NAC: CHAPTER 649 - COLLECTION AGENCIES

[Rev. 6/7/2026 11:05:08 AM]

CHAPTER 649 - COLLECTION AGENCIES

[NAC-649 Revised Date: 4-26]

GENERAL PROVISIONS

649.010 Definitions.

649.011 “Affiliate” defined.

649.013 “Collection agency” defined.

649.015 “Division” defined.

649.020 “Machine-derived form letters” defined.

649.030 “Primary collection agency” defined.

649.035 “Principal place of business” defined.

649.040 “Secondary collection agency” defined.

649.045 “Sixty-day notification” or “60-day notification” defined.

ADMINISTRATION

649.060 Examination, audit or investigation of collection agency; fees; billing; failure to pay fees.

649.070 Assessment for costs related to audits and examinations.

649.076 Payment of expenses incurred during examination, investigation or audit.

649.081 Preparation and submission of trust account statements and reports of financial standing.

LICENSING AND CERTIFICATION

649.111 Licensing of certain community managers required.

649.120 Collection agencies: Fees.

649.151 Compliance managers: Fees.

649.161 Compliance managers: Waiver of examination.

649.170 Request for information from Commissioner for license or certification.

649.180 Debt buyers: Authorization to share license; liability and responsibility; inclusion of certain information with annual report.

COMPLIANCE MANAGERS

649.210 Responsibilities.

649.230 Notification of change of employment.

CONDUCT OF BUSINESS

649.250 Prerequisites to conducting business.

649.260 Use of fictitious names.

649.270 Depositories used for maintenance of certain separate accounts.

649.280 Use of machine-derived form letters.

649.282 Remote location: Prohibition against collection agent working outside United States.

649.284 Remote location: Request for evidence and information from Division.

649.286 Duty of collection agency to display certain information on Internet website.

649.288 Collection of medical debt: Interpretation of term “action to collect a medical debt.”

649.290 Collection of medical debt: 60-day notification to medical debtor required before taking action to collect.

649.292 Collection of medical debt: Provision to medical debtor of written notification.

649.294 Collection of medical debt: Action to collect medical debt prohibited during notification period; compliance with applicable provisions.

649.296 Collection of medical debt: Collection agency required to keep written verification of compliance with certain provisions.

DISCIPLINARY ACTION

649.310 Failure to file verified answer to complaint; confidentiality of complaint and certain related information.

649.320 Revocation or suspension of license: Violation of certain provisions of federal law.

649.330 Revocation or suspension of license or certificate: Violation of certain regulations or statutes; procedures.

649.340 Fine for failure to submit required report.

GENERAL PROVISIONS

NAC 649.010 Definitions. (NRS 649.053) As used in this chapter, unless the context otherwise requires, the words and terms defined in NAC 649.011 to 649.045, inclusive, have the meanings ascribed to them in those sections.

(Supplied in codification; A by Comm’r of Financial Institutions by R111-06, 6-28-2006; R055-21, 6-13-2022; R097-23, 6-20-2024)

NAC 649.011 “Affiliate” defined. (NRS 649.053) “Affiliate” has the meaning ascribed to it in NRS 649.375.

(Added to NAC by Comm’r of Financial Institutions by R097-23, eff. 6-20-2024)

NAC 649.013 “Collection agency” defined. (NRS 649.053) “Collection agency” means a person or entity which is licensed pursuant to NRS 649.075 to 649.167, inclusive.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006)

NAC 649.015 “Division” defined. (NRS 649.053) “Division” means the Division of Financial Institutions of the Department of Business and Industry.

(Added to NAC by Comm’r of Financial Institutions by R097-23, eff. 6-20-2024)

NAC 649.020 “Machine-derived form letters” defined. (NRS 649.053) “Machine-derived form letters” means letters which are automatically prepared by a machine and which are designed to be mailed without the addition of any further words to them, except for the addition of the appropriate names and addresses.

[Banking Div., Collection Agency Reg. No. 110 part A, eff. 5-3-74]

NAC 649.030 “Primary collection agency” defined. (NRS 649.053) “Primary collection agency” means any collection agency which is not a secondary collection agency.

