reglab/statecodes huggingface dataset:
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5012 - Written loan agreement required; contents.

1. Before making a deferred deposit loan to a customer, a licensee who operates a deferred deposit loan service shall provide to the customer a written loan agreement which may be kept by the customer and which must be written in:
(a) English, if the transaction is conducted in English; or
(b) Spanish, if the transaction is conducted in Spanish.
2. The loan agreement for a deferred deposit loan must include, without limitation, the following information:
(a) The name and address of the licensee and the customer;
(b) The nature of the security for the deferred deposit loan, if any;
(c) The date and amount of the deferred deposit loan, amount financed, annual percentage rate, finance charge, total of payments, payment schedule and a description and the amount of every fee charged, regardless of the name given to the fee and regardless of whether the fee is required to be included in the finance charge under the Truth in Lending Act and Regulation Z;
(d) A disclosure of the right of the customer to rescind a deferred deposit loan pursuant to the provisions of this chapter;
(e) A disclosure of the right of the customer to pay his or her deferred deposit loan in full or in part with no additional charge pursuant to the provisions of this chapter;
(f) A disclosure stating that, if the customer defaults on the deferred deposit loan, the licensee must offer a repayment plan to the customer before the licensee commences any civil action or process of alternative dispute resolution; and
(g) Any other disclosures required under the Truth in Lending Act and Regulation Z or under any other applicable federal or state statute or regulation.
(Added to NRS by 2005, 1689; A 2007, 935)—(Substituted in revision for part of NRS 604A.410)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5014 - Requirements for collection of defaulted loan; civil action to collect debt; venue.

1. If a customer defaults on a deferred deposit loan, the licensee who operates a deferred deposit loan service may collect the debt owed to the licensee only in a professional, fair and lawful manner. When collecting such a debt, the licensee must act in accordance with and must not violate sections 803 to 812, inclusive, of the federal Fair Debt Collection Practices Act, as amended, 15 U.S.C. §§ 1692a to 1692j, inclusive, even if the licensee is not otherwise subject to the provisions of that Act.
2. If a licensee who operates a deferred deposit loan service commences a civil action against a customer to collect a debt, the court may award:
(a) Court costs;
(b) Costs of service of process, except that the costs must not exceed the amount of the fees charged by the sheriff or constable for service of process in the county where the action was brought or, if the customer was not served in that county, in the county where the customer was served; and
(c) Reasonable attorney’s fees. In determining the amount of the attorney’s fees and whether they are reasonable, the court shall consider the complexity of the case, the amount of the debt and whether the licensee could have used less costly means to collect the debt.
3. Notwithstanding any provision of NRS 66.010 to the contrary, if:
(a) A licensee who operates a deferred deposit loan service intends to commence a civil action in a Justice Court against a customer to collect a debt; and
(b) The customer resides in the county where the deferred deposit loan was made,
the licensee is required to commence the civil action in the Justice Court for the township where the deferred deposit loan was made unless, after the date of default and before the licensee commences the civil action, the customer signs an affidavit agreeing to try the action in another Justice Court having jurisdiction over the subject matter and the parties. A licensee who operates a deferred deposit loan service shall not, directly or indirectly, require, intimidate, threaten or coerce a customer to sign such an affidavit.
(Added to NRS by 2005, 1689)—(Substituted in revision for part of NRS 604A.415)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5015 - Practices regarding customers who are members of military.

Notwithstanding any other provision of law:
1. If a customer who receives or attempts to receive deferred deposit loan services is a member of the military, a licensee who operates a deferred deposit loan service shall:
(a) Honor the terms of any repayment plan between the licensee and customer, including, without limitation, any repayment plan negotiated through military counselors or third-party credit counselors.
(b) Honor any proclamation by a base commander that a certain branch location of the licensee is off-limits to members of the military and their spouses.
2. If a customer who receives or attempts to receive deferred deposit loan services is a member of the military, a licensee who operates a deferred deposit loan service shall not:
(a) Garnish or threaten to garnish any wages or salary of the customer or the customer’s spouse; or
(b) Contact or threaten to contact the military chain of command of a customer in an effort to collect the deferred deposit loan.
3. If a customer who receives or attempts to receive deferred deposit loan services is a member of the military and is deployed to a combat or combat supporting position, a licensee who operates a deferred deposit loan service shall not engage in any collection activity against the customer or the customer’s spouse.
4. As used in this section, "military" means the Armed Forces of the United States, a reserve component thereof or the National Guard.
(Added to NRS by 2005, 1690; A 2007, 935, 2847)—(Substituted in revision for part of NRS 604A.420)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5016 - Provision of information and materials concerning public assistance and services.

