Nev. Rev. Stat. § 676A.010
Short title
This chapter may be cited as the Uniform Debt-Management Services Act.
Nevada Revised Statutes Chapter 676A — Uniform Debt-Management Services Act
Nevada · statute · Nev. Rev. Stat. ch. 676A · 70 active provisions
Nev. Rev. Stat. § 676A.020
Definitions
As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 676A.030 to 676A.260, inclusive, have the meanings ascribed to them in those sections.
Nev. Rev. Stat. § 676A.030
“Affiliate” defined
“Affiliate” means: 1. With respect to an individual: (a) The spouse of the individual; (b) A sibling of the individual or the spouse of a sibling; (c) An individual or the spouse of an individual who is a lineal ancestor or lineal descendant of the individual or the individual’s spouse; (d) An aunt, uncle, great aunt,…
Nev. Rev. Stat. § 676A.040
“Agreement” defined
“Agreement” means an agreement between a provider and an individual for the performance of debt-management services.
Nev. Rev. Stat. § 676A.050
“Bank” defined
“Bank” means a financial institution, including, without limitation, a commercial bank, savings bank, savings and loan association, credit union and trust company, engaged in the business of banking, chartered under federal or state law and regulated by a federal or state banking regulatory authority.
Nev. Rev. Stat. § 676A.060
“Business address” defined
“Business address” means the physical location of a business, including, without limitation, the name and number of a street.
Nev. Rev. Stat. § 676A.070
“Certified counselor” defined
“Certified counselor” means an individual certified by a training program or certifying organization, approved by the Commissioner, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt-management services in which an agreement contemplates that…
Nev. Rev. Stat. § 676A.080
“Certified debt specialist” defined
“Certified debt specialist” means an individual certified by a training program or certifying organization, approved by the Commissioner, that authenticates the competence of individuals providing education and assistance to other individuals in connection with debt settlement services.
Nev. Rev. Stat. § 676A.090
“Commissioner” defined
“Commissioner” means the Commissioner of Financial Institutions.
Nev. Rev. Stat. § 676A.100
“Concessions” defined
“Concessions” means assent to repayment of a debt on terms more favorable to an individual than the terms of the contract between the individual and a creditor.
Nev. Rev. Stat. § 676A.110
“Credit counseling” defined
“Credit counseling” means providing education and assistance to an individual concerning debts owed by the individual which may include, without limitation, the development and implementation of a debt-management plan.
Nev. Rev. Stat. § 676A.120
“Day” defined
“Day” means calendar day.
Nev. Rev. Stat. § 676A.130
“Debt-management plan” defined
“Debt-management plan” means a plan which contemplates that: 1. Regular, periodic payments will be made to a provider by or on behalf of an individual to whom debt-management services are being provided; and 2. The individual’s creditors will reduce financing charges or fees for late payment, default or delinquency. Ê…
Nev. Rev. Stat. § 676A.140
“Debt-management services” defined
“Debt-management services” means services as an intermediary between an individual and one or more creditors of the individual for the purpose of obtaining concessions and includes credit counseling, the development and implementation of debt-management plans and debt settlement services. The term does not include: 1.…
Nev. Rev. Stat. § 676A.150
“Debt settlement services” defined
“Debt settlement services” means debt-management services which contemplate that: 1. Regular, periodic payments will be made by or on behalf of the individual to whom the services are being provided; 2. The individual will accumulate such payments in a bank account which is insured by the Federal Deposit Insurance Corp…
Nev. Rev. Stat. § 676A.160
“Entity” defined
“Entity” means a person other than an individual.
Nev. Rev. Stat. § 676A.170
“Good faith” defined
“Good faith” means honesty in fact and the observance of reasonable standards of fair dealing.
Nev. Rev. Stat. § 676A.175
“Nationwide Multistate Licensing System and Registry” or “Registry” defined
“Nationwide Multistate Licensing System and Registry” or “Registry” has the meaning ascribed to it in NRS 604A.083.
Nev. Rev. Stat. § 676A.180
“Person” defined
“Person” means an individual, corporation, business trust, estate, trust, partnership, limited-liability company, association, joint venture or any other legal or commercial entity. The term does not include a public corporation, government or governmental subdivision, agency or instrumentality.
Nev. Rev. Stat. § 676A.190
“Plan” defined
“Plan” means a program or strategy in which a provider furnishes debt-management services to an individual and which includes a schedule of payments to be made by or on behalf of the individual and used to pay debts owed by the individual.
Nev. Rev. Stat. § 676A.200
“Principal amount of the debt” defined
“Principal amount of the debt” means the amount of a debt at the time of an agreement.
Nev. Rev. Stat. § 676A.210
“Provider” defined
“Provider” means a person that provides, offers to provide or agrees to provide debt-management services directly or through others.
Nev. Rev. Stat. § 676A.220
“Record” defined
“Record” means information which is inscribed on a tangible medium or which is stored in an electronic or other medium and is retrievable in perceivable form.
Nev. Rev. Stat. § 676A.230
“Settlement fee” defined
“Settlement fee” means a charge imposed on or paid by an individual in connection with a creditor’s assent to accept in full satisfaction of a debt an amount less than the principal amount of the debt.
Nev. Rev. Stat. § 676A.240
“Sign” defined
“Sign” means, with present intent to authenticate or adopt a record: 1. To execute or adopt a tangible symbol; or 2. To attach to or logically associate with the record an electronic sound, symbol or process.
Page 1 of 3Next →