[Banking Div., Collection Agency Reg. No. 110 part B, eff. 5-3-74]

NAC 649.035 “Principal place of business” defined. (NRS 649.053) “Principal place of business” means the physical location of a collection agency where:

1. The compliance manager of the collection agency performs his or her required functions and duties as prescribed by NRS 649.028 and NAC 649.210;

2. The officers and members of senior management of the collection agency:

(a) Direct, control and coordinate the business activities of the collection agency; and

(b) Oversee the daily operations of the collection agency; and

3. The books and records of the collection agency are maintained.

(Added to NAC by Comm’r of Financial Institutions by R097-23, eff. 6-20-2024)

NAC 649.040 “Secondary collection agency” defined. (NRS 649.053) “Secondary collection agency” means a collection agency which engages directly or indirectly in the solicitation or encouragement of debtors to pay delinquent debts directly to the debtors’ creditors through the use of machine-derived form letters.

[Banking Div., Collection Agency Reg. No. 110 part C, eff. 5-3-74]

NAC 649.045 “Sixty-day notification” or “60-day notification” defined. (NRS 649.053) “Sixty-day notification” or “60-day notification” means the written notification which a collection agency is required to send to a medical debtor not less than 60 days before taking any action to collect a medical debt pursuant to NRS 649.366.

(Added to NAC by Comm’r of Financial Institutions by R055-21, eff. 6-13-2022)

ADMINISTRATION

NAC 649.060 Examination, audit or investigation of collection agency; fees; billing; failure to pay fees. (NRS 649.053, 649.295, 658.101)

1. A collection agency shall allow the Commissioner to conduct an examination, audit or investigation of any accounts, books and records of the collection agency at any time. The Commissioner may revoke the license of a collection agency that does not allow him or her to conduct an examination, audit or investigation of any such accounts, books and records.

2. The Commissioner will charge and collect a fee of $75 per hour from each collection agency for any supervision, examination, audit, investigation or hearing conducted pursuant to this chapter and chapter 649 of NRS, including, without limitation, any examination, audit or investigation conducted pursuant to subsection 1.

3. The Commissioner will bill each collection agency upon the completion of the activity for the fee established in subsection 2. The fee must be paid within 30 days after the date on which the bill is received. In addition to any other fee allowed by this chapter or chapter 649 of NRS, and except as otherwise provided in this subsection, any payment received after that date must include a penalty of 10 percent of the fee plus an additional 1 percent of the fee for each month, or portion of a month, that the fee is not paid. The Commissioner may waive the penalty for good cause.

4. Failure of a collection agency to pay the fee required in subsection 2 as provided in this section constitutes grounds for revocation of its license.

(Added to NAC by Comm’r of Financial Institutions, eff. 4-20-88; A 11-27-89, eff. 7-1-89; R111-06, 6-28-2006; R054-16, 9-9-2016; R097-23, 6-20-2024)

NAC 649.070 Assessment for costs related to audits and examinations. (NRS 649.053, 649.300)

1. Except as otherwise provided in NAC 658.030, each primary and secondary collection agency shall pay to the Division of Financial Institutions of the Department of Business and Industry an annual assessment of $300 to cover the costs related to the employment of a certified public accountant and the performance of audits and examinations conducted by the Division.

2. The Division shall bill each collection agency for the assessment. The assessment must be paid within 30 days after the date on which the bill is received.

3. In addition to any other fee allowed by this chapter or chapter 649 of NRS, a charge of 10 percent of the assessment will be imposed on any collection agency whose assessment is received by the Division after the date on which the assessment is due.

