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Nevada Revised Statutes Title 55. Banks and Related Organizations § 676A.310. Application for registration: Form; contents; fee; bond; evidence of insurance

Current as of January 01, 2025 | Updated by Findlaw Staff

1. An application for registration as a provider must be in a form prescribed by the Commissioner.

2. Subject to adjustment of dollar amounts pursuant to subsection 6 of NRS 676A.730, an application for registration as a provider must be accompanied by:

(a) The fee established by the Commissioner;

(b) The bond required by NRS 676A.390;

(c) If the debt-management services to be provided by the provider will include the development and implementation of debt-management plans, identification of all trust accounts required by NRS 676A.570 and an irrevocable consent authorizing the Commissioner to review and examine the trust accounts;

(d) Evidence of insurance in the amount of $250,000:

(1) Against the risks of dishonesty, fraud, theft and other misconduct on the part of the applicant or a director, employee or agent of the applicant;

(2) Issued by an insurance company authorized to do business in this State and rated at least A or equivalent by a nationally recognized rating organization approved by the Commissioner;

(3) With a deductible not exceeding $5,000;

(4) Payable for the benefit of the applicant, this State and individuals who are residents of this State, as their interests may appear; and

(5) Not subject to cancellation by the applicant or the insurer until 60 days after written notice has been given to the Commissioner;

(e) Proof of compliance with NRS 360.760 to 360.796, inclusive; and

(f) If the applicant is exempt from taxation, evidence of nonprofit and tax-exempt status applicable to the applicant under the Internal Revenue Code, 26 U.S.C. § 501.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 55. Banks and Related Organizations § 676A.310. Application for registration: Form; contents; fee; bond; evidence of insurance - last updated January 01, 2025 | https://codes.findlaw.com/nv/title-55-banks-and-related-organizations/nv-rev-st-676a-310/

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