Nevada 2021 Regular Session Status: Enacted

SB 453 — Revises provisions relating to certain persons licensed or certified by the Division of Financial Institutions of the Department of Business and Industry or the Commissioner of Financial Institutions. (BDR 55-1095)

Last action — Approved by the Governor. Chapter 347.

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This bill has been enacted into law. Introduced May 19, 2021. Enacted.

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Bill Text

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EXEMPT S.B.
Senate Bill No.
453 S ENATE BILL NO .
453–Committee on Finance CHAPTER..........
453–COMMITTEE ON FINANCE (O NB EHALF OF THE O FFICE OFF INANCE IN THE OFFICE OF THE G OVERNOR ) M AY 19, 2021 ____________ Referred to Committee on Commerce and Labor SUMMARY—Revises provisions relating to certain persons licensed or certified by the Division of Financial Institutions of the Department of Business and Industry or the Commissioner of Financial Institutions.
(BDR 55-1095) FISCAL NOTE:
Effect on Local Government:
No.
Effect on the State:
Executive Budget.
~ EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
- *SB453* – 2 – LegExisting law provides for the licensure or certification by the Division of Financial Institutions of the Department of Business and Industry or the Commissioner of Financial Institutions of providers of deferred deposit loans, high- interest loans, title loans, check-cashing services, consumer litigation funding companies, private professional guardians, exchange facilitators, collection agencies, issuers of instruments for transmission or payment of money, providers of installment loans and providers of debt-management services.
Legislative Counsel’s Digest:
(Chapters 604A, 604C, 628B, 645G, 649, 671, 675 and 676A of NRS) This bill revises various certificates by the Commissioner or Division for the purpose of authorizing such licenses and certificates to be issued and renewed through the Nationwide Multistate Licensing System and Registry.
Existing law provides for the licensure or certification by the Division of Financial Institutions of the Department of Business and Industry or the Commissioner of Financial Institutions of providers of deferred deposit loans, high- companies, private professional guardians, exchange facilitators, collectionding agencies, issuers of instruments for transmission or payment of money, providers of installment loans and providers of debt-management services.
Section 34 of this bill defines the “Nationwide Multistate Licensing System and Registry” to mean, in general, 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.
(Chapters 604A, 604C, 628B, 645G, 649, 671, 675 and 676A of NRS) This bill revises various provisions of existing law concerning the issuance and renewal of licenses and certificates by the Commissioner or Division for the purpose of authorizing such Multistate Licensing System and Registry.d renewed through the Nationwide Section 34 of this bill defines the “Nationwide Multistate Licensing System and Registry” to mean, in general, 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 (1) authorize the Commissioner, in furtherance of his or her duties or the duties of:
Sections 2, 11, 22, 35, 46, 57, 68 and 80 of this bill:
and (2) set forth certain actions that the Commissioner is authorized to take concerning participation in the Registry, including, among others, requiring applicants for or holders of licenses and certificates to use the Registry to submit certain information and fees relating to licensure or certification.
and (2) set forth certain actions that the Commissioner is authorized to take concerning participation in the Registry, including, among others, requiring applicants for or holders of licenses and certificates to use the Registry to submit certain information and fees relating to liceSections 3, 12, 23, 36, 47, 58, 69 and 81 of this bill authorize the Commissioner to:
Sections 3, 12, 23, 36, 47, 58, 69 and 81 of this bill authorize the Commissioner to:
(1) require an applicant for licensure or certification or a licensee or certificate holder to submit a complete set of fingerprints when the Commissioner determines necessary;
(1) require an applicant for licensure or certification or a licensee or certificate holder to submit a complete set of fingerprints when the process and to submit the fingerprints to the Federal Bureau of Investigation and certain other federal and state agencies for the purposes of conducting a criminal background check.
and (2) use the services of the Registry to - 81st Session (2021) – 2 – process and to submit the fingerprints to the Federal Bureau of Investigation and certain other federal and state agencies for the purposes of conducting a criminal background check.
Sections 17, 28, 41, 53, 63, 74, 86 and 88 of this bill remove provisions of existing law requiring applicants for certain licenses or certificates to submit fingerprints to the Commissioner or the Division to conform with the requirements set forth in this bill concerning the submission of fingerprints to the Commissioner and Registry.
Sections 17, 28, 41, 53, 63, 74, 86 and 88 of this bill remove provisions of existing law requiring Commissioner or the Division to conform with the requirements set forth in this bill concerning the submission of fingerprints to the Commissioner and Registry.
Commissioner to report to the Registry certain information concerning violations of applicable laws by applicants for licenses or certificates and licensees or certificate holders;
Sections 4, 13, 24, 37, 48, 59, 70 and 82 of this bill:
(1) require the Commissioner to report to the Registry certain information concerning violations of applicable laws by applicants for licenses or certificates and licensees or certificate holders;
and (2) provide that, to the extent that the Commissioner has delegated his or her duties or the duties of the Division, as applicable, with respect to the issuance or renewal of the Commissioner or Division in provisions of existing law governing the issuanceces to or renewal of such licenses or certificates are deemed to be references to the Registry.
and (2) provide that, to the extent that the Commissioner has delegated his or her duties or the duties of the Division, as applicable, with respect to the issuance or renewal of licenses or certificates as authorized under the provisions of this bill, references to the Commissioner or Division in provisions of existing law governing the issuance or renewal of such licenses or certificates are deemed to be references to the Registry.
Sections 8, 18, 32, 42, 51, 64, 74-77, 87 and 89 of this bill provide that certain licenses and certificates expire on December 31 of each year.
licenses and certificates expire on December 31 of each year.
A person who wishes - *SB453* – 3 – to renew such a license or certificate must submit any materials and fees required for renewal on or after November 1 and on or before December 31.
A person who wishesrtain to renew such a license or certificate must submit any materials and fees required for renewal on or after November 1 and on or before December 31.
Sections 8, 18, 32, 42, 51, 64, 75 and 89 authorize the Commissioner submits any applicable materials and fees required for renewal and reinstatement onon or before February 28 of the following year.
Sections 8, 18, 32, 42, 51, 64, 75 and 89 authorize the Commissioner to reinstate certain licenses or certificates which have been cancelled if the person submits any applicable materials and fees required for renewal and reinstatement on or before February 28 of the following year.
Similarly, sections 19, 43, 54, 65 and 90 of this bill:
Similarly, sections 19, 43, 54, and 90 of this bill:
(1) require certain licensees that are required to submit Registry;
(1) require certain licensees that are required to submit certain annual reports to the Commissioner to also submit such reports to the Registry;
Section 91 of this bill requires the Commissioner to notify the Governor and the Director of the Legislative Counsel Bureau when the Commissioner determines that the Registry has sufficient capabilities to allow the Commissioner to carry out the provisions of sections 1-90 of this bill and requires the Commissioner to bill, the provisions of sections 1-90 become effective for all purposes on the dates on which the Commissioner provides such notice.
Section 91 of this bill requires the Commissioner to notify the Governor and the Director of the Legislative Counsel Bureau when the Commissioner determines the provisions of sections 1-90 of this bill and requires the Commissioner torry out publish the notice on the Internet website of the Division.
