Nev. Rev. Stat. § 649.345

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

Section 649.345 - Annual report to Commissioner and Registry; additional reports; suspension of license or certificate for false information

1. Each licensed collection agency shall file with the Commissioner and the Registry a written report, signed and sworn to by its compliance manager, no later than April 15 of each year, unless the Commissioner determines that there is good cause for later filing of the report. The report must include:

(a) If applicable, the total sum of money due to all creditors as of the close of the last business day of the preceding month.

(b) If applicable, the total sum on deposit in customer trust fund accounts and available for immediate distribution as of the close of the last business day of the preceding month, the title of the trust account or accounts, and the name of the banks or credit unions where the money is deposited.

(c) If applicable, the total amount of creditors' or forwarders' share of money collected more than 60 days before the last business day of the preceding month and not remitted by that date.

(d) When the total sum under paragraph (c) exceeds $10, the name of each creditor or forwarder and the respective share of each in that sum.

(e) Such other information, audit or reports as the Commissioner may require.

2. The Commissioner may require a licensed collection agency to file more frequent reports as the Commissioner determines necessary.

3. The filing of any report required by this section which is known by the collection agency to contain false information or statements constitutes grounds for the suspension of the agency's license or the compliance manager's certificate, or both.

NRS 649.345

Added to NRS by 1969, 834; A 1981, 756; 1983, 1718; 1987, 1894; 1989, 921; 1999, 1540; 2023, 3603

Amended by 2023, Ch. 534,§36, eff. 10/1/2023.

Amended by 2021, Ch. 347,§90, 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 1969, 834; A 1981, 756; 1983, 1718; 1987, 1894; 1989, 921; 1999, 1540