A person who operates a deferred deposit loan service may, in consultation with the Department of Health and Human Services, distribute in a location at which the person conducts business under his or her license information and materials provided by the Department concerning public assistance and services provided by an agency or political subdivision of this State or the United States, including, without limitation, programs for debt reduction or relief, Medicaid, Supplemental Nutrition Assistance and Temporary Assistance for Needy Families.
(Added to NRS by 2019, 943)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5017 - Limitation regarding amount of loan.

1. A licensee who operates a deferred deposit loan service shall not make a deferred deposit loan that, in combination with any other outstanding loan of the customer, exceeds 25 percent of the expected gross monthly income of the customer when the deferred deposit loan is made.
2. A licensee who operates a deferred deposit loan service is not in violation of the provisions of this section if:
(a) The customer presents evidence of his or her gross monthly income to the licensee and represents to the licensee in writing that the deferred deposit loan does not exceed 25 percent of the customer’s expected gross monthly income when the loan is made; and
(b) The licensee has utilized the database established pursuant to NRS 604A.303 to ensure that the deferred deposit loan, in combination with any other outstanding loan of the customer, does not exceed 25 percent of the customer’s expected gross monthly income when the deferred deposit loan is made.
(Added to NRS by 2005, 1690; A 2007, 936; 2019, 944)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5018 - Prohibited acts by licensee regarding multiple loans to same customer.

1. A licensee who operates a deferred deposit loan service shall not make more than one deferred deposit loan, single-advance, single-payment loan or high-interest loan to the same customer at one time or before any outstanding balance is paid in full on an existing loan made by that licensee to the customer unless:
(a) The customer is seeking multiple loans that do not exceed the limits set forth in NRS 604A.5017 or 604A.5045, as applicable;
(b) The licensee charges the same or a lower fee or service charge per $100 if it is a deferred deposit loan or single-advance, single-payment loan, or the same or a lower annual percentage rate of interest if it is a high-interest loan that is not a single-advance, single-payment loan, for any additional loans as the licensee charged for the initial loan;
(c) Except for that part of the finance charge which consists of interest only, the licensee does not impose any other charge or fee to initiate any additional loans, except that a licensee who makes deferred deposit loans or high-interest loans in accordance with the provisions of subsection 2 of NRS 604A.5029 or subsection 2 of NRS 604A.5057, as applicable, may charge a reasonable fee for preparing documents in an amount that does not exceed $50; and
(d) If the additional loans are deferred deposit loans and the customer provides one or more additional checks that are not paid upon presentment or one or more electronic transfers of money fail, the licensee does not charge any fees to the customer pursuant to NRS 604A.5031, except for the fees allowed pursuant to that section for the first check that is not paid upon presentment or electronic transfer of money that failed.
2. As used in this section, "single-advance, single-payment loan" means a transaction in which, pursuant to a loan agreement, a customer is given a single advance equal to the amount financed with payment in full due within 35 days after the date of the transaction.
(Added to NRS by 2005, 1690; A 2007, 936)—(Substituted in revision for part of NRS 604A.430)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.502 - Prohibited acts by licensee: Accepting collateral or other types of security; failing to make certain disclosures; taking incomplete instruments; requiring the purchase of insurance or other goods or services; failing to comply with payment plan; charging fee to cash certain checks.

