1. Except as otherwise provided in subsection 2, if an agency has assigned a debt to the State Controller for collection pursuant to NRS 353C.195, the State Controller may enter into a contract with a private debt collector or any other person for the assignment of the collection of the debt if the State Controller:
(a) Determines the assignment is likely to generate more net revenue than equivalent efforts by the State Controller to collect the debt, including collection efforts pursuant to this chapter;
(b) Determines the assignment will not compromise future collections of state revenue; and
(c) Notifies the debtor in writing at his or her address of record that the debt will be turned over for private collection unless the debtor:
(1) Pays the debt in full; or
(2) Enters into an agreement, pursuant to NRS 353C.130, for the payment of the debt on an installment basis.
2. A contract for the assignment of the collection of a debt may provide for:
(a) Payment by the State Controller to the private debt collector or other person of the costs of collection and fees for collecting the debt; or
(b) Collection by the private debt collector or other person from the debtor of the costs of collection and fees for collecting the debt.
(Added to NRS by 1999, 3445; A 2001, 1877; 2009, 1179)