Nev. Rev. Stat. § 676A.320

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 676A.320 - Application for registration: Additional contents

An application for registration must be signed under oath and include:

1. The applicant's name, principal business address and telephone number and all other business addresses in this State, electronic mail addresses and Internet website addresses;

2. All names under which the applicant conducts business;

3. 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;

4. The name and home address of each officer and director of the applicant and each person that owns at least 10 percent of the applicant;

5. Identification of every jurisdiction in which, during the 5 years immediately preceding the application:

(a) The applicant or any of its officers or directors have been licensed or registered to provide debt-management services; or

(b) Individuals have resided when they received debt-management services from the applicant;

6. A statement describing, to the extent it is known or should be known by the applicant, any material civil or criminal judgment or litigation and any material administrative or enforcement action by a governmental agency in any jurisdiction against the applicant, any of its officers, directors, owners or agents or any person who is authorized to have access to the trust account required by NRS 676A.570;

7. 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;

8. Evidence of accreditation by an independent accrediting organization approved by the Commissioner;

9. Evidence that, within 12 months after initial employment, each of the applicant's counselors becomes certified as a certified counselor or certified debt specialist;

10. A description of the three most commonly used educational programs that the applicant provides or intends to provide to individuals who reside in this State and a copy of any materials used or to be used in those programs;

11. A description of the applicant's financial analysis and initial budget plan, including, without limitation, any form or electronic model used to evaluate the financial condition of individuals;

12. A copy of each form of agreement that the applicant will use with individuals who reside in this State;

13. The schedule of fees and charges that the applicant will use with individuals who reside in this State;

14. The names and addresses of all employers of each director during the 10 years immediately preceding the application;

15. A description of any ownership interest of at least 10 percent by a director, owner or employee of the applicant in:

(a) Any affiliate of the applicant; or

(b) Any entity that provides products or services to the applicant or any individual relating to the applicant's debt-management services;

16. If the applicant is exempt from taxation, a statement of the amount of compensation of the applicant's five most highly compensated employees for each of the 3 years immediately preceding the application or, if it has not been in operation for the 3 years preceding the application, for the period of its existence;

17. The identity of each director who is an affiliate, 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, of the applicant; and

18. Any other information that the Commissioner reasonably requires to perform the Commissioner's duties under NRS 676A.350.

NRS 676A.320

Added to NRS by 2009, 1974; A 2021, 2042

Amended by 2021, Ch. 347,§28, eff. 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 amendatory provisions for all other purposes.

Added to NRS by 2009, 1974