligations of the licensee respecting the provision of earned wage access services.
3. A licensee shall, within 10 days after the commencement of any action or notice of entry of any judgment against the licensee by any creditor or claimant arising out of the business of a provider of earned wage access services in this State, give notice thereof to the Commissioner by registered or certified mail with details sufficient to identify the action or judgment. The surety shall, within 10 days after it pays any claim or judgment to a creditor or claimant, give notice thereof to the Commissioner by certified mail with details sufficient to identify the creditor or claimant and the claim or judgment so paid.
4. Whenever the principal sum of the bond is reduced by recoveries or payments thereon, the licensee shall furnish:
(a) A new or additional bond so that the total or aggregate principal sum of the bonds equals the sum required pursuant to subsection 1; or
(b) An endorsement, duly executed by the surety, reinstating the bond to the required principal sum.
5. The liability of the surety on a bond to a creditor or claimant is not affected by any misrepresentation, breach of warranty, failure to pay a premium or other act or omission of the licensee, or by any insolvency or bankruptcy of the licensee.
6. The liability of the surety continues as to all transactions entered into in good faith by the creditors and claimants with the agents of the licensee within 30 days after:
(a) The death of the licensee or the dissolution or liquidation of the business of the licensee; or
(b) The termination of the bond,
whichever occurs first.
(Added to NRS by 2023, 2401, effective July 1, 2024)
2023 Nevada Revised Statutes › Chapter 604D - Earned Wage Access Services › NRS 604D.260 - Certain changes of licensee prohibited without prior approval of Commissioner; notice of proposed change to Commissioner; approval of Commissioner. [Effective July 1, 2024, and expires by limitation on December 31, 2029.]

1. A licensee shall not make any of the following changes unless the licensee has obtained the prior approval of the Commissioner in accordance with the provisions of this section:
(a) A change in the ownership of 25 percent or more of the capital stock or other equivalent ownership interest of the licensee;
(b) A change in control of the licensee;
(c) A change in the name of the licensee, including the name under which the licensee is doing business; or
(d) A change in the principal business address of the licensee or in the address of any office of the licensee in this State.
2. A licensee who wishes to make any change described in subsection 1 must, not less than 10 business days before the date on which the change is to occur, submit a notice to the Commissioner. Such notice must include any information that the Commissioner may require.
3. Upon receipt of a notice submitted pursuant to subsection 2, the Commissioner shall approve or disapprove the proposed change. The Commissioner may disapprove a proposed change if, in the reasonable judgment of the Commissioner, the proposed change is inconsistent with the requirements of this chapter. If the Commissioner does not respond to a licensee who submits a notice pursuant to subsection 2, including, without limitation, any request by the Commissioner for additional information from the licensee, within 10 business days of the date on which the notice was submitted, the proposed change shall be deemed approved.
4. As used in this section, "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policy of the licensee.
(Added to NRS by 2023, 2404, effective July 1, 2024)