(Added to NAC by Comm’r of Financial Institutions, eff. 12-17-87; A 5-27-92; R111-06, 6-28-2006)

NAC 649.076 Payment of expenses incurred during examination, investigation or audit. (NRS 649.053, 649.295, 658.101) In addition to all fees required by this chapter and chapter 649 of NRS, a collection agency shall pay the reasonable expenses for travel, meals and lodging of the Commissioner or a representative of the Commissioner incurred during any examination, investigation or audit made at an office or principal place of business of the collection agency which is located outside of this State.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)

NAC 649.081 Preparation and submission of trust account statements and reports of financial standing. (NRS 649.053, 649.056, 649.345) Each collection agency shall provide to the Commissioner, annually and before renewal of its license, a copy of all trust account statements, as applicable, and a report of its financial standing which must be prepared by a licensed certified public accountant who is in good standing in the state where the report is prepared.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)

LICENSING AND CERTIFICATION

NAC 649.111 Licensing of certain community managers required. (NRS 649.020, 649.053, 649.075)

1. In accordance with the definition of “collection agency” set forth in NRS 649.020, a community manager must be licensed as a collection agency pursuant to this chapter and chapter 649 of NRS if the community manager, or any employee, agent or affiliate of the community manager, performs or offers to perform any act associated with a foreclosure of a lien pursuant to NRS 116.31162 to 116.31168, inclusive.

2. As used in this section, “community manager” has the meaning ascribed to it in NRS 116.023.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006)

NAC 649.120 Collection agencies: Fees. (NRS 649.053, 649.295)

1. An application for licensure as a collection agency must be accompanied by a nonrefundable application fee of $375.

2. The applicant must pay an additional application fee of $300, prorated on the basis of the licensing year, as provided by the Commissioner, for each original license issued.

3. A collection agency shall pay the following fees:

(a) To renew a license, $375; and

(b) For a license for a transfer of location, $15.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)

NAC 649.151 Compliance managers: Fees. (NRS 649.053, 649.205, 649.295)

1. An application for a compliance manager’s certificate must be accompanied by:

(a) A nonrefundable fee of $300; and

(b) A nonrefundable investigation fee of $150.

2. An applicant must pay an additional application fee of $35 for issuance of the certificate.

3. The annual renewal fee for a compliance manager’s certificate is $35.

4. For each compliance manager’s certificate that is reinstated, the holder of the certificate shall pay a fee of $50.

5. An applicant who does not pass the examination provided for in NRS 649.205 and wishes to reapply must pay a reexamination fee of $100 for each subsequent examination.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)

NAC 649.161 Compliance managers: Waiver of examination. (NRS 649.053, 649.205) The Commissioner will waive the examination for an applicant for a compliance manager’s certificate pursuant to subsection 4 of NRS 649.205 if the applicant submits proof satisfactory to the Commissioner that the applicant’s certificate from the national association that is a nonprofit with expertise in the business of collections proves the competence of the applicant.

(Added to NAC by Comm’r of Financial Institutions by R097-23, eff. 6-20-2024)

NAC 649.170 Request for information from Commissioner for license or certification. (NRS 649.053) The Commissioner may request information deemed necessary to:

1. Determine whether an applicant for a license as a collection agency or a certificate as a compliance manager meets the requirements of this chapter and chapter 649 of NRS; and

2. Investigate an alleged violation of the provisions of this chapter or chapter 649 of NRS.

(Added to NAC by Comm’r of Financial Institutions by R097-23, eff. 6-20-2024)

NAC 649.180 Debt buyers: Authorization to share license; liability and responsibility; inclusion of certain information with annual report. (NRS 649.053, 649.056)

1. Pursuant to subsection 4 of NRS 649.075, a debt buyer may share a single license as a collection agency with one or more persons affiliated with the debt buyer if:

(a) Any such affiliated person purchases only claims and does not engage in any other collection activity, including, without limitation, employing a third party to collect a claim; and

(b) The Division approves the debt buyer adding each such affiliated person to the license of the debt buyer.

2. If a debt buyer shares a single license with one or more affiliated persons, the debt buyer is liable and responsible for any action of any such affiliated person who violates a provision of this chapter or chapter 649 of NRS. The debt buyer:

(a) Must promptly notify the Division if the debt buyer no longer wants to share a single license with an affiliated person; and

(b) Is liable and responsible for any action of an affiliated person until the Division receives the notification required pursuant to paragraph (a).

