1. 1. The Secretary of State shall suspend a state business license if the State Controller has informed the Secretary of State pursuant to subsection 5 of NRS 353C.1965 that the holder of the state business license owes a debt to an agency that has been assigned to the State Controller for collection and the holder has not:

   1. (a) Satisfied the debt;
   2. (b) Entered into an agreement for the payment of the debt pursuant to NRS 353C.130; or
   3. (c) Demonstrated to the State Controller that the debt is not valid.

2. 2. The Secretary of State shall reinstate a state business license that was suspended pursuant to subsection 1 if the State Controller notifies the Secretary of State in writing that the holder of the state business license has:

   1. (a) Satisfied the debt;
   2. (b) Entered into an agreement for the payment of the debt pursuant to NRS 353C.130; or
   3. (c) Demonstrated to the State Controller that the debt is not valid.

3. 3. As used in this section:

   1. (a) “Agency” has the meaning ascribed to it in NRS 353C.020.
   2. (b) “Debt” has the meaning ascribed to it in NRS 353C.040.

(Added to NRS by 2021, 2273)