Under section 92 of this bill, the provisions of sections 1-90 become effective for all purposes on the date on which the Commissioner provides such notice.
- 81st Session (2021) – 3 – EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
(a) Facilitating and participating in the establishment and implementation of the Registry;
(a) Facilitating and participating in the establishment and imp(b) Establishing relationships or contracts with the Registry or other entities designated by the Registry;
(b) Establishing relationships or contracts with the Registry or other entities designated by the Registry;
- *SB453* – 4 – (e) Requiring an applicant for a license or a licensee to use the Registry to:
(e) Requiring an applicant for a license or a licensee to use the Registry to:
An applicant for a license or a 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.
An applicant for a license or a licensee shall, in addition to charges to use the Registry, including, without limitation, any processing charges established by the administrator of the Registry.
3.
- 81st Session (2021) – 4 – 3.
Such regulations may, without limitation, establish additional procedures and requirements for participation in the Registry.
Such regulations may, without limitation, establish additional procedures and requirements for par4.cipThe 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.
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.
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 - *SB453* – 5 – 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.
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 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.
In addition to any other requirements set forth in this chapter, each applicant for the issuance of a license pursuant to this chapter 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:
In addition to any other requirements set forth in this chapter, each applicant for the issuance of a license pursuant to this chapter 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 - 81st Session (2021) – 5 – agreements shall submit to the Registry:ry or other multistate (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;
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(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;
and (2) Additional independent credit reports and credit scores to confirm that the person continues to comply with any applicable requirements concerning financial responsibility;
and (2) Additional independent credit reports and credit scores requirements concerning financial responsibility;th any applicable (c) Information related to any administrative, civil or criminal findings made by any governmental jurisdiction concerning the person;
(c) Information related to any administrative, civil or criminal findings made by any governmental jurisdiction concerning the person;
- *SB453* – 6 – Sec.
Sec.
3.
Registry any of his or her duties with respect to the issuance and renewal of licenses as authorized by the provisions of this chapter, any reference to the Commissioner in this chapter shall be deemed to be a reference to the Registry.
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 the provisions of this chapter, any reference to the Commissioner in this chapter shall be deemed to be a reference to the Registry.
Sec.
- 81st Session (2021) – 6 – Sec.
“Check” means any check, draft, money order or other instrument used for the transmission or payment of money.
“Check” means any check, draft, money order or other does not include a traveler’s check.
“Check” does not include a traveler’s check.
or payment of money.
2.
“Check” 2.
If the application or fee for renewal is not filed within the required time, the Commissioner may [renew] reinstate the expired license [upon receipt of] if the licensee files the application [and] , the fee for renewal [,] and a fee of not more than $400 for late renewal [.] , if applicable, on or before February 28 of the year following the expiration of the license.
If the application or fee for renewal is not filed within the required time, the Commissioner may [renew] reinstate the expired license [upon receipt of] if the licensee files the application [and] , the fee for renewal [,] and a fee of not more than $400 for late renewal [.] , if applicable, on or before February 28 of the year following the exp4.
4.
- *SB453* – 7 – Sec.
Sec.
In conducting any investigation or hearing pursuant to this chapter, the Commissioner, or any person designated by the Commissioner, may require the attendance and testimony of any person and compel the production of all relevant books, records, accounts and other documents.
In conducting any investigation or hearing pursuant to this chapter, the Commissioner, or any person designated by the Commissioner, may require the attendance and testimony of any person and compel the production of all relevant books, records, - 81st Session (2021) – 7 – accounts and other documents.
The Commissioner shall charge and collect from each licensee or other person 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.
The Commissioner shall charge and collect from each licensee or other person 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 adopted pursuant thereto.t to this chapter or any regulations 3.
3.
The Commissioner may, in furtherance of his or her duties with respect to the issuance and renewal of licenses, participate in the Nationwide Multistate Licensing System and Registry.
The Commissioner may, in furtherance of his or participate in the Nationwide Multistate Licensing System andes, Registry.
- *SB453* – 8 – (a) Facilitating and participating in the establishment and implementation of the Registry;
(a) Facilitating and participating in the establishment and implementation of the Registry;
(e) Requiring an applicant for a license or a licensee to use the Registry to:
- 81st Session (2021) – 8 – (e) Requiring an applicant for a license or a licensee to use the Registry to:
(3) Submit any reports or the results of any examination that the Commissioner may require;
that the Commissioner may require;e results of any examination (4) Pay any applicable fees;
(4) Pay any applicable fees;
The Commissioner may require an applicant for a license or a licensee to submit a complete set of fingerprints when the Commissioner determines necessary.
The Commissioner may require an applicant for when the Commissioner determines necessary.e set of fingerprints 2.
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.
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 - *SB453* – 9 – the purpose of conducting a background check of the criminal history of an applicant for a license or a licensee.
2.
- 81st Session (2021) – 9 – 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.
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.
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:
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 person the Commissioner may require in accordance with any other guidelines of the Registry or other multistate agreements shall submit to the Registry:
§ 1681a(f), for the purpose of evaluating the financial responsibility of the person at the time of the submission of the application;
§ 1681a(f), for the purpose of the submission of the application;
and - *SB453* – 10 – (2) Additional independent credit reports and credit scores to confirm that the applicant continues to comply with any applicable requirements concerning financial responsibility;
andy of the person at the time of (2) Additional independent credit reports and credit scores to confirm that the applicant continues to comply with any applicable requirements concerning financial responsibility;
2.
- 81st Session (2021) – 10 – 2.
(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.
(b) “Responsible person” means a person who is employed by an applicant and who has principal, active managerial authority oveSec.
Sec.
1.
1.sion Each licensee shall register with and maintain a valid unique identifier with the Registry.
Each licensee shall register with and maintain a valid unique identifier with the Registry.
“Commissioner” means the Commissioner of Financial Institutions.
“Commissioner” means the Commissioner of Financial Ins4.tut“Community” means a contiguous area of the same economic unit or metropolitan area as determined by the Commissioner, and may include all or part of a city or several towns or cities.
4.
“Community” means a contiguous area of the same economic unit or metropolitan area as determined by the Commissioner, and may include all or part of a city or several towns or cities.
- *SB453* – 11 – 7.
7.
10.
- 81st Session (2021) – 11 – 10.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section 34 of this act.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section 34 of this actSec.
Sec.
and [(II)] (2) Is a citizen of the United States or lawfully entitled to remain and work in the United States.
and [(II)] (2) Is a citizen of the United States or lawfully ent[(b) A complete set of his or her fingerprints and written permission authorizing the Division of Financial Institutions of the Department of Business and Industry to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report.] 2.
[(b) A complete set of his or her fingerprints and written permission authorizing the Division of Financial Institutions of the Department of Business and Industry to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report.] 2.
- *SB453* – 12 – (b) Has previously been refused a license pursuant to this chapter or has had such a license suspended or revoked.
(b) Has previously been refused a license pursuant to this chapter or has had such a license suspended or revoked.
