Section 649.Sec. 6.1 - NEW1. Pursuant to subsection 4 of NRS 649.075, as amended by section 18 of Senate Bill No. 276, chapter 534, Statutes of Nevada 2023, at page 3594, a debt buyer may share a single license as a collection agency with one or more persons affiliated with the debt buyer if:(a) Any such affiliated person purchases only claims and does not engage in any other collection activity, including, without limitation, employing a third party to collect a claim; and(b) The Division approves the debt buyer adding each such affiliated person to the license of the debt buyer.2. If a debt buyer shares a single license with one or more affiliated persons, the debt buyer is liable and responsible for any action of any such affiliated person who violates a provision of this chapter or chapter 649 of NRS. The debt buyer: (a) Must promptly notify the Division if the debt buyer no longer wants to share a single license with an affiliated person; and(b) Is liable and responsible for any action of an affiliated person until the Division receives the notification required pursuant to paragraph (a).3. Upon request of the Commissioner, a debt buyer that shares a single license shall submit with its annual report filed with the Commissioner pursuant to NRS 649.345, as amended by section 36 of Senate Bill No. 276, chapter 534, Statutes of Nevada 2023, at page 3603, a list of all affiliated persons with whom the debt buyer shares the license.Nev. Admin. Code § 649.Sec. 6.1
Added to NAC by Comm'r of Financial Institutions by R097-23A, eff. 6/5/2024