1. In addition to any other requirements set forth in this chapter, each applicant must submit:
(a) Proof satisfactory to the Commissioner that the applicant:
(1) 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.
(2) Has not made a false statement of material fact on the application for the license.
(3) Has not committed any of the acts specified in subsection 2.
(4) 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) Has not been convicted of, or entered a plea of nolo contendere to, a felony or any crime involving fraud, misrepresentation or moral turpitude.
(6) If the applicant is a natural person:
(I) Is at least 21 years of age; and
(II) Is a citizen of the United States or lawfully entitled to remain and work in the United States.
(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. In addition to any other lawful reasons, the Commissioner may refuse to issue a license to an applicant if the applicant:
(a) Has committed or participated in any act which, if committed or done by a holder of a license, would be grounds for the suspension or revocation of the license.
(b) Has previously been refused a license pursuant to this chapter or has had such a license suspended or revoked.
(c) Has participated in any act which was a basis for the refusal or revocation of a license pursuant to this chapter.
(d) Has falsified any of the information submitted to the Commissioner in support of the application for the license.
(Added to NRS by 2005, 1702; A 2005, 22nd Special Session, 99)
1. In addition to any other requirements set forth in this chapter, each applicant must submit proof satisfactory to the Commissioner that the applicant:
(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.
(b) Has not made a false statement of material fact on the application for the license.
(c) Has not committed any of the acts specified in subsection 2.
(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.
(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) If the applicant is a natural person:
(1) Is at least 21 years of age; and
(2) Is a citizen of the United States or lawfully entitled to remain and work in the United States.
2. In addition to any other lawful reasons, the Commissioner may refuse to issue a license to an applicant if the applicant:
(a) Has committed or participated in any act which, if committed or done by a holder of a license, would be grounds for the suspension or revocation of the license.
(b) Has previously been refused a license pursuant to this chapter or has had such a license suspended or revoked.
(c) Has participated in any act which was a basis for the refusal or revocation of a license pursuant to this chapter.
(d) Has falsified any of the information submitted to the Commissioner in support of the application for the license.
(Added to NRS by 2005, 1702; A 2005, 22nd Special Session, 99; 2021, 2049, 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 2030)
Structure Nevada Revised Statutes
Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services
NRS 604A.015 - "Automated loan machine" defined.
NRS 604A.020 - Cashing" defined.
NRS 604A.025 - "Check" defined.
NRS 604A.030 - "Check-cashing service" defined.
NRS 604A.035 - Commissioner" defined.
NRS 604A.036 - "Consumer credit" defined.
NRS 604A.038 - "Covered service member" defined.
NRS 604A.040 - Customer" defined.
NRS 604A.045 - "Default" defined.
NRS 604A.050 - "Deferred deposit loan" defined.
NRS 604A.055 - "Deferred deposit loan service" defined.
NRS 604A.057 - "Dependent" defined.
NRS 604A.060 - "Electronic transfer of money" defined.
NRS 604A.065 - "Extension" defined.
NRS 604A.070 - "Grace period" defined.
NRS 604A.0703 - "High-interest loan" defined.
NRS 604A.0705 - "High-interest loan service" defined.
NRS 604A.075 - "Licensee" defined.
NRS 604A.080 - "Loan" defined.
NRS 604A.085 - "Refund anticipation loan" defined.
NRS 604A.090 - "Regulation Z" defined.
NRS 604A.105 - "Title loan" defined.
NRS 604A.110 - "Title loan service" defined.
NRS 604A.115 - "Title to a vehicle" or "title" defined.
NRS 604A.120 - "Truth in Lending Act" defined.
NRS 604A.125 - "Vehicle" defined.
NRS 604A.200 - Application of chapter to persons who seek to evade its provisions.
NRS 604A.210 - Chapter does not prohibit licensee from offering customer grace period; restrictions.
NRS 604A.220 - Uniformity of application and construction; resolution of conflicts.
NRS 604A.230 - Effect of amendment or repeal of chapter on preexisting lawful contracts.
NRS 604A.240 - Collection of loans made outside State.
NRS 604A.250 - Exemptions from chapter.
NRS 604A.315 - Commissioner required to investigate alleged violations of chapter.
NRS 604A.405 - Required notices and disclosures; regulations.
NRS 604A.501 - Limitations on original term.
NRS 604A.5012 - Written loan agreement required; contents.
NRS 604A.5014 - Requirements for collection of defaulted loan; civil action to collect debt; venue.
NRS 604A.5015 - Practices regarding customers who are members of military.
NRS 604A.5016 - Provision of information and materials concerning public assistance and services.
NRS 604A.5017 - Limitation regarding amount of loan.
NRS 604A.5018 - Prohibited acts by licensee regarding multiple loans to same customer.
NRS 604A.5023 - Rescission of loan by customer.
NRS 604A.5024 - Payment of loan in full.
NRS 604A.5025 - Partial payment on loan.
NRS 604A.5026 - Extended payment plan: Customer eligibility; requirements; restrictions; default.
NRS 604A.5027 - Repayment plan.
NRS 604A.503 - Limitations on amounts licensee may collect after default.
