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ARTICLE · 05 JULY 2023

Nevada Completes Modernization And Clarification Of Collection Agencies Act

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On June 16, 2023, Nevada Governor Joe Lombardo approved Senate Bill 276, completing its "spring cleaning" to clarify and modernize its existing Collection Agencies Act.

United StatesFinance and Banking
Krista Cooley
Krista Cooley
Francis L. Doorley
Francis L. Doorley
Joy Tsai
Joy Tsai
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On June 16, 2023, Nevada Governor Joe Lombardo approved Senate Bill 276, completing its "spring cleaning" to clarify and modernize its existing Collection Agencies Act. We previously discussed the proposed changes to Nevada's Collection Agencies Act in our April edition of Licensing Link. In this article, we summarize the changes enacted by the final version of Senate Bill 276. For most purposes, the law takes effect October 1, 2023, although the law is effective immediately for the limited purpose of enabling regulators to adopt regulations and perform administrative tasks to prepare to carry out the provisions of the new law.

The Nevada Collection Agencies Act licenses and regulates the activities of "collection agencies," which currently are broadly defined as any person "engaging, directly or indirectly, and as a primary or a secondary object business or pursuit, in the collection of or in soliciting or obtaining in any manner the payment of a claim owed or due

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