(d) Has falsified any of the information submitted to the Commissioner in support of the application for the license.
- 81st Session (2021) – 12 – (d) Has falsified any of the information submitted to the Commissioner in support of the application for the license.
A license expires on December 31 of each year unless renewed by the licensee .
A license expires on December 31 of each year renew a license, a licensee must submit to the Commissioner on or after November 1 and on or before [that date,] December 31 of [an annual] each year:
[through the payment, on] To renew a license, a licensee must submit to the Commissioner on or after November 1 and on or before [that date,] December 31 of [an annual] each year:
Annually, on or before April 15, each licensee shall file with the Commissioner and the Nationwide Multistate Licensing System and Registry a report of operations of the licensed business for the preceding calendar year.
Annually, on or before April 15, each licensee shall file with the Commissioner and the Nationwide Multistate Licensing System and Registry a report of operations of the lic[2.] The report must be made under oath and must be in the form and contain information prescribed by the Commissioner.
[2.] The report must be made under oath and must be in the form and contain information prescribed by the Commissioner.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section 34 of this act.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section of this act.
- *SB453* – 13 – Sec.
Sec.
The Commissioner may, in furtherance of his or her duties with respect to the issuance and renewal of certificates of registration pursuant to this chapter, participate in the Nationwide Multistate Licensing System and Registry.
The Commissioner may, in furtherance of his or her duties with respect to the issuance and renewal of certificates of registration pursuant to this chapter, participate in the - 81st Session (2021) – 13 – Nationwide Multistate Licensing System and Registry.
(a) Facilitating and participating in the establishment and implementation of the Registry;
implementation of the Registry;pating in the establishment and (b) Establishing relationships or contracts with the Registry or other entities designated by the Registry;
(b) Establishing relationships or contracts with the Registry or other entities designated by the Registry;
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 for or holder of a certificate of registration.
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 for or holder of a cer2.ficAn applicant for or holder of a certificate of registration shall, in addition to any other fees associated with the registration, pay all applicable charges to use the Registry, including, without limitation, any processing charges established by the administrator of the Registry.
2.
An applicant for or holder of a certificate of registration shall, in addition to any other fees associated with the registration, pay all applicable charges to use the Registry, including, without limitation, any processing charges established by the administrator of the Registry.
- *SB453* – 14 – Sec.
- 81st Session (2021) – 14 – Sec.
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 or holder of a certificate of registration.
The Commissioner may use the services of the Registry to Investigation, to the Central Repository for Nevada Records off 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 or holder of a certificate of registration.
3.
arrangements with other governmental agencies, the Conference of State Bank Supervisors, the State Regulatory Registry, LLC, or other associations representing governmental agencies.
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.
(b) Information concerning the personal history, financial history and experience of the person in a form prescribed by the - *SB453* – 15 – Registry, including, without limitation, an authorization of the person for the Registry and the Commissioner to obtain:
- 81st Session (2021) – 15 – (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.
consumer reporting agency described in section 603(f) of the Fair Credit Reporting Act, 15 U.S.C.
3.
Registry any of his or her duties with respect to the issuance and renewal of certificates of registration as authorized by this chapter, any reference to the Commissioner in this chapter shall be deemed to be a reference to the Registry.
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 certificates of registration as authorized by this chapter, any reference to the Commissioner in this chapter shall be deemed to be a reference to the Registry.
1.
- 81st Session (2021) – 16 – 1.
- *SB453* – 16 – 3.
applicant will provide debt-management services or a statement that the applicant will have no such location;
The address of each location in this State at which the applicant will provide debt-management services or a statement that the applicant will have no such location;
The applicant’s financial statements for each of the 2 years immediately preceding the application or, if it has not been in operation for the 2 years preceding the application, for the period of its existence, which must be audited by an accountant licensed to conduct audits if the applicant is claiming nonprofit or tax-exempt status or if the applicant’s business practices involve holding, accessing or directing the funds of an individual;
The applicant’s financial statements for each of the 2 years immediately preceding the application or, if it has not been in operation for the 2 years preceding the application, for the period of its existence, which must be audited by an accountant licensed to status or if the applicant’s business practices involve holding,mpt accessing or directing the funds of an individual;
12.
- 81st Session (2021) – 17 – use with individuals who reside in this State;he applicant will 13.
A copy of each form of agreement that the applicant will use with individuals who reside in this State;
13.
[A complete set of the fingerprints of every officer of the applicant and every employee or agent of the applicant who is - *SB453* – 17 – authorized to have access to the trust account required by NRS 676A.570 and written permission from each individual submitting a complete set of fingerprints authorizing the Commissioner to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report;
[A complete set of the fingerprints of every officer of the applicant and every employee or agent of the applicant who is authorized to have access to the trust account required by NRS 676A.570 and written permission from each individual submitting a complete set of fingerprints authorizing the Commissioner to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report;
or (b) Any entity that provides products or services to the applicant or any individual relating to the applicant’s debt-management services;
or or any individual relating to the applicant’s debt-managementpplicant services;
676A.340 1.
the Commissioner shall make the information in an application for registration as a provider available to the public.
Except as otherwise provided in subsection 2, the Commissioner shall make the information in an application for registration as a provider available to the public.
Sec.
- 81st Session (2021) – 18 – 676A.350 NRS 1.
30.
NRS 676A.350 is hereby amended to read as follows:
676A.350 1.
If an applicant has otherwise complied with NRS 676A.310 and 676A.320, including a timely effort to [obtain the information required by subsection 14 of NRS 676A.320,] submit a complete set of fingerprints of each applicable person specified in section 25 of this act, but the [information has] fingerprints have not been - *SB453* – 18 – received, the Commissioner may issue a temporary certificate of registration.
If an applicant has otherwise complied with NRS 676A.310 and 676A.320, including a timely effort to [obtain the information required by subsection 14 of NRS 676A.320,] submit a complete set of fingerprints of each applicable person specified in section 25 of this act, but the [information has] fingerprints have not been received, the Commissioner may issue a temporary certificate of registration.
(b) An officer, director or owner of the applicant has been convicted of a crime, or suffered a civil judgment, involving dishonesty or the violation of state or federal securities laws;
(b) An officer, director or owner of the applicant has been dishonesty or the violation of state or federal securities laws;
Subject to adjustment of the dollar amount pursuant to subsection 6 of NRS 676A.730, a board of directors is not independent for purposes of subsection 4 if more than one-fourth of its members:
Subject to adjustment of the dollar amount pursuant to subsection 6 of NRS 676A.730, a board of directors is not independent for purposes of subsection 4 if more than one-fourth of its(a) Are affiliates of the applicant, as defined in subsection 1 of NRS 676A.030 or paragraph (a), (b), (d), (e), (f) or (g) of subsection of NRS 676A.030;
(a) Are affiliates of the applicant, as defined in subsection 1 of NRS 676A.030 or paragraph (a), (b), (d), (e), (f) or (g) of subsection 2 of NRS 676A.030;
Sec.
- 81st Session (2021) – 19 – Sec.