3. Upon request of the Commissioner, a debt buyer that shares a single license shall submit with its annual report filed with the Commissioner pursuant to NRS 649.345 a list of all affiliated persons with whom the debt buyer shares the license.

(Added to NAC by Comm’r of Financial Institutions by R097-23, eff. 6-20-2024)

COMPLIANCE MANAGERS

NAC 649.210 Responsibilities. (NRS 649.053, 649.056, 649.305)

1. The person who holds a valid compliance manager’s certificate and who is the designated compliance manager of a collection agency must have direct supervisory responsibility for employees who engage in collections in this State and must participate in the actual oversight and compliance of the collection agency.

2. The compliance manager must be available in person at the principal place of business of the agency in order to perform his or her required functions and duties.

[Banking Div., Collection Agency Reg. No. 1, eff. 1-14-71]—(NAC A by Comm’r of Financial Institutions by R111-06, 6-28-2006; R097-23, 6-20-2024)—(Substituted in revision for NAC 649.100)

NAC 649.230 Notification of change of employment. (NRS 649.053, 649.056) Each compliance manager holding a compliance manager’s certificate issued pursuant to chapter 649 of NRS shall notify the Commissioner in writing of any change of employment within 10 days after the change.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)

CONDUCT OF BUSINESS

NAC 649.250 Prerequisites to conducting business. (NRS 649.053, 649.056) A person shall not conduct business as a collection agency in this State unless:

1. The person possesses each license or permit required by this chapter, chapter 649 of NRS or a local governmental entity; and

2. The collection agency has a principal place of business that:

(a) Complies with all applicable planning and zoning ordinances; and

(b) Is located in the United States.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)

NAC 649.260 Use of fictitious names. (NRS 649.053, 649.056, 649.365)

1. A collection agency, or its compliance manager, agents or employees, shall not use a fictitious name in the collection of a claim unless that name has been filed with the Commissioner on a form provided by the Commissioner.

2. A compliance manager, agent or employee who has filed for the use of a fictitious name shall not use that fictitious name in association with another collection agency unless the Commissioner has been notified in writing of the change in association.

(Added to NAC by Comm’r of Financial Institutions, eff. 6-20-90; A by R097-23, 6-20-2024)—(Substituted in revision for NAC 649.075)

NAC 649.270 Depositories used for maintenance of certain separate accounts. (NRS 649.053, 649.056, 649.355) Each bank or credit union in which a collection agency maintains a separate account for purposes of NRS 649.355 must be insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or a private insurer approved pursuant to NRS 672.755.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)

NAC 649.280 Use of machine-derived form letters. (NRS 649.053, 649.056, 649.059)

1. All machine-derived form letters relating to debt that is past due must be submitted to the Commissioner for review during an examination or investigation or upon request by the Commissioner or a designee of the Commissioner.

2. A collection agency shall not use any machine-derived form letter that was found to be deficient or in violation of state or federal law during an examination or investigation until the deficiency or violation has been corrected. The corrected machine-derived form letter must be submitted to the Commissioner for review and written approval before use by the collection agency.

3. All machine-derived form letters, including a copy of each letter that has been returned as undeliverable along with the returned envelope or a record from a third-party delivery service evidencing the return, and any proof of mailing or proof of delivery are considered records for the purposes of NRS 649.335.

4. The Commissioner deems a 60-day notification to be a machine-derived form letter for the purposes of this section.

[Banking Div., Collection Agency Reg. No. 130, 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; R055-21, 6-13-2022)—(Substituted in revision for NAC 649.050)

NAC 649.282 Remote location: Prohibition against collection agent working outside United States. (NRS 649.053, 649.056) A collection agent shall not work from a remote location that is outside of the United States.

