Can I offer a freemium version of my product or service in Nevada? What are the requirements?

Here is your answer:

Offering a Freemium Version of a Product or Service in Nevada

If you want to offer a freemium version of your product or service in Nevada, you must comply with the requirements and limitations set forth in the Regulatory Experimentation Program for Product Innovation ^[1.5].

According to NVRS 657A.300, any financial product or service provided within the scope of the Program is subject to the following requirements and limitations:

1. Any consumer of the product or service must be a resident of Nevada on the date that the product or service is first provided to the consumer.
2. Not more than 5,000 consumers may be provided a given product or service by a participant during the period of testing, unless the Director approves a request for relief by a participant pursuant to NRS 657A.320, in which case not more than 7,500 consumers may be provided a given product or service by the participant during the period of testing.

Therefore, if you want to offer a freemium version of your product or service in Nevada, you must ensure that you comply with these requirements and limitations.

Note that this answer assumes that your product or service falls within the scope of the Regulatory Experimentation Program for Product Innovation. If it does not, please provide more information about your product or service so that we can provide a more accurate answer.

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Source(s):

• [1.1] Financial product or service provided within Program: Requirements and limitations.
• [1.2] “Financial product or service” or “product or service” defined.
• [1.3] Application to participate; requirements for application; fee.
• [1.4] Participant deemed to hold a license or other authorization.
• [3.2] Nationwide Multistate Licensing System and Registry: Commissioner authorized to take action to participate; charges for use; regulations; provisions do not replace or affect authority of Commissioner regarding licensing. [Effective on the date on which the Commissioner of Financial Institutions notifies the Governor and the Director of the Legislative Counsel Bureau that the Nationwide Multistate Licensing System and Registry has sufficient capabilities to allow the Commissioner to carry out the provisions of chapter 347, Statutes of Nevada 2021, at page 2030.]
• [1.5] Establishment of Program.
• [1.6] Issuance of registration upon approval of application; conditional approval of application.

Jurisdiction

Nevada

• General