In connection with a request pursuant to subsection [19] 18 of NRS 676A.320 for additional information, the Commissioner may extend the 120-day period for not more than 60 days.
In connection with a request pursuant to subsection [19] 18 may extend the 120-day period for not more than 60 days.
Subject to subsection 4 of NRS 676A.370 and NRS 676A.750, a registration as a provider is valid for 1 year.] - *SB453* – 19 – Sec.
Subject to subsection 4 of NRS 676A.370 and NRS 676A.750, a registration as a provider is valid for 1 year.] Sec.
(c) Contain the matter required for initial registration as a provider by subsections 8 and 9 of NRS 676A.320 and a financial statement, audited by an accountant licensed to conduct audits, for the applicant’s fiscal year immediately preceding the application;
(c) Contain the matter required for initial registration as a statement, audited by an accountant licensed to conduct audits, for the applicant’s fiscal year immediately preceding the application;
(e) Supply evidence of insurance in an amount equal to the larger of $250,000 or the highest daily balance in the trust account required by NRS 676A.570 during the 6-month period immediately preceding the application:
(e) Supply evidence of insurance in an amount equal to the larger of $250,000 or the highest daily balance in the trust account - 81st Session (2021) – 20 – preceding the application:uring the 6-month period immediately (1) Against risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant;
(1) Against risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant;
- *SB453* – 20 – (f) If the applicant has developed and implemented debt- management plans, disclose:
(f) If the applicant has developed and implemented debt- manage(1) The total amount of money received by the applicant pursuant to plans during the preceding 12 months from or on behalf of individuals who reside in this State and the total amount of money distributed to creditors of those individuals during that period;
(1) The total amount of money received by the applicant pursuant to plans during the preceding 12 months from or on behalf of individuals who reside in this State and the total amount of money distributed to creditors of those individuals during that period;
Except as otherwise provided in NRS 239.0115, the information required by subsections 7 [, 14] and [17] 16 of NRS 676A.320 and the addresses required by subsection 4 of NRS 676A.320 are confidential and not subject to inspection by the general public.
Except by subsections 7 [, 14] and [17] 16 of NRS 676A.320 and theired addresses required by subsection 4 of NRS 676A.320 are confidential and not subject to inspection by the general public.
If the Commissioner denies an application for renewal of registration as a provider, the applicant, within 30 days after receiving notice of the denial, may appeal and request a hearing pursuant to NRS 233B.121 to 233B.150, inclusive.
If the Commissioner denies an application for renewal of registration as a provider, the applicant, within 30 days after - 81st Session (2021) – 21 – pursuant to NRS 233B.121 to 233B.150, inclusive.
Subject to NRS 676A.750, while the appeal is pending, the applicant must continue to provide debt-management services to individuals with whom it has agreements.
Subject to NRSg 676A.750, while the appeal is pending, the applicant must continue to provide debt-management services to individuals with whom it has agreements.
The Commissioner may reinstate a cancelled registration if the applicant submits to the Commissioner on or before February 28 - *SB453* – 21 – of the following year, all information and fees required for renewal pursuant to this section.
The Commissioner may reinstate a cancelled registration if the of the following year, all information and fees required for28 renewal pursuant to this section.
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, in furtherance of his or her duties with respect to the issuance and renewal of licenses 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:
The Commissioner may take anyistate action with respect to participation in the Registry that the Commissioner deems necessary to carry out his or her duties, including, without limitation:
(c) Authorizing the Registry to collect and maintain records of applicants for and holders of licenses;
- 81st Session (2021) – 22 – (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;
(d) Authorizing the Registry to, on behalf of the Commissioner, collect and process any fees associated with fees;sure, examinations, fines, assessments and any other similar (e) Requiring an applicant for a license or a licensee to use the Registry to:
(e) Requiring an applicant for a license or a licensee to use the Registry to:
An applicant for a license or a licensee shall, in addition to any other fees associated with the license, pay all applicable - *SB453* – 22 – charges to use the Registry, including, without limitation, any processing charges established by the administrator of the Registry.
An applicant for a license or a 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.
Such regulations may, without limitation, establish additional procedures and requirements for participation in the Registry.
Such regulations may, without limitation, in the Registry.onal procedures and requirements for participation 4.
4.
Sec.
- 81st Session (2021) – 23 – contained in federal or state law governing the privacy orons 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.
37.
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.
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.
The Commissioner may enter into agreements or sharing of State Bank Supervisors, the State Regulatory Registry, LLC, or other associations representing governmental agencies.
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 - *SB453* – 23 – person the Commissioner may require in accordance with guidelines of the Registry or other multistate agreements shall submit to the Registry:
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:
(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:
(b) Information concerning the personal history, financial Registry, including, without limitation, an authorization of the person for the Registry and the Commissioner to obtain:
and (2) Additional independent credit reports and credit scores to confirm that the applicant continues to comply with any applicable requirements concerning financial responsibility;
and - 81st Session (2021) – 24 – (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;
(c) Information related to any administrative, civil or criminal person;
and (d) Any other information concerning the person that the Registry or Commissioner may require.
andde by any governmental jurisdiction concerning the (d) Any other information concerning the person that the Registry or Commissioner may require.
604A.010 As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 604A.015 to - *SB453* – 24 – 604A.125, inclusive, and section 34 of this act have the meanings ascribed to them in those sections.
604A.010 As used in this chapter, unless the context otherwise 604A.125, inclusive, and section 34 of this act have the meanings ascribed to them in those sections.
[(4)] (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.
- 81st Session (2021) – 25 – [(4)] (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.
[(5)] (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.
[(5)] (e) Has not been convicted of, or entered a plea of nolo misrepresentation or moral turpitude.ny crime involving fraud, [(6)] (f) If the applicant is a natural person:
[(6)] (f) If the applicant is a natural person:
604A.640 1.
this chapter expires annually on [the anniversary of the issuance of the] December 31, unless it is renewed.
A license issued pursuant to the provisions of this chapter expires annually on [the anniversary of the issuance of the] December 31, unless it is renewed.
A] a - *SB453* – 25 – licensee must [renew the license on or before the date on which the license expires by paying:] submit to the Commissioner on or after November 1 and on or before December 31 of each year:
A] a licensee must [renew the license on or before the date on which the license expires by paying:] submit to the Commissioner on or after November 1 and on or before December 31 of each year:
[A] If a licensee [who] fails to [renew his or her] 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 [within the time required by this section] is cancelled as of December 31 of that year and the licensee is not licensed pursuant to the provisions of this chapter.
[A] If a licensee [who] fails to [renew his or her] 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 [within the time required by this section] is cancelled as of - 81st Session (2021) – 26 – December 31 of that year and the licensee is not licensed pursuant to the provisions of this chapter.
[3.] The Commissioner may reinstate [an expired] a cancelled license [upon receipt of] if the licensee submits to the Commissioner on or before February 28 of the following year:
[3.] The Commissioner may reinstate [an expired] a cancelled license [upon receipt of] if the licensee submits to the Com(a) An application for renewal [fee] ;the following year:
(a) An application for renewal [fee] ;
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section 34 of this act.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section of this act.