A licensee who operates a deferred deposit loan service shall not:
1. Accept:
(a) Collateral as security for a deferred deposit loan.
(b) An assignment of wages, salary, commissions or other compensation for services, whether earned or to be earned, as security for a deferred deposit loan.
(c) More than one check or written authorization for an electronic transfer of money for each deferred deposit loan.
(d) A check or written authorization for an electronic transfer of money for any deferred deposit loan in an amount which exceeds the total of payments set forth in the disclosure statement required by the Truth in Lending Act and Regulation Z that is provided to the customer.
2. Take any note or promise to pay which does not disclose the date and amount of the deferred deposit loan, amount financed, annual percentage rate, finance charge, total of payments, payment schedule and a description and the amount of every fee charged, regardless of the name given to the fee and regardless of whether the fee is required to be included in the finance charge under the Truth in Lending Act and Regulation Z.
3. Take any instrument, including a check or written authorization for an electronic transfer of money, in which blanks are left to be filled in after the deferred deposit loan is made.
4. Make any transaction contingent on the purchase of insurance or any other goods or services or sell any insurance to the customer with the deferred deposit loan.
5. Fail to comply with a payment plan which is negotiated and agreed to by the licensee and customer.
6. Charge any fee to cash a check representing the proceeds of a deferred deposit loan made by the licensee or any agent, affiliate or subsidiary of the licensee.
(Added to NRS by 2005, 1691; A 2007, 936)—(Substituted in revision for part of NRS 604A.435)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5021 - Prohibited acts by licensee: Improper lending and collection practices; deceptive trade practices; false, misleading and deceptive advertising; reinitiating certain transactions; using agent, affiliate or subsidiary to avoid requirements or prohibitions of chapter.

A licensee who operates a deferred deposit loan service shall not:
1. Use or threaten to use the criminal process in this State or any other state, or any civil process not available to creditors generally, to collect on a deferred deposit loan made to a customer.
2. Commence a civil action or any process of alternative dispute resolution before the customer defaults under the original term of a loan agreement or before the customer defaults under any repayment plan or extension negotiated and agreed to by the licensee and customer, unless otherwise authorized pursuant to this chapter.
3. Take any confession of judgment or any power of attorney running to the licensee or to any third person to confess judgment or to appear for the customer in a judicial proceeding.
4. Include in any written agreement:
(a) A promise by the customer to hold the licensee harmless;
(b) A confession of judgment by the customer;
(c) An assignment or order for the payment of wages or other compensation due the customer; or
(d) A waiver of any claim or defense arising out of the loan agreement or a waiver of any provision of this chapter. The provisions of this paragraph do not apply to the extent preempted by federal law.
5. Engage in any deceptive trade practice, as defined in chapter 598 of NRS, including, without limitation, making a false representation.
6. Advertise or permit to be advertised in any manner any false, misleading or deceptive statement or representation with regard to the rates, terms or conditions for deferred deposit loans.
7. Reinitiate an electronic debit transaction that has been returned by a customer’s bank except in accordance with the rules prescribed by the National Automated Clearing House Association or its successor organization.
8. Use or attempt to use any agent, affiliate or subsidiary to avoid the requirements or prohibitions of this chapter.
(Added to NRS by 2005, 1691; A 2017, 1441)—(Substituted in revision for part of NRS 604A.440)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5023 - Rescission of loan by customer.

1. A customer may rescind a deferred deposit loan on or before the close of business on the next day of business at the location where the deferred deposit loan was initiated. To rescind the deferred deposit loan, the customer must deliver to the licensee:
(a) A sum of money equal to the face value of the deferred deposit loan, less any fee charged to the customer to initiate the deferred deposit loan; or
(b) The original check, if any, which the licensee gave to the customer pursuant to the deferred deposit loan. Upon receipt of the original check, the licensee shall refund any fee charged to the customer to initiate the deferred deposit loan.
2. If a customer rescinds a deferred deposit loan pursuant to this section, the licensee:
(a) Shall not charge the customer any fee for rescinding the deferred deposit loan; and
(b) Upon receipt of the sum of money or check pursuant to subsection 1, shall give to the customer a receipt showing the account paid in full and the check or written authorization given to initiate the deferred deposit loan which must be stamped "void."
(Added to NRS by 2005, 1693; A 2007, 937)—(Substituted in revision for part of NRS 604A.460)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5024 - Payment of loan in full.

