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British Banks Supporting Small Business

Legislation to Watch

 

Senate Bill 159 for the state of Nevada would get rid of the State's exemption from licensing for out of state collection agencies and would require all collection agencies who collect in Nevada to either obtain a License or a Certificate of Registration. Existing law requires agencies who hold a Certificate of Registration to annually submit proof that it will not solicit business in Nevada. This bill would add the requirement that such an agency would also have to submit annual proof that it will not respond to any bids, proposals or invitations for business in Nevada. Further, the current law requires that any agency that holds a License or a Certificate of Registration must have a Qualified Manager, who has passed the Nevada Qualified Manager test, working in the office where collection activity is carried out. Currently, this standard is not required of those who hold an exemption in Nevada. For more on this bill, please see: http://www.leg.state.nv.us/74th/Reports/history.cfm?ID=410.


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