NevadaSB43783rd Regular Session (2025)SenateWALLET

AN ACT relating to financial services; setting forth certain requirements for a contract between an Internet consumer lender and a resident of this State for the provision of a loan; authorizing an Internet consumer lender to apply for a license to engage in the business of lending for an office or place of business located outside this State without having a license for an office or place of business located inside this State; exempting Internet consumer lenders from provisions prohibiting a person from conducting the business of making loans in the same office or place of business as any other business; and providing other matters properly relating thereto.

Sponsored By: Senate Committee on Commerce and Labor

Signed by Governor

BDR 55-951

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Easier Nevada licensing for online lenders

Internet business and internet consumer lenders can apply for a Nevada license for an office outside Nevada. Lenders also qualify if they or an affiliate already hold a Nevada in‑state license. Applicants must choose to keep records available in Nevada or pay the state's reasonable travel, meal, and lodging costs for exams. If they do not finish the application in six months (or a later time set by the Commissioner), it can be treated as withdrawn and must be refiled with new fees. The law defines who counts as an Internet consumer lender and an Internet business lender.

Nevada protections for online consumer loans

The law requires online consumer loan contracts with Nevada residents to be governed by Nevada law. It also requires any lawsuit, arbitration, or other dispute step to take place in Nevada. Any contract clause that tries to avoid these rules is void and unenforceable. These rules apply to contracts made on or after October 1, 2025. Federal law can still override this rule.

Shared offices and remote work for lenders

Internet lenders may make loans from offices that also host other businesses. The law also defines a "remote location" as any place other than a licensed office where an employee makes loans in Nevada. This clarifies where lending rules apply and allows more flexible office setups.

Sponsors & Cosponsors

Sponsor

  • Senate Committee on Commerce and Labor

    Affiliation unavailable

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 62 • No: 1

House vote 5/21/2025

Final Passage - Assembly (1st Reprint)

Yes: 42 • No: 0

Senate vote 4/22/2025

Final Passage - Senate (1st Reprint)

Yes: 20 • No: 1

Actions Timeline

  1. Approved by the Governor. Chapter 91.

    5/28/2025legislature
  2. Enrolled and delivered to Governor.

    5/27/2025legislature
  3. To enrollment.

    5/22/2025Senate
  4. In Senate.

    5/21/2025Senate
  5. Read third time. Passed. Title approved. (Yeas: 42, Nays: None.) To Senate.

    5/21/2025House
  6. Read second time.

    5/20/2025House
  7. From committee: Do pass.

    5/19/2025House
  8. Read first time. Referred to Committee on Commerce and Labor. To committee.

    4/28/2025House
  9. In Assembly.

    4/28/2025House
  10. To Assembly.

    4/28/2025Senate
  11. From printer. To engrossment. Engrossed. First reprint.

    4/25/2025Senate
  12. Read third time. Passed, as amended. Title approved. (Yeas: 20, Nays: 1.) To printer.

    4/22/2025Senate
  13. Reprinting dispensed with.

    4/21/2025Senate
  14. Read second time. Amended. (Amend. No. 325.)

    4/21/2025Senate
  15. Placed on Second Reading File.

    4/21/2025Senate
  16. From committee: Amend, and do pass as amended.

    4/21/2025Senate
  17. From printer. To committee.

    3/26/2025Senate
  18. Read first time. Referred to Committee on Commerce and Labor. To printer.

    3/24/2025Senate

Bill Text

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