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, in furtherance of his or pursuant to this chapter, participate in the Nationwide Multistate Licensing System and Registry.
- *SB453* – 26 – (a) Facilitating and participating in the establishment and implementation of the Registry;
(a) Facilitating and participating in the establishment and implementation of the Registry;
(e) Requiring an applicant or licensee to use the Registry to:
- 81st Session (2021) – 27 – (e) Requiring an applicant or licensee to use the Registry to:
(3) Submit any reports or the results of any examination that the Commissioner may require;
(3) Submit any reports or the results of any examination that t(4) Pay any applicable fees;
(4) Pay any applicable fees;
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.
The Commissioner may use the services of the Registry to Investigation, to the Central Repository for Nevada Records off 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.
Subject to any limitations or restrictions contained in federal or state law governing the privacy or - *SB453* – 27 – 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.
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.
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.
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 - 81st Session (2021) – 28 – continue to apply to such information or material after it has been disclosed 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;
(a) A complete set of fingerprints for submission to the Federal entity authorized to receive such information for a state, national and international background check on the criminal history of the person;
(c) Information related to any administrative, civil or criminal findings made by any governmental jurisdiction concerning the person;
findings made by any governmental jurisdiction concerning theiminal person;
and - *SB453* – 28 – (d) Any other information concerning the person that the Registry or Commissioner may require.
and (d) Any other information concerning the person that the Registry or Commissioner may require.
Sec.
- 81st Session (2021) – 29 – Sec.
3.
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.
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.
604C.010 NRS As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 604C.020 to 604C.170, inclusive, and section 45 of this act have the meanings ascribed to them in those sections.
52.
NRS 604C.010 is hereby amended to read as follows:
604C.010 As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 604C.020 to 604C.170, inclusive, and section 45 of this act have the meanings ascribed to them in those sections.
Sec.
- *SB453* – 29 – [(1)] (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.
[(1)] (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.
[(3)] (c) Has not committed any of the acts specified in subsection 2.
- 81st Session (2021) – 30 – [(3)] (c) Has not committed any of the acts specified in subsection 2.
[(4)] (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.
[(4)] (d) Has not had a license issued pursuant to this chapter suspended or revoked within the 10 years immediately preceding the date of[(5)] (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.
[(5)] (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.
(d) Has falsified any of the information submitted to the Commissioner in support of the application for a license.
(d) Has falsified any of the information submitted to the ComSec.
Sec.
and - *SB453* – 30 – (c) The annual percentage charged to each consumer when repayment was made.
and (c) The annual percentage charged to each consumer when repayment was made.
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.
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 - 81st Session (2021) – 31 – funding transactions in which the company engaged for the immediately preceding year.
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.
The Commissioner shall make the information contained in the report available to the public upon request in a manner which consumer.
4.
the confidentiality of the name of each company and 4.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section 34 of this act.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section of this act.
(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;
Commissioner, collect and process any fees associated with of the licensure, examinations, fines, assessments and any other similar fees;
and - *SB453* – 31 – (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 for or holder of a license.
and (f) Authorizing the Registry to, on behalf of the Commissioner, collect fingerprints in order to receive or conduct a background - 81st Session (2021) – 32 – check on the criminal history of an applicant for or holder of a license.
An applicant for or holder of a license 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.
An applicant for or holder of a license shall, in addition to any other fees associated with the license, pay all applicable processing charges established by the administrator of the, any Registry.
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 or holders of a license, enforcement actions and other relevant information to the Registry.
Subject to any limitations or restrictions contained in federal or state law governing the privacy or any violations of applicable laws committed by applicants for orrly holders of a license, enforcement actions and other relevant information to the Registry.
- *SB453* – 32 – 3.
- 81st Session (2021) – 33 – arrangements with other governmental agencies, the Conference of State Bank Supervisors, the State Regulatory Registry, LLC, or other associations representing governmental agencies.
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.
(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:
(b) Information concerning the personal history, financial Registry, including, without limitation, an authorization of the person for the Registry and the Commissioner to obtain:
2.
As used in this section:
3.
- 81st Session (2021) – 34 – 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 - *SB453* – 33 – the Commissioner in this chapter shall be deemed to be a reference to the Registry.
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 ref4.enAs used in this section, “unique identifier” means a number or other identifier assigned by the protocols established by the Registry.
4.
As used in this section, “unique identifier” means a number or other identifier assigned by the protocols established by the Registry.
(b) The complete business and residence addresses of the applicant.
(b) The complete business and residence addresses of the app(c) The character of the business sought to be carried on.
(c) The character of the business sought to be carried on.
(i) Any other information reasonably related to the applicant’s qualifications for the license which the Commissioner determines to be necessary.
- 81st Session (2021) – 35 – (i) Any other information reasonably related to the applicant’s qualifications for the license which the Commissioner determines to be necessary.
Each application for a license must have attached to it a financial statement showing the assets, liabilities and net worth of the applicant and each person who will be employed by the - *SB453* – 34 – applicant as a private professional guardian pursuant to paragraph (a) of subsection 1 of NRS 159.0595.
Each application for a license must have attached to it a the applicant and each person who will be employed by theet worth of applicant as a private professional guardian pursuant to paragraph (a) of subsection 1 of NRS 159.0595.
If an application is deemed to be withdrawn pursuant to this subsection or if an applicant otherwise withdraws an application, the Commissioner may not issue a license to the applicant unless the applicant submits a new application and pays the required fees.
If an application is deemed to be withdrawn pursuant to this subsection or if an applicant otherwise withdraws an application, the applicant submits a new application and pays the required fees.e [8.] 7.
[8.] 7.
A [private professional guardian company wishing to renew a] license to engage in the business of a private professional guardian [shall file in the Office of] expires on December 31 of each year, unless it is renewed.
A [private professional guardian company wishing to renew a] license to engage in the business of a private professional guardian [shall file in the Office of] expires on - 81st Session (2021) – 36 – license, a private professional guardian company must submit to the Commissioner [,] on or after November 1 and on or before [the June 1] December 31 of [the year after the] each year [of the original issuance of the license, an] :
To renew such a license, a private professional guardian company must submit to the Commissioner [,] on or after November 1 and on or before [the June 1] December 31 of [the year after the] each year [of the original issuance of the license, an] :
The application for renewal - *SB453* – 35 – must be accompanied by a] and all information required to complete the application;
The application for renewal must be accompanied by a] and all information required to complete the application;
All requirements of this chapter with respect to original licenses and bonds apply to all renewal licenses and bonds, except as otherwise provided in this section.
All requirements of this chapter with respect to original as otherwise provided in this section.l licenses and bonds, except 4.
4.
The Commissioner shall adopt regulations establishing the amount of the fee required pursuant to this section.
The Commissioner shall adopt regulations establishing the collected under the provisions of this section must be deposited in the State Treasury pursuant to the provisions of NRS 658.091.
All money collected under the provisions of this section must be deposited in the State Treasury pursuant to the provisions of NRS 658.091.
2.
- 81st Session (2021) – 37 – 2.