1. A customer may pay a deferred deposit loan, or any extension thereof, in full at any time, without an additional charge or fee, before the date the customer’s final payment on the deferred deposit loan, or any extension thereof, is due.
2. If a customer pays the deferred deposit loan in full, including all interest, charges and fees negotiated and agreed to by the licensee and customer as permitted under this chapter, the licensee shall:
(a) Give to the customer the check or the written authorization used to initiate the deferred deposit loan which must be stamped "void"; and
(b) Give to the customer a receipt with the following information:
(1) The name and address of the licensee;
(2) The identification number assigned to the loan agreement or other information that identifies the deferred deposit loan;
(3) The date of the payment;
(4) The amount paid;
(5) An itemization of interest, charges and fees;
(6) A statement that the deferred deposit loan is paid in full; and
(7) If more than one loan made by the licensee to the customer was outstanding at the time the payment was made, a statement indicating to which loan the payment was applied.
(Added to NRS by 2005, 1693; A 2007, 938)—(Substituted in revision for part of NRS 604A.465)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5025 - Partial payment on loan.

1. A customer may make a partial payment on a deferred deposit loan, or any extension thereof, at any time without an additional charge or fee.
2. If a customer makes such a partial payment, the licensee shall give to the customer a receipt with the following information:
(a) The name and address of the licensee;
(b) The identification number assigned to the loan agreement or other information that identifies the deferred deposit loan;
(c) The date of the payment;
(d) The amount paid;
(e) An itemization of interest, charges and fees;
(f) The balance due on the deferred deposit loan; and
(g) If more than one loan made by the licensee to the customer was outstanding at the time the payment was made, a statement indicating to which loan the payment was applied.
(Added to NRS by 2005, 1694)—(Substituted in revision for part of NRS 604A.470)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5026 - Extended payment plan: Customer eligibility; requirements; restrictions; default.

1. A licensee who operates a deferred deposit loan service shall allow a customer with an outstanding deferred deposit loan to enter into an extended payment plan if the customer:
(a) Has not entered into an extended payment plan for the deferred deposit loan during the immediately preceding 12-month period; and
(b) Requests an extended repayment plan before the time the deferred deposit loan is due.
2. An extended payment plan entered into pursuant to subsection 1 must:
(a) Be in writing and be signed by the licensee and customer; and
(b) Provide a payment schedule of at least four payments over a period of at least 60 days.
3. An extended payment plan entered into pursuant to subsection 1 must not:
(a) Increase or decrease the amount owed under the deferred deposit loan.
(b) Include any interest or fees in addition to those charged under the terms of the deferred deposit loan.
4. If a customer defaults under an extended payment plan entered into pursuant to this section, the licensee may terminate the extended payment plan and accelerate the requirement to pay the amount owed.
(Added to NRS by 2017, 1438)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5029 - Limitations on using proceeds of new deferred deposit loan or high-interest loan to pay balance of outstanding deferred deposit loan; exceptions.

1. Except as otherwise provided in subsection 2, if a customer agrees in writing to establish or extend the period for the repayment, renewal, refinancing or consolidation of an outstanding deferred deposit loan by using the proceeds of a new deferred deposit loan or high-interest loan to pay the balance of the outstanding deferred deposit loan, the licensee shall not establish or extend the period beyond 60 days after the expiration of the initial loan period. The licensee shall not add any unpaid interest or other charges accrued during the original term of the outstanding deferred deposit loan or any extension of the outstanding deferred deposit loan to the principal amount of the new deferred deposit loan or high-interest loan.
2. This section does not apply to a new deferred deposit loan or high-interest loan if the licensee:
(a) Makes the new deferred deposit loan or high-interest loan to a customer pursuant to a loan agreement which, under its original terms:
(1) Charges an annual percentage rate of less than 200 percent;
(2) Requires the customer to make a payment on the loan at least once every 30 days;
(3) Requires the loan to be paid in full in not less than 150 days; and
(4) Provides that interest does not accrue on the loan at the annual percentage rate set forth in the loan agreement after the date of maturity of the loan;
(b) Performs a credit check of the customer with a major consumer reporting agency before making the loan;
(c) Reports information relating to the loan experience of the customer to a major consumer reporting agency;
(d) Gives the customer the right to rescind the new deferred deposit loan or high-interest loan within 5 days after the loan is made without charging the customer any fee for rescinding the loan;
(e) Participates in good faith with a counseling agency that is:
(1) Accredited by the Council on Accreditation of Services for Families and Children, Inc., or its successor organization; and
(2) A member of the National Foundation for Credit Counseling, or its successor organization; and
(f) Does not commence any civil action or process of alternative dispute resolution on a defaulted loan or any extension or repayment plan thereof.
(Added to NRS by 2005, 1696; A 2007, 940)—(Substituted in revision for part of NRS 604A.480)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.503 - Limitations on amounts licensee may collect after default.