NRS 604A.5033 - Receipt required for each payment by customer; contents.
NRS 604A.5034 - Requirements regarding person acting as agent or assisting in making loan.
NRS 604A.570 - Required disclosures.
NRS 604A.571 - Prohibited fees.
NRS 604A.572 - Prohibited advertisements.
NRS 604A.573 - Required notices.
NRS 604A.574 - Limitations on extended term of loans.
NRS 604A.575 - Rescission of loan by customer.
NRS 604A.576 - Collection of past due accounts; prohibited acts.
NRS 604A.577 - Reporting violations of chapter.
NRS 604A.578 - Certain licensees required to offer repayment plan.
NRS 604A.5035 - Determination of whether loan is high-interest loan.
NRS 604A.5037 - Limitations on original term.
NRS 604A.504 - Written loan agreement required; contents.
NRS 604A.5041 - Requirements for collection of defaulted loan; civil action to collect debt; venue.
NRS 604A.5042 - Provision of information and materials concerning public assistance and services.
NRS 604A.5043 - Practices regarding customers who are members of military.
NRS 604A.5045 - Limitation regarding amount of loan.
NRS 604A.5046 - Prohibited acts by licensee regarding multiple loans to same customer.
NRS 604A.505 - Rescission of loan by customer.
NRS 604A.5052 - Payment of loan in full.
NRS 604A.5053 - Partial payment on loan.
NRS 604A.5055 - Repayment plan.
NRS 604A.5058 - Limitations on amounts licensee may collect after default.
NRS 604A.506 - Limitations on fees licensees may charge after default on installment payments.
NRS 604A.5063 - Receipt required for each payment by customer; contents.
NRS 604A.5064 - Requirements regarding person acting as agent or assisting in making loan.
NRS 604A.580 - Required disclosures.
NRS 604A.581 - Prohibited fees.
NRS 604A.582 - Prohibited advertisements.
NRS 604A.583 - Required notices.
NRS 604A.584 - Limitations on extended term of loans.
NRS 604A.585 - Rescission of loan by customer.
NRS 604A.586 - Collection of past due accounts; prohibited acts.
NRS 604A.587 - Reporting violations of chapter.
NRS 604A.588 - Certain licensees required to offer repayment plan.
NRS 604A.5067 - Written loan agreement required; contents.
NRS 604A.5068 - Requirements for collection of defaulted loan; civil action to collect debt; venue.
NRS 604A.507 - Practices regarding customers who are members of military.
NRS 604A.50705 - Provision of information and materials concerning public assistance and services.
NRS 604A.5074 - Restrictions on duration of loan and periods of extension.
NRS 604A.5078 - Applicability of Uniform Commercial Code; repossession of vehicle; civil action.
NRS 604A.5079 - Rescission of loan by customer.
NRS 604A.508 - Payment of loan in full.
NRS 604A.5081 - Partial payment on loan.
NRS 604A.5083 - Repayment plan.
NRS 604A.5085 - Limitations on amounts licensee may collect after default.
NRS 604A.5088 - Receipt required for each payment by customer; contents.
NRS 604A.5089 - Requirements regarding person acting as agent or assisting in making loan.
NRS 604A.590 - Required disclosures.
NRS 604A.591 - Prohibited fees.
NRS 604A.592 - Prohibited advertisements.
NRS 604A.593 - Required notices.
NRS 604A.594 - Rescission of loan by customer.
NRS 604A.595 - Collection of past due accounts; prohibited acts.
NRS 604A.596 - Reporting violations of chapter.
NRS 604A.597 - Certain licensees required to offer repayment plan.
NRS 604A.509 - Practices regarding customers who are members of military.
NRS 604A.5983 - Prohibited annual percentage rates.
NRS 604A.5985 - Required disclosures.
NRS 604A.5987 - Prohibited terms of consumer credit to covered service member.
NRS 604A.600 - Application for license.
NRS 604A.615 - Deposit of securities in lieu of surety bond.
NRS 604A.620 - Application for license for office or other place of business located outside State.
NRS 604A.625 - Investigation of applicant; notice; hearing; order.
NRS 604A.630 - Procedure upon denial of license.
NRS 604A.645 - Change of control of licensee: Notice; application to Commissioner.
NRS 604A.700 - Required books and records.
NRS 604A.710 - Investigation of businesses; examination of books and records by Commissioner.
NRS 604A.730 - Annual examinations by Commissioner; exceptions.
NRS 604A.740 - Fees for regulatory activities; penalties for failure to pay fees.
NRS 604A.760 - Fees for failure to submit reports.
NRS 604A.800 - Temporary suspension of license: Conditions; notice; hearing; terms of suspension.
NRS 604A.810 - Order to desist and refrain; action to enjoin violation; appointment of receiver.
NRS 604A.820 - Procedure for taking disciplinary action; authorized disciplinary action; grounds.
NRS 604A.830 - Additional grounds for disciplinary action.
NRS 604A.840 - Surrender of license by licensee; effect of surrender.
NRS 604A.900 - Remedies for certain willful violations.
NRS 604A.910 - Administrative fines for unlicensed activity.