If applicable, on or before [the fourth Monday in January] April 15 of each year, each licensee shall submit to the Commissioner and the Registry the stock ledger of stockholders of the corporation required to be maintained pursuant to paragraph (c) of subsection 1 of NRS 78.105 or the list of each member and manager required to be maintained pursuant to paragraph (a) of subsection 1 of NRS 86.241, verified by the president or a manager, as appropriate.
If applicable, on or before [the fourth Monday in January] April 15 of each year, each licensee shall submit to the Commissioner and the Registry the stock ledger of stockholders of the corporation required to be maintained pursuant to paragraph (c) manager required to be maintained pursuant to paragraph (a) of subsection 1 of NRS 86.241, verified by the president or a manager, as appropriate.
A list of each member and manager submitted pursuant to subsection 2 must include the percentage of each member’s interest - *SB453* – 36 – in the company, in addition to the requirements set forth in NRS 86.241.
A list of each member and manager submitted pursuant to subsection 2 must include the percentage of each member’s interest in the company, in addition to the requirements set forth in NRS 86.241.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section 34 of this act.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section of this act.
The Commissioner may, in furtherance of his or her duties and the duties of the Division 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, in furtherance of his or issuance and renewal of licenses pursuant to this chapter,the participate in the Nationwide Multistate Licensing System and Registry.
(e) Requiring an applicant for a license or a licensee to use the Registry to:
- 81st Session (2021) – 38 – (e) Requiring an applicant for a license or a licensee to use the Registry to:
(3) Submit any reports or the results of any examination that the Commissioner may require;
that the Commissioner may require;e results of any examination (4) Pay any applicable fees;
(4) Pay any applicable fees;
and (f) Authorizing the Registry to, on behalf of the Commissioner or the Division, as applicable, collect fingerprints in order to - *SB453* – 37 – receive or conduct a background check on the criminal history of an applicant for a license or a licensee.
and (f) Authorizing the Registry to, on behalf of the Commissioner or the Division, as applicable, collect fingerprints in order to receive or conduct a background check on the criminal history of an applicant for a license or a licensee.
Sec.
a license or a licensee to submit a complete set of fingerprints when the Commissioner determines necessary.
69.
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.
- 81st Session (2021) – 39 – 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.
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.
The Commissioner may enter into agreements or sharing arrangements with other governmental agencies, the Conference - *SB453* – 38 – of State Bank Supervisors, the State Regulatory Registry, LLC, or other associations representing governmental agencies.
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.
In addition to any other requirements set forth in this chapter, each applicant for the issuance of a license pursuant to this chapter 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:
In addition to any other requirements set forth in this chapter, each applicant for the issuance of a license pursuant to this chapter and each owner, officer, director and applicant and any other person the Commissioner may require in the accordance with guidelines of the Registry or other multistate agreements shall submit to the Registry:
§ 1681a(f), for the purpose of evaluating the financial responsibility of the person at the time of the submission of the application;
§ 1681a(f), for the purpose of the submission of the application;
and (2) Additional independent credit reports and credit scores to confirm that the person continues to comply with any applicable requirements concerning financial responsibility;
andy of the person at the time of (2) Additional independent credit reports and credit scores to confirm that the person continues to comply with any applicable requirements concerning financial responsibility;
2.
- 81st Session (2021) – 40 – 2.
(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.
(b) “Responsible person” means a person who is employed by an applicant and who has principal, active managerial authority oveSec.
Sec.
1.
1.sion Each licensee shall register with and maintain a valid unique identifier with the Registry.
Each licensee shall register with and maintain a valid unique identifier with the Registry.
To the extent that the Commissioner has delegated to the Registry any of his or her duties or the duties of the Division with respect to the issuance and renewal of licenses as authorized by the provisions of this chapter, any reference to the Commissioner - *SB453* – 39 – or the Division in this chapter shall be deemed to be a reference to the Registry.
To the extent that the Commissioner has delegated to the Registry any of his or her duties or the duties of the Division with respect to the issuance and renewal of licenses as authorized by the provisions of this chapter, any reference to the Commissioner or the Division in this chapter shall be deemed to be a reference to the Registry.
The Division may adopt such regulations as it deems necessary to carry out the provisions of this chapter, including, without limitation, regulations prescribing amounts required for liquidity purposes.
The Division may adopt this chapter, including, without limitation, regulations prescribingf amounts required for liquidity purposes.
(3) The names, residence and business addresses of all shareholders or members who hold 10 percent or more of the voting stock of the applicant’s business and all persons having an interest in the business as principals, partners, officers, trustees or directors, specifying the capacity and title of each;
(3) The names, residence and business addresses of all shareholders or members who hold 10 percent or more of the voting stock of the applicant’s business and all persons having an interest - 81st Session (2021) – 41 – specifying the capacity and title of each;fficers, trustees or directors, (4) The length of time the applicant has been engaged in the business of acting as an exchange facilitator;
(4) The length of time the applicant has been engaged in the business of acting as an exchange facilitator;
- *SB453* – 40 – (a) Arrange to have taken, by a law enforcement agency or other authorized entity acceptable to the Division, a complete set of the applicant’s fingerprints and the fingerprints of each person or officer who will be conducting the business of the applicant in this State and who has authority to transfer exchange money held by the applicant;
(a) Arrange to have taken, by a law enforcement agency or other authorized entity acceptable to the Division, a complete set of the who will be conducting the business of the applicant in this Stateficer and who has authority to transfer exchange money held by the applicant;
or (2) Written verification, on a form prescribed by the Division, stating that the fingerprints described in paragraph (a) were taken and directly forwarded electronically or by another means to the Central Repository and that each person whose fingerprints were taken has given written permission to the law enforcement agency or other authorized entity taking the fingerprints to submit the fingerprints to the Central Repository for submission to the Federal Bureau of Investigation for a report on the background of each such person and to such other law enforcement agencies as the Division deems necessary.
or (2) Written verification, on a form prescribed by the Division, stating that the fingerprints described in paragraph (a) were taken and directly forwarded electronically or by another means to the Central Repository and that each person whose enforcement agency or other authorized entity taking thethe law fingerprints to submit the fingerprints to the Central Repository for submission to the Federal Bureau of Investigation for a report on the background of each such person and to such other law enforcement agencies as the Division deems necessary.
(a) Unless the fingerprints described in paragraph (a) of subsection 4 are directly forwarded pursuant to subparagraph (2) of paragraph (b) of subsection 4, submit those fingerprints to the Central Repository for submission to the Federal Bureau of Investigation and to such other law enforcement agencies as the Division deems necessary;
(a) Unless the fingerprints described in paragraph (a) of subsection 4 are directly forwarded pursuant to subparagraph (2) of paragraph (b) of subsection 4, submit those fingerprints to the - 81st Session (2021) – 42 – Central Repository for submission to the Federal Bureau of Investigation and to such other law enforcement agencies as the Division deems necessary;
and (b) Request from each such agency any information regarding the background of each person whose fingerprints were taken as the Division deems necessary.
and (b) Request from each such agency any information regarding Division deems necessary.rson whose fingerprints were taken as the 6.] The Division shall approve an application submitted pursuant to this section within 45 days after the submission of the completed application, any additional information required by the Division and proof satisfactory to the Division that the applicant has complied with the provisions of NRS 645G.320.
