Nevada Administrative Code Chapter 604d - NEW
Here’s a structured overview of Nevada Administrative Code Chapter 604d (“NEW”)—regulations implementing Nevada Revised Statutes Chapter 604D on Earned Wage Access Services, effective July 1, 2024:
📘 General Scope & Definitions
Chapter 604D governs both direct-to-consumer and employer-integrated earned wage access—where providers advance employees their earned but unpaid wages (leg.state.nv.us).
Key definitions (effective through Dec 31, 2029) include:
Provider, Licensee, User, Employer, Fee, Proceeds, Outstanding proceeds, etc., as defined in NRS 604D.010–.170 (leg.state.nv.us).
🎯 NAC Provisions (Sections 604d.Sec. 2–16)
✅ Eligibility & Ownership
Sec 4: Defines “owner” for licensing purposes — individuals holding ≥10% ownership interest in a business applying for a provider license (casetext.com).
Sec 7: Business applications must submit a full ownership list; Commissioner may require additional documentation from owners (casetext.com).
💰 Fees & Licensing
Sec 6:
Nonrefundable application fee: $1,000
License fee: $1,000
Annual renewal: $1,000
Late renewal also incurs $1,000 (regulations.justia.com).
Sec 8: Examination/audit fee: $75/hour. Late payment penalties apply (10% + 1% per month), subject to waiver. Nonpayment can lead to license revocation (regulations.justia.com).
📣 Marketing & Advertising
Sec 12: Prohibits misleading or confusing advertising. Commissioner may require preapproval of ads found during examinations (regulations.justia.com).
🚫 Fees & Cancellations
Sec 5: Prohibits any cancellation fee—regardless of label—for users exiting earned-wage agreements (casetext.com).
⚖️ Enforcement & Discipline
Sec 15: Commissioner has authority to revoke or suspend licenses for:
Violations of Chapter provisions or NRS 604D
Non-cooperation during audits/investigations
Adjudication follows NRS 604D procedures (casetext.com).
🔗 Relationship to Statute (NRS) & Effective Dates
NAC aligns closely with SB 290 (2023 session), implementing NRS 604D provisions (NRS 604D.180, etc.) (casetext.com).
All NAC sections became effective July 1, 2024, and will remain in force through December 31, 2029 (leg.state.nv.us).
📝 Summary Table
| Section | Topic | Highlights |
|---|---|---|
| 604d.Sec 4 | “Owner” definition | ≥10% ownership disqualifier |
| 604d.Sec 5 | Cancellation fees | Broad prohibition |
| 604d.Sec 6 | Licensing fees | $1,000 each for application, license, renewal |
| 604d.Sec 7 | Ownership disclosure | List of owners required |
| 604d.Sec 8 | Examination fees & penalties | $75/hour + late penalties |
| 604d.Sec 12 | Advertising rules | Must not confuse/mislead |
| 604d.Sec 15 | Disciplinary actions | Revocation/suspension grounds |
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