Nevada Revised Statutes
Chapter 604C - Consumer Litigation Funding
NRS 604C.320 - License required.


1. A person shall not engage in the business of a consumer litigation funding company in this State without having first obtained a license from the Commissioner pursuant to this chapter.
2. For the purpose of this section, a person is "engaged in the business of a consumer litigation funding company" if the person:
(a) Solicits or engages in consumer litigation funding transactions in this State; or
(b) Is located in this State and solicits or engages in consumer litigation funding transactions outside of this State.
3. Any person and the several members, officers, directors, agents and employees thereof who violate or participate in the violation of this section are guilty of a misdemeanor.
(Added to NRS by 2019, 2406)

Structure Nevada Revised Statutes

Nevada Revised Statutes

Chapter 604C - Consumer Litigation Funding

NRS 604C.010 - Definitions.

NRS 604C.020 - "Advertise" defined.

NRS 604C.030 - "Applicant" defined.

NRS 604C.040 - "Charges" defined.

NRS 604C.050 - "Commissioner" defined.

NRS 604C.060 - "Consumer" defined.

NRS 604C.070 - "Consumer litigation funding" defined.

NRS 604C.080 - "Consumer litigation funding company" or "company" defined.

NRS 604C.090 - "Consumer litigation funding contract" defined.

NRS 604C.100 - "Consumer litigation funding transaction" defined.

NRS 604C.110 - "Document preparation fee" defined.

NRS 604C.120 - "Funded amount" defined.

NRS 604C.130 - "Funding date" defined.

NRS 604C.140 - "Immediate family member" defined.

NRS 604C.150 - "Legal claim" defined.

NRS 604C.160 - "Licensee" defined.

NRS 604C.165 - "Nationwide Multistate Licensing System and Registry" or "Registry" defined. [Effective on the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the N...

NRS 604C.170 - "Resolution date" defined.

NRS 604C.200 - Regulations.

NRS 604C.220 - Assignment of legal claim; applicability.

NRS 604C.240 - Applicability of attorney-client relationship.

NRS 604C.300 - Certain acts related to the operation of a consumer funding company prohibited. [Effective through December 31, 2021.] Certain acts related to the operation of a consumer funding company prohibited. [Effective January 1, 2022.]

NRS 604C.310 - Limitations on amount to be paid to consumer litigation funding company under consumer litigation funding contract.

NRS 604C.320 - License required.

NRS 604C.330 - Licensee must conduct business in accordance with license.

NRS 604C.340 - Application to persons seeking to evade certain provisions.

NRS 604C.350 - Written consumer litigation funding contract required; contents.

NRS 604C.360 - Required disclosures which constitute material terms of consumer litigation funding contract.

NRS 604C.370 - Additional required disclosures.

NRS 604C.380 - Notice of cancellation of consumer litigation funding contract.

NRS 604C.390 - Required assets.

NRS 604C.400 - Registered agent.

NRS 604C.500 - Application for license.

NRS 604C.510 - Additional materials to be submitted with application; grounds for denial of license. [Effective until the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Burea...

NRS 604C.520 - Statement concerning obligation for child support required for issuance or renewal of license. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, su...

NRS 604C.530 - Suspension of license; reinstatement of license. [Effective until the date of the repeal of 42 U.S.C. § 666, the federal law requiring each state to establish procedures for withholding, suspending and restricting the professional, occ...

NRS 604C.540 - Application fees; surety bond; regulations concerning application fees and surety bond.

NRS 604C.550 - Investigation of applicant; notice; hearing; order; request hearing; regulations.

NRS 604C.560 - Issuance of license.

NRS 604C.565 - Expiration of license; procedure for renewal; cancellation and reinstatement. [Effective on the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the...

NRS 604C.570 - Change of address by licensee: Notice; approval by Commissioner; penalty for failure to provide required notice.

NRS 604C.580 - License not transferable or assignable.

NRS 604C.583 - Commissioner authorized to take action to participate in Registry; charges for use; regulations; provisions do not affect authority of Commissioner regarding licensing. [Effective on the date on which the Commissioner of Financial Inst...

NRS 604C.586 - Submission and processing of fingerprints. [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 Sys...

NRS 604C.589 - Commissioner to report information to Registry; confidentiality of information provided; Commissioner authorized to enter into certain agreements and arrangements. [Effective on the date on which the Commissioner of Financial Instituti...

NRS 604C.592 - Additional materials to be submitted to Registry. [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 Licens...

NRS 604C.595 - Licensee required to register and maintain unique identifier; Commissioner authorized to issue license through Registry; references to Commissioner deemed references to Registry. [Effective on the date on which the Commissioner of Fina...

NRS 604C.600 - Required books and records.

NRS 604C.610 - Annual examinations by Commissioner; fees for examination.

NRS 604C.620 - Independent audit and examination: Payment of assessment; cooperation.

NRS 604C.630 - Fees for audit.

NRS 604C.640 - Annual report by licensee; composite reports. [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 Licensi...

NRS 604C.800 - Remedies for certain willful violations.

NRS 604C.810 - Commissioner to enforce chapter; penalties.

NRS 604C.820 - Person may file complaint alleging violation; requirements; duties of Commissioner when complaint is filed.

NRS 604C.830 - Suspension or revocation of license by Commissioner.

NRS 604C.840 - Administrative fines.

NRS 604C.850 - Contract void if deceptive and abusive violation.