6.] The Division shall approve an application submitted pursuant to this section within 45 days after the submission of the completed application, any additional information required by the Division and proof satisfactory to the Division that the applicant has complied with the provisions of NRS 645G.320.
- *SB453* – 41 – (a) An application for renewal which contains the information required by the Division for that purpose ;
(a) An application for renewal which contains the information required by the Division for that purpose ;
Except as otherwise provided in subsection 2, if a licensee fails to [apply] submit any item required for [a] the renewal of his or her license [before the date of the expiration thereof,] pursuant to NRS 645G.100, 645G.200 or 645G.210, as applicable, 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 and no license may be issued to the licensee except upon another application for an original license .
Except as otherwise provided in subsection 2, if a licensee fails to [apply] submit any item required for [a] the renewal of his or her license [before the date of the expiration thereof,] pursuant to NRS 645G.100, 645G.200 or 645G.210, as applicable, to the Commissioner on or after November 1 and on or before December year and no license may be issued to the licensee except upon that another application for an original license .
A person who is licensed as an exchange facilitator in another state or territory of the United States and is not otherwise required to be licensed pursuant to the provisions of this chapter may submit an application for a reciprocal license as an exchange facilitator pursuant to the provisions of this section.
A person who is licensed as an exchange facilitator in another state or territory of the United States and is not otherwise required to be licensed pursuant to the provisions of this - 81st Session (2021) – 43 – chapter may submit an application for a reciprocal license as an exchange facilitator pursuant to the provisions of this section.
(a) The applicant is licensed in a jurisdiction that grants reciprocal licensing to a person licensed pursuant to this chapter;
(a) The applicant is licensed in a jurisdiction that grants rec(b) The Division determines that the laws and regulationshapter;
(b) The Division determines that the laws and regulations governing exchange facilitators of the jurisdiction in which the applicant is licensed are at least equivalent to the provisions of this chapter;
governing exchange facilitators of the jurisdiction in which the applicant is licensed are at least equivalent to the provisions of this chapter;
- *SB453* – 42 – 2.
2.
To renew such a license, the licensee must [be renewed annually] submit to the Commissioner on or after November 1 and on or before [July 1, by providing] December 31 of each year:
To renew such a Commissioner on or after November 1 and on or before [July 1, by providing] December 31 of each year:
3.
- 81st Session (2021) – 44 – 3.
4.
December 31 of each year unless it is renewed.
A license issued pursuant to this section expires on December 31 of each year unless it is renewed.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section 34 of this act.
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in section of this act.
The Commissioner may, in furtherance of his or her duties with respect to the issuance and renewal of licenses and certificates pursuant to this chapter, participate in the Nationwide - *SB453* – 43 – Multistate Licensing System and Registry.
The Commissioner may, in furtherance of his or her duties with respect to the issuance and renewal of licenses and certificates pursuant to this chapter, participate in the Nationwide Multistate Licensing System and Registry.
(b) Establishing relationships or contracts with the Registry or other entities designated by the Registry;
other entities designated by the Registry;acts with the Registry or (c) Authorizing the Registry to collect and maintain records of applicants for and holders of licenses and certificates;
(c) Authorizing the Registry to collect and maintain records of applicants for and holders of licenses and certificates;
and (5) Engage in any other activity that the Commissioner may require;
and - 81st Session (2021) – 45 – (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 for or the holder or a license or certificate.
and (f) Authorizing the Registry to, on behalf of the Commissioner, collect fingerprints in order to receive or conduct a background license or certificate.istory of an applicant for or the holder or a 2.
2.
The Commissioner may require an applicant for or the holder of a license or certificate to submit a complete set of - *SB453* – 44 – his or her fingerprints when the Commissioner determines necessary.
The Commissioner may require an applicant for or the holder of a license or certificate to submit a complete set of his or her fingerprints when the Commissioner determines necessary.
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 or the holder of a license or certificate.
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 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 or the holder of a license or certificate.
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.
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 - 81st Session (2021) – 46 – shared with federal and state regulatory officials with oversight authority over applicants for or holders of a license or certificate without the loss of privilege or the loss of confidentiality protections provided by federal or state law.
Such information and material may be shared with federal and state regulatory officials with oversight authority over applicants for or holders of a license or certificate without the loss of privilege or the loss of confidentiality protections provided by federal or state law.
(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;
(a) A complete set of fingerprints for submission to the Federal 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 - *SB453* – 45 – Registry, including, without limitation, an authorization of the person for the Registry and the Commissioner to obtain:
(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:
(c) Information related to any administrative, civil or criminal findings made by any governmental jurisdiction concerning the person;
findings made by any governmental jurisdiction concerning theiminal person;
Sec.
- 81st Session (2021) – 47 – Sec.
The Commissioner may issue a license or certificate through the Registry.
The Commissioner may issue a license or certificate thr3.gh 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 and certificates as authorized by the provisions of this chapter, any reference to the Commissioner in this chapter shall be deemed to be a reference to 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 and certificates as authorized by the provisions of this chapter, any reference to the Commissioner in this chapter shall be deemed to be a reference to the Registry.
- *SB453* – 46 – (a) The name of the applicant and the name under which the applicant does business or expects to do business.
(a) The name of the applicant and the name under which the applicant does business or expects to do business.
(c) The character of the business sought to be carried on.
[In addition to any other requirements, each applicant or member, partner, director, officer or manager of an applicant shall submit to the Commissioner a complete set of fingerprints and written permission authorizing the Division of Financial Institutions of the Department of Business and Industry to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report.
[In addition to any other requirements, each applicant or member, partner, director, officer or manager of an applicant shall submit to the Commissioner a complete set of fingerprints and - 81st Session (2021) – 48 – written permission authorizing the Division of Financial Institutions of the Department of Business and Industry to forward the fingerprints to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Inv4.] The application must be subscribed by the applicant and acknowledged.
4.] The application must be subscribed by the applicant and acknowledged.
- *SB453* – 47 – Sec.
Sec.
A person who is not licensed in this State as a collection agency may apply to the Commissioner for a certificate of registration as a foreign collection agency.
A person who is not licensed in this State as a collection agency may apply to the Commissioner for a certificate of reg2.
2.
