Nevada Revised Statutes 649.365 – Approval of business name required; prohibition against use of certain names, terms and forms
1. A collection agency licensed under this chapter must obtain the approval of the Commissioner before using or changing a business name.
Terms Used In Nevada Revised Statutes 649.365
- Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) Source: OCC
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. A collection agency licensed under this chapter shall not:
(a) Use any business name which is identical or similar to a business name used by another collection agency licensed under this chapter or which may mislead or confuse the public.
(b) Use any printed forms which may mislead or confuse the public.
(c) Use the term ‘credit bureau’ in its name unless it operates a bona fide credit bureau in conjunction with its collection agency business. For purposes of this paragraph, ‘credit bureau’ means any person engaged in gathering, recording and disseminating information relative to the creditworthiness, financial responsibility, paying habits or character of persons being considered for credit extension for prospective creditors.