NAC649.220. Restrictions on service for multiple agencies.

     1. No person may serve as manager of more than one primary collection agency at the same time.

     2. No person may serve as manager of more than one secondary collection agency at the same time.

     3. At the discretion of the Commissioner of Financial Institutions, upon application and his or her written approval first obtained, a manager of a collection agency may serve as manager of one primary collection agency and one secondary collection agency at the same time.

     4. The approval may be revoked by the Commissioner at any time if he or she finds that:

     (a) Confusion may exist in the mind of the public in dealing with the collection agencies having common management.

     (b) The various business functions of the collection agencies operating under common management are likely to be or are being merged or commingled, or are otherwise being conducted, in the Commissioner’s opinion, in a manner which may be deleterious or damaging to the best interests of the public or the collection agency industry.

     (c) Improper or abusive collection methods are being used by either or both of the collection agencies operating under common management.

     (d) Either or both of the collection agencies operating under common management are not conducting their affairs in compliance with chapter 649 of NRS or any of the regulations of the Commissioner adopted under that chapter.

     (e) Insufficient time is being devoted by the manager to the affairs of one or the other collection agencies operating under common management.

     [Banking Div., Collection Agency Reg. No. 120, eff. 5-3-74]—(NAC A by Admstr. of Financial Institutions, eff. 6-29-84; A by Comm’r of Financial Institutions by R111-06, 6-28-2006)—(Substituted in revision for NAC 649.110)