(Added to NAC by Comm’r of Financial Institutions by R097-23, eff. 6-20-2024)

NAC 649.284 Remote location: Request for evidence and information from Division. (NRS 649.053, 649.056) Upon request of the Commissioner, a collection agency shall provide to the Division:

1. Evidence that a collection agent working from a remote location has complied with the requirements set forth in NRS 649.310. Such evidence includes, without limitation:

(a) A copy of the signed written agreement described in subsection 1 of NRS 649.310;

(b) A description of the program of training that the collection agent completed pursuant to subsection 2 of NRS 649.310, including the date on which the collection agent completed such training; and

(c) The dates on which the collection agent worked for the collection agency under the direct oversight and mentoring from a supervisor pursuant to subsection 3 of NRS 649.310;

2. The date on which the collection agent began working from the remote location;

3. Evidence that the collection agent working from a remote location and the remote location from which the collection agent works comply with the requirements set forth in NRS 649.311;

4. The written security policy developed and implemented by the collection agency pursuant to NRS 649.312;

5. The record of collection agents who are authorized to work from a remote location maintained pursuant to paragraph (a) of subsection 4 of NRS 649.313;

6. Any recording of telephone calls performed by any collection agent conducting collection activities, regardless of whether the collection agent works from a remote location; and

7. The policies and procedures that govern the collection operations of the collection agency.

(Added to NAC by Comm’r of Financial Institutions by R097-23, eff. 6-20-2024)

NAC 649.286 Duty of collection agency to display certain information on Internet website. (NRS 649.053) To satisfy the requirements of NRS 649.320, a collection agency must display the information required pursuant to that section on the home page of its Internet website or another page of its Internet website that is clearly and conspicuously accessible from the home page of its Internet website.

(Added to NAC by Comm’r of Financial Institutions by R097-23, eff. 6-20-2024)

NAC 649.288 Collection of medical debt: Interpretation of term “action to collect a medical debt.” (NRS 649.053)

1. For the purposes of NRS 649.366 and 649.367, the Commissioner interprets the term “action to collect a medical debt” to mean any attempt by a collection agency or its manager, agents or employees to collect a medical debt from a medical debtor, including, without limitation:

(a) Placing telephone calls to the medical debtor.

(b) Sending letters and notices, other than a 60-day notification, to the medical debtor.

(d) Reporting the medical debt to any credit reporting agency.

(e) Demanding payment of the medical debt.

(f) Commencing any civil action against the medical debtor.

2. The Commissioner does not interpret the term to include:

(a) Any action initiated by a medical debtor;

(b) The provision to a medical debtor of clarification relating to the content of a 60-day notification by a collection agency or its manager, agents or employees if the contact is initiated by the medical debtor;

(d) Sending a receipt to a medical debtor for a voluntary payment.

(Added to NAC by Comm’r of Financial Institutions by R055-21, eff. 6-13-2022)

NAC 649.290 Collection of medical debt: 60-day notification to medical debtor required before taking action to collect. (NRS 649.053)

1. A collection agency must send a 60-day notification to a medical debtor when the medical debt is assigned to the collection agency unless the notification was previously sent by a prior collection agency.

2. In addition to the information required by NRS 649.366, a collection agency shall include, on the front of the 60-day notification:

(a) Within the body of the notification, in all capital letters and in at least 12-point bold type or font:

THIS IS NOT A DEMAND FOR PAYMENT.

(b) Within the body of the notification, in at least 12-point bold type or font:

This notice is to inform you that your medical debt described herein was [assigned to OR obtained by] us, [insert name of collection agency]. As provided in NRS 649.036 to 649.369, inclusive, we will not take any action to collect this debt within 60 days after the date of this letter. Any payments made toward the debt during this timeframe are considered voluntary and will not void the 60-day notification period described above.

This medical debt will not be reported to any credit reporting agency during the 60-day notification period.

Any voluntary payment you make toward this medical debt during the 60-day notification period will not extend the applicable statute of limitations, is not an admission of liability and shall not be construed as a waiver of any defense to the collection of the medical debt.

This notification is not intended to constitute a communication under the federal Fair Debt Collection Practices Act, 15 U.S.C. §§ 1692 et seq.

3. A 60-day notification sent pursuant to this section and NRS 649.366, is not intended to constitute a communication under the federal Fair Debt Collection Practices Act, 15 U.S.C. §§ 1692 et seq.

