Section 649.196 - [Effective until the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry has sufficient capabilities to allow the Commissioner to carry out the amendatory provisions for all other purposes] Qualifications of applicant; requirements; notice of refusal to issue certificate; request for hearing; withdrawal of application1. Each applicant for a compliance manager's certificate must submit proof satisfactory to the Commissioner that the applicant: (a) Is at least 21 years of age.(b) Has a good reputation for honesty, trustworthiness and integrity and is competent to oversee the compliance of a collection agency in a manner which protects the interests of the general public. An applicant may demonstrate competency to oversee the compliance of a collection agency by:(1) Holding a certification from a national association that is a nonprofit organization with expertise in the business of collections, compliance or financial services;(2) Having 3 years of experience working in compliance for a collection agency;(3) Holding a professional degree or accreditation relating to compliance of a collection agency; or(4) Serving as a compliance manager on or before October 1, 2023.(c) Has not committed any of the acts specified in NRS 649.215.(d) Has not had a collection agency license or compliance manager's certificate suspended or revoked within the 10 years immediately preceding the date of filing the application , unless the license or certificate was suspended for a minor violation that did not harm a debtor and was subsequently restored.(e) Has not been convicted of, or entered a plea of nolo contendere to, a felony or any crime involving fraud, misrepresentation or moral turpitude.(f) Has had not less than 2 years' full-time experience with a collection agency in the collection of accounts or with a financial institution or as a compliance manager. At least 1 year of the 2 years of experience must have been within the 18-month period preceding the date of filing the application.2. Each applicant must:(a) Pass the examination or reexamination provided for in NRS 649.205 , unless the examination or reexamination is waived pursuant to subsection 4 of NRS 649.205.
(b) Pay the required fees. (c) Submit such information reasonably related to his or her qualifications for the compliance manager's certificate as the Commissioner determines to be necessary.3. The Commissioner may refuse to issue a compliance manager's certificate if the applicant does not meet the requirements of subsections 1 and 2.4. If the Commissioner refuses to issue a compliance manager's certificate pursuant to this section, the Commissioner shall notify the applicant in writing by certified mail stating the reasons for the refusal. The applicant may submit a written request for a hearing within 20 days after receiving the notice. If the applicant fails to submit a written request within the prescribed period, the Commissioner shall enter a final order.5. The Commissioner shall consider an application to be withdrawn if the Commissioner has not received all information and fees required to complete the application within 6 months after the date the application is first submitted to the Commissioner or within such later period as the Commissioner determines in accordance with any existing policies of joint regulatory partners. If an application is deemed to be withdrawn pursuant to this subsection or if an applicant otherwise withdraws an application, the Commissioner may not issue a certificate to the applicant unless the applicant submits a new application and pays any required fees.Added to NRS by 1969, 831; A 1977, 1568; 1983, 680, 1715; 1987, 1891; 1995, 1000; 2003, 2865; 2005, 1870; 2019, 4332; 2021, 2069, effective on the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry has sufficient capabilities to allow the Commissioner to carry out the provisions of chapter 347, Statutes of Nevada 2021, at page 2030Amended by 2023, Ch. 534,§26, eff. 10/1/2023.Amended by 2019, Ch. 627,§109, eff. 7/1/2019.Added to NRS by 1969, 831; A 1977, 1568; 1983, 680, 1715; 1987, 1891; 1995, 1000; 2003, 2865; 2005, 1870This section is set out more than once due to postponed, multiple, or conflicting amendments.