License required to engage in business of collection agency; conduct constituting engaging in such business; location for which license required to be obtained; conditions under which debt buyer is authorized to share license with affiliated person.

NRS 649.075 License required to engage in business of collection agency; conduct constituting engaging in such business; location for which license required to be obtained; conditions under which debt buyer is authorized to share license with affiliated person. 1. Except as otherwise provided in this section, a person shall not engage in the business of a collection agency within this State without having first applied for and obtained a license as a collection agency from the Commissioner. 2. A person engages in the business of a collection agency in this State for the purposes of subsection 1 if the person is located: (a) In this State and is seeking to collect a claim, regardless of whether the debtor resided or currently resides in this State or another state; (b) In another state and is seeking to collect a claim from a debtor that resides in this State; or (c) In another state and is seeking to collect a claim on behalf of a person or entity that resides in this State. 3. A person engaging in the business of a collection agency shall obtain a license for the office of the principal place of business of the person. A person is not required to obtain a license for a branch office or remote location. 4. A debt buyer may share a single license as a collection agency with a person affiliated with the debt buyer if the affiliated person does not engage in any collection activities other than purchasing claims. [1:237:1931; 1931 NCL § 1420]—(NRS A 1969, 836; 1983, 1711; 1987, 1888; 1993, 2415; 2005, 1867; 2007, 2500; 2023, 3594)