(2) Respond to a bid, proposal or invitation for the right to collect or receive payment for another of any claim, unless the bid, proposal or invitation is for the collection of claims owed by residents of another state;
(2) Respond to a bid, proposal or invitation for the right to collect or receive payment for another of any claim, unless the bid, - 81st Session (2021) – 49 – residents of another state;
or (3) Advertise or solicit, either in print, by letter, in person or otherwise, the right to collect or receive payment for another of any claim;
orthe collection of claims owed by (3) Advertise or solicit, either in print, by letter, in person or otherwise, the right to collect or receive payment for another of any claim;
(1) A fee to apply for a certificate of registration of not less than $200 prorated on the basis of the registration year as determined by the Commissioner;
than $200 prorated on the basis of the registration year asof not less determined by the Commissioner;
(g) Must maintain the accounts, books and records of the collection agency in accordance with generally accepted accounting - *SB453* – 48 – principles and in accordance with the requirements of subsection 1 of NRS 649.335;
(g) Must maintain the accounts, books and records of the collection agency in accordance with generally accepted accounting principles and in accordance with the requirements of subsection 1 of NRS 649.335;
To renew a certificate of registration, a foreign collection agency must submit to the Commissioner:
To must submit to the Commissioner:ion, a foreign collection agency (a) An application for renewal which contains, without limitation, the information specified in paragraph (c) of subsection 2;
(a) An application for renewal which contains, without limitation, the information specified in paragraph (c) of subsection 2;
If a foreign collection agency fails to submit any item required pursuant to subsection 3 to the Commissioner on or after November 1 and on or before December 31 of any year, the certificate of registration of the foreign collection agency is cancelled as of December 31 of that year.
If a foreign collection agency fails to submit any item required pursuant to subsection 3 to the Commissioner on or after November 1 and on or before December 31 of any year, the - 81st Session (2021) – 50 – certificate of registration of the foreign collection agency is cancelled as of December 31 of that year.
5.
any additional examinations pursuant to NRS 649.335 of thend accounts, books and records of each person who holds a certificate of registration as a foreign collection agency.
The Commissioner may conduct an annual examination and any additional examinations pursuant to NRS 649.335 of the accounts, books and records of each person who holds a certificate of registration as a foreign collection agency.
- *SB453* – 49 – (c) Has not committed any of the acts specified in NRS 649.215.
(c) Has not committed any of the acts specified in NRS 649.215.
(d) Has not had a collection agency license or manager’s certificate suspended or revoked within the 10 years immediately preceding the date of filing the application.
certificate suspended or revoked within the 10 years immediately preceding the date of filing the application.
(c) Submit, in such form as the Commissioner prescribes [:
- 81st Session (2021) – 51 – (c) Submit, in such form as the Commissioner prescribes [:
and (2) Three complete sets of fingerprints which the Commissioner may forward to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for its report.] (d) Submit such other information reasonably related to his or her qualifications for the manager’s certificate as the Commissioner determines to be necessary.
and (2) Three complete sets of fingerprints which the Commissioner may forward to the Central Repository for Nevada of Investigation for its report.]ubmission to the Federal Bureau (d) Submit such other information reasonably related to his or her qualifications for the manager’s certificate as the Commissioner determines to be necessary.
If an application is deemed to be withdrawn pursuant to this subsection or if an applicant otherwise withdraws an application, the - *SB453* – 50 – Commissioner may not issue a license to the applicant unless the applicant submits a new application and pays any required fees.
If an application is deemed to be withdrawn pursuant to this subsection or if an applicant otherwise withdraws an application, the applicant submits a new application and pays any required fees.e Sec.
Sec.
and (b) The renewal fee .
and - 81st Session (2021) – 52 – the renewal application.][and all information required to complete 2.
[and all information required to complete the renewal application.] 2.
If a collection agency or manager 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 or certificate is cancelled as of December 31 of that year.
If a collection agency or manager 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 Commissioner may reinstate a cancelled license or certificate if the collection agency or manager submits to the Commissioner on or before February 28 of the following year:
The Commissioner may reinstate a cancelled license or certificate if the collection agency or manager submits to the Commissioner on or before February 28 of the following year:
Each licensed collection agency shall file with the Commissioner and the Registry a written report, signed and sworn to by its manager, no later than [January 31] April 15 of each year, - *SB453* – 51 – unless the Commissioner determines that there is good cause for later filing of the report.
Each licensed collection agency shall file with the Commissioner and the Registry a written report, signed and sworn to by its manager, no later than [January 31] April 15 of each year, unless the Commissioner determines that there is good cause for later filing of the report.
(b) The total sum on deposit in customer trust fund accounts and available for immediate distribution as of the close of the last business day of the preceding month, the title of the trust account or accounts, and the name of the banks or credit unions where the money is deposited.
(b) The total sum on deposit in customer trust fund accounts and business day of the preceding month, the title of the trust account or accounts, and the name of the banks or credit unions where the money is deposited.
(e) Such other information, audit or reports as the Commissioner may require.
- 81st Session (2021) – 53 – (e) Such other information, audit or reports as the Commissioner may require.
As soon as practicable after determining that the Nationwide Multistate Licensing System and Registry, as defined in section 34 of this act, has sufficient capabilities to allow the Commissioner of Financial Institutions to carry out the amendatory provisions of sections 1 to 90, inclusive, of this act, the Commissioner of Financial Institutions shall notify the Governor and the Director of the Legislative Counsel Bureau of that fact, and shall publish notice to the public of that fact on the Internet website of the Division of Financial Institutions of the Department of Business and Industry.
As soon as practicable after determining that the Nationwide Multistate Licensing System and Registry, as defined in Commissioner of Financial Institutions to carry out the amendatory provisions of sections 1 to 90, inclusive, of this act, the Commissioner of Financial Institutions shall notify the Governor and the Director of the Legislative Counsel Bureau of that fact, and shall publish notice to the public of that fact on the Internet website of the Division of Financial Institutions of the Department of Business and Industry.
and (b) On the date on which the Commissioner of Financial Institutions, pursuant to section 91 of this act, notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry, as defined in section 34 of this act, has sufficient capabilities to allow the - *SB453* – 52 – Commissioner to carry out the amendatory provisions of sections 1 to 90, inclusive, for all other purposes.
and (b) On the date on which the Commissioner of Financial Institutions, pursuant to section 91 of this act, notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry, as defined in section 34 of this act, has sufficient capabilities to allow the Commissioner to carry out the amendatory provisions of sections 1 to 90, inclusive, for all other purposes.
H - *SB453*
~~~~~ 21 - 81st Session (2021)
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Action History

  1. Approved by the Governor. Chapter 347.

  2. Enrolled and delivered to Governor.

  3. In Senate. To enrollment.

  4. Read third time. Passed. Title approved. (Yeas: 42, Nays: None.) To Senate.

  5. From committee: Do pass. Declared an emergency measure under the Constitution. Taken from General File. Placed on General File for next legislative day.

  6. Read third time. Passed. Title approved. (Yeas: 21, Nays: None.) To Assembly. In Assembly. Read first time. Referred to Committee on Commerce and Labor. To committee.

  7. From committee: Do pass. Placed on Second Reading File. Read second time.

  8. From printer. To committee.

  9. Read first time. Referred to Committee on Finance. To printer.

Sponsors

  • Senate Committee on Finance · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 66 not signed on

Sponsors (1)

  • Senate Committee on Finance

Co-sponsors (0)

None.

Not signed on (66)

66 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Frequently asked questions

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SB 453 is sponsored by Senate Committee on Finance.
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This bill has been enacted into law. Introduced May 19, 2021. Enacted.
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