Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 649.075 - License required to engage in business of collection agency; conduct constituting engaging in such business; location for which license required to be obtained; conditions under which debt buyer is authorized to share license with affiliated person1. Except as otherwise provided in this section, a person shall not engage in the business of a collection agency within this State without having first applied for and obtained a license as a collection agency from the Commissioner.2. A person engages in the business of a collection agency in this State for the purposes of subsection 1 if the person is located:(a) In this State and is seeking to collect a claim, regardless of whether the debtor resided or currently resides in this State or another state;(b) In another state and is seeking to collect a claim from a debtor that resides in this State; or(c) In another state and is seeking to collect a claim on behalf of a person or entity that resides in this State.3. A person engaging in the business of a collection agency shall obtain a license for the office of the principal place of business of the person. A person is not required to obtain a license for a branch office or remote location.4. A debt buyer may share a single license as a collection agency with a person affiliated with the debt buyer if the affiliated person does not engage in any collection activities other than purchasing claims.[1:237:1931; 1931 NCL § 1420]-(NRS A 1969, 836; 1983, 1711; 1987, 1888; 1993, 2415; 2005, 1867; 2007, 2500; 2023, 3594)Amended by 2023, Ch. 534,§18, eff. 10/1/2023.[1:237:1931; 1931 NCL § 1420] - (NRS A 1969, 836; 1983, 1711; 1987, 1888; 1993, 2415; 2005, 1867; 2007, 2500)