4. The Commissioner deems a 60-day notification to be a machine-derived form letter for the purposes of NAC 649.280.

(Added to NAC by Comm’r of Financial Institutions by R055-21, eff. 6-13-2022)

NAC 649.292 Collection of medical debt: Provision to medical debtor of written notification. (NRS 649.053) If applicable, a collection agency must provide to a medical debtor the written notice required by subsection 2 of NRS 649.332 not later than 5 days after the expiration of the 60-day notification period.

(Added to NAC by Comm’r of Financial Institutions by R055-21, eff. 6-13-2022)

NAC 649.294 Collection of medical debt: Action to collect medical debt prohibited during notification period; compliance with applicable provisions. (NRS 649.053) A collection agency shall not take any action to collect a medical debt less than 60 days after the date of mailing of the 60-day notification related to that debt. After the 60-day period has elapsed, the collection agency may proceed to attempt to collect the medical debt in compliance with the provisions of:

1. This chapter;

2. Chapter 649 of NRS;

3. The federal Fair Debt Collection Practices Act, 15 U.S.C. §§ 1692 et seq.;

4. The federal Fair Credit Reporting Act, 15 U.S.C. §§ 1681 et seq.; and

5. Any other state law relating to medical debt.

(Added to NAC by Comm’r of Financial Institutions by R055-21, eff. 6-13-2022)

NAC 649.296 Collection of medical debt: Collection agency required to keep written verification of compliance with certain provisions. (NRS 649.053) A collection agency shall keep written verification of its compliance with NRS 649.036 to 649.369, inclusive, as part of its records for an account even if a different collection agency provided the required 60-day notification for that account.

(Added to NAC by Comm’r of Financial Institutions by R055-21, eff. 6-13-2022)

DISCIPLINARY ACTION

NAC 649.310 Failure to file verified answer to complaint; confidentiality of complaint and certain related information. (NRS 649.053, 649.067, 649.385)

1. If a collection agency, an authorized representative of that collection agency or a compliance manager fails to file a verified answer to a complaint within the time prescribed by the Commissioner pursuant to NRS 649.385, the collection agency or compliance manager, as applicable, is deemed to have admitted to the allegations contained in the complaint.

2. Subject to the discretion of the Commissioner and except as otherwise provided in NRS 649.067 or other specific statute, a complaint filed with the Division, any documents filed with the complaint and any report or information resulting from an investigation of a complaint are confidential.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)

NAC 649.320 Revocation or suspension of license: Violation of certain provisions of federal law. (NRS 649.053, 649.395) The Commissioner will consider a violation by any collection agency, collection agent or compliance manager of any of the provisions of 15 U.S.C. §§ 1692b to 1692j, inclusive, as those sections existed on July 1, 1986, to be an act or omission inconsistent with the faithful discharge of the duties or obligations of a collection agency, collection agent or compliance manager and grounds for the suspension or revocation of the license or certificate of the collection agency, collection agent or compliance manager, as applicable.

[Banking Div., Harassment in Debt Collection Reg., eff. 1-17-79]—(NAC A by Admstr. of Financial Institutions, eff. 6-29-84; A by Comm’r of Financial Institutions, 5-19-88; R097-23, 6-20-2024)—(Substituted in revision for NAC 649.150)

NAC 649.330 Revocation or suspension of license or certificate: Violation of certain regulations or statutes; procedures. (NRS 649.053, 649.215, 649.395) The Commissioner may revoke or suspend the license of a collection agency or a compliance manager’s certificate if the collection agency or compliance manager, as applicable, violates any provision of this chapter or chapter 649 of NRS, including, without limitation, a provision that imposes a fee or assessment. A revocation or suspension of a license or certificate must be made in accordance with the procedures set forth in chapter 649 of NRS.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)

NAC 649.340 Fine for failure to submit required report. (NRS 649.053, 649.297) The holder of a license or a compliance manager’s certificate who fails to submit a report required pursuant to this chapter or chapter 649 of NRS on or before the applicable due date for the report will be fined $10 per day until the report is properly submitted to the Commissioner.

(Added to NAC by Comm’r of Financial Institutions by R111-06, eff. 6-28-2006; A by R097-23, 6-20-2024)