Nevada Revised Statutes 649.085 – Qualifications of applicant for license
Every individual applicant, every officer and director of a corporate applicant, and every member of a firm or partnership applicant for a license as a collection agency or collection agent must submit proof satisfactory to the Commissioner that he or she:
Terms Used In Nevada Revised Statutes 649.085
- Fraud: Intentional deception resulting in injury to another.
- Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
1. Has a good reputation for honesty, trustworthiness and integrity and is competent to transact the business of a collection agency in a manner which protects the interests of the general public.
2. Has not had a collection agency license suspended or revoked within the 10 years immediately preceding the date of the application, unless the license was suspended for a minor violation that did not harm a debtor and the license was subsequently restored.
3. Has not been convicted of, or entered a plea of nolo contendere to:
(a) A felony relating to the practice of collection agencies or collection agents; or
(b) Any crime involving fraud, misrepresentation or moral turpitude.
4. Has not made a false statement of material fact on the application.
5. Will maintain a physical office as the principal place of business. If a collection agent of the applicant will be working from a remote location, the principal place of business of the applicant must be located in the United States.
6. Has established a plan to ensure that his or her collection agency will provide the services of a collection agency adequately and efficiently.