Public-domain · open source
OpenJurist

Uniform Debt-Management Services Act

Nevada · Uniform Debt-Management Services Act · §§ 676A.010 to 676A.780 · 70 sections

Overview

The Uniform Debt-Management Services Act regulates companies that provide debt-management services to consumers, covering both credit counseling arranged through debt-management plans that seek concessions from creditors and debt settlement work paid for through settlement fees. Its central mechanism is mandatory registration with a state regulator: a provider must apply, disclose specified information about itself and its operations, pay fees, post a surety bond, and carry insurance, and the regulator may grant, deny, or issue a temporary certificate within a set review period, with renewal, cancellation, and reinstatement handled on the same track. The act also builds a supporting framework around that registration — definitions of the regulated activities and participants, including certified counselors and debt specialists and the trust accounts through which consumer funds pass; continuing duties to report changes in registration information; rules on which of that information the regulator publishes and which stays confidential; and an alternative application route for providers already licensed or certified elsewhere.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

Sections covered

  • NRS 676A.010Short title
  • NRS 676A.020Definitions
  • NRS 676A.030“Affiliate” defined
  • NRS 676A.040“Agreement” defined
  • NRS 676A.050“Bank” defined
  • NRS 676A.060“Business address” defined
  • NRS 676A.070“Certified counselor” defined
  • NRS 676A.080“Certified debt specialist” defined
  • NRS 676A.090“Commissioner” defined
  • NRS 676A.100“Concessions” defined
  • NRS 676A.110“Credit counseling” defined
  • NRS 676A.120“Day” defined
  • NRS 676A.130“Debt-management plan” defined
  • NRS 676A.140“Debt-management services” defined
  • NRS 676A.150“Debt settlement services” defined
  • NRS 676A.160“Entity” defined
  • NRS 676A.170“Good faith” defined
  • NRS 676A.175“Nationwide Multistate Licensing System and Registry” or “Registry” defined
  • NRS 676A.180“Person” defined
  • NRS 676A.190“Plan” defined
  • NRS 676A.200“Principal amount of the debt” defined
  • NRS 676A.210“Provider” defined
  • NRS 676A.220“Record” defined
  • NRS 676A.230“Settlement fee” defined
  • NRS 676A.240“Sign” defined
  • NRS 676A.250“State” defined
  • NRS 676A.260“Trust account” defined
  • NRS 676A.270Applicability
  • NRS 676A.280Uniformity of application and construction
  • NRS 676A.290Relation to Electronic Signatures in Global and National Commerce Act
  • NRS 676A.300Registration required
  • NRS 676A.310Application for registration: Form; contents; fee; bond; evidence of insurance
  • NRS 676A.320Application for registration: Additional contents
  • NRS 676A.330Duty to report changes in information
  • NRS 676A.340Commissioner to make certain information available; certain information confidential
  • NRS 676A.350Issuance of certificate of registration; temporary certificate of registration; grounds for denial of registration
  • NRS 676A.360Commissioner to approve or deny registration within certain period; extension to obtain additional information; appeal of denial
  • NRS 676A.370Renewal of registration: Application; form; contents; fees; disclosure; denial; cancellation and reinstatement
  • NRS 676A.380Alternative application for registration for applicants licensed or certified in another state; conditions
  • NRS 676A.390Surety bond required
  • NRS 676A.400Substitute for surety bond
  • NRS 676A.410Commissioner authorized to take action to participate in Registry; charges for use; regulations; provisions do not replace or affect authority of Commissioner regarding registration
  • NRS 676A.420Submission and processing of fingerprints
  • NRS 676A.430Commissioner required to report certain information or material to Registry; confidentiality of information or material provided; Commissioner authorized to enter into certain agreements and arrangements
  • NRS 676A.440Additional materials required to be submitted to Registry
  • NRS 676A.450Holder of certificate to register and maintain unique identifier; Commissioner authorized to issue certificate through Registry; references to Commissioner deemed references to Registry
  • NRS 676A.500Provider to act in good faith; fiduciary duty
  • NRS 676A.510Provider to maintain toll-free communication system
  • NRS 676A.520Duties of provider before providing debt-management services
  • NRS 676A.530Required disclosures and materials: Use of Internet; form; written copy provided on request; disclosures on website; termination of electronic communication; termination of agreement
  • NRS 676A.540Agreement: Contents; required provisions; prohibited provisions; provisions void if contrary to certain requirements
  • NRS 676A.550Cancellation of agreement
  • NRS 676A.560Disclosures and documents to be in English; provider also must furnish translation if language other than English is used in communications
  • NRS 676A.570Money paid to provider to be held in trust; requirements concerning trust accounts and money held in trust; accounting; prompt refund on termination of agreement
  • NRS 676A.580Fees or charges: Restrictions
  • NRS 676A.590Voluntary contributions: Restrictions
  • NRS 676A.600Required disclosures by provider
  • NRS 676A.610Agreement voidable by individual in certain circumstances
  • NRS 676A.620Provider may terminate agreement for nonpayment
  • NRS 676A.630Provider to provide accounting periodically and upon request; retention of records
  • NRS 676A.640Provider compliance with federal regulations; provider to maintain information security program and notify Commissioner of notification events
  • NRS 676A.700Prohibited acts
  • NRS 676A.710Provider to notify Commissioner of civil actions
  • NRS 676A.720Provider liable for conduct of person to whom it delegates duties
  • NRS 676A.730Powers of Commissioner: Enforcement; investigation; regulations; fees; cooperative agreements
  • NRS 676A.740Commissioner to enforce chapter; penalties
  • NRS 676A.750Suspension, revocation or denial of renewal of registration by Commissioner
  • NRS 676A.760Civil remedies
  • NRS 676A.770Violation constitutes deceptive trade practice
  • NRS 676A.780Statute of limitations for certain actions

Enacted in other states

Delaware, Rhode Island, Tennessee

All Nevada named statutes →

Download

Copy

Embed on your site

Hover to preview · click to copy the code

Search Wikipedia →