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Nevada Auto Repossession Licensing Requirements


Nevada_auto_repossession_licensing_requirements

Nevada Auto Repossession Licensing Requirements

The Nevada State Private Investigators Licensing Board was established in 1949 by the Nevada State Legislature. This state agency is responsible for issuing licenses to auto repossession companies doing business in Nevada. Chapter 648 of the Nevada Revised Statutes mandates the board to regulate the standards of conduct for the profession, investigate complaints, examine, audit and take disciplinary action against licensees who have violated the statutes. Board membership consists of a licensed private investigator, a licensed private patrolman, and a licensed polygraph examiner. Also one member must be a member of the general public.

A person who engages in the business or accepts employment to locate or recover personal property that has been sold under a conditional sales agreement or is subject to any other security must be licensed by the Nevada State Private Investigators Licensing Board. The applicant must be 21 years of age and a US citizen or lawfully entitled to remain and work in the US. He or she must also be of good moral character, possess temperate habits, and be free of felony convictions or a crime involving moral turpitude or the illegal use or possession of a dangerous weapon. The applicant must undergo a criminal background check through the FBI, the Nevada Highway Patrol, and the California Department of Justice if ever resided in or visited California. Furthermore, he or she must have 5 years (2000 hours each year, totaling 10,000 hours) of repossession experience certified by the applicants’ employer. Finally, the applicant must pass a 50 question one-hour test with a score of at least 75%.

The application fees include a non-refundable $20 per application fee, a background investigation deposit of $750 for the first category license and a $250 fee for each additional license. Nevada residents that apply are responsible for the entire investigation fee which has a $750 cap for a first category license and a $500 cap for each additional category license applied for. Corporate applicants or individuals that are not Nevada residents are liable for the entire investigation fee and there is no cap for these applicants.

The examination fee is $100 per category with an abeyance fee of $100 per license per year. The initial license is $500, but is prorated. The annual license renewal is $500 per year per license.

Before issuing any license or renewal license, the board requires proof that the applicant or licensee is covered by an insurance policy for protection against liability to third persons. The limits of liability in amounts not less that $200,000 written by an insurance company authorized to do business in Nevada. This may be waived if it is proven that the applicant possesses and can continue to possess sufficient means to act as a self-insurer against that liability. The insurance policy or self insurance must be maintained and if the insurance lapses the license will be suspended ten days after the board is notified of the lapse.

Exam dates are January, April, July and October and the board meets March, June, September and December. Upon completion of the application and receipt of all requested information, documents and monies, you will be notified of the exam date. A background investigation will be conducted and you will be notified of the time and date of the board hearing.

For corporate applications, please visit the Nevada State Private Investigators Licensing Board website at nevadapilb.glsuite.us/

RecoveryStandard.com: Repossession company compliance training, agent certification, and continuing education for the repossession industry. Call Toll Free: 888.808.9914