NRS 676A.310 Application for registration: Form; contents; fee; bond; evidence of insurance.

271 words·~1 min read·/nv/chapter-676a-uniform-debt-management-services-act/676a-310·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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.