1. If a customer defaults on a deferred deposit loan or on any extension or repayment plan relating to the deferred deposit loan, whichever is later, the licensee may collect only the following amounts from the customer, less all payments made before and after default:
(a) The unpaid principal amount of the deferred deposit loan.
(b) The unpaid interest, if any, accrued before the default at the annual percentage rate set forth in the disclosure statement required by the Truth in Lending Act and Regulation Z that is provided to the customer. If there is an extension, in writing and signed by the customer, relating to the deferred deposit loan, the licensee may charge and collect interest pursuant to this paragraph for a period not to exceed 60 days after the expiration of the initial loan period, unless otherwise allowed by NRS 604A.5029.
(c) The interest accrued after the expiration of the initial loan period or after any extension or repayment plan that is allowed pursuant to this chapter, whichever is later, at an annual percentage rate not to exceed the prime rate at the largest bank in Nevada, as ascertained by the Commissioner, on January 1 or July 1, as the case may be, immediately preceding the expiration of the initial loan period, plus 10 percent. The licensee may charge and collect interest pursuant to this paragraph for a period not to exceed 90 days. After that period, the licensee shall not charge or collect any interest on the deferred deposit loan.
(d) Any fees allowed pursuant to NRS 604A.5031 for a check that is not paid upon presentment or an electronic transfer of money that fails because the account of the customer contains insufficient funds or has been closed.
The sum of all amounts collected pursuant to paragraphs (b), (c) and (d) must not exceed the principal amount of the deferred deposit loan.
2. Except for the interest and fees permitted pursuant to subsection 1 and any other charges expressly permitted pursuant to NRS 604A.5018 and 604A.5027, the licensee shall not charge any other amount to a customer who receives a deferred deposit loan, including, without limitation, any amount or charge payable directly or indirectly by the customer and imposed directly or indirectly by the licensee as an incident to or as a condition of the extension of the period for the payment of the deferred deposit loan or the extension of credit. Such prohibited amounts include, without limitation:
(a) Any interest, other than the interest charged pursuant to subsection 1, regardless of the name given to the interest; or
(b) Any origination fees, set-up fees, collection fees, transaction fees, negotiation fees, handling fees, processing fees, late fees, default fees or any other fees, regardless of the name given to the fee.
(Added to NRS by 2005, 1697; A 2007, 941; 2013, 1517)—(Substituted in revision for part of NRS 604A.485)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5031 - Limitations on fees licensee may collect for check not paid upon presentment or failure of electronic transfer of money; standards for civil liability and criminal prosecution.

1. A licensee who operates a deferred deposit loan service may collect a fee of not more than $25 if a check is not paid upon presentment or an electronic transfer of money fails because the account of the customer contains insufficient funds or has been closed.
2. If the account of the customer contains insufficient funds, the licensee may collect only two fees of $25 each, regardless of the number of times the check is presented for payment or the electronic transfer of money is attempted.
3. If the account of the customer has been closed, the licensee may collect only one fee of $25, regardless of the number of times the check is presented or the electronic transfer of money is attempted for payment.
4. A customer who receives or attempts to receive a deferred deposit loan is not liable for damages pursuant to NRS 41.620 or to criminal prosecution for a violation of chapter 205 of NRS unless the customer acted with criminal intent.
(Added to NRS by 2005, 1698; A 2007, 942)—(Substituted in revision for part of NRS 604A.490)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5033 - Receipt required for each payment by customer; contents.

In addition to any other provision in this chapter, each time a customer who receives a deferred deposit loan makes a payment to a licensee who operates a deferred deposit loan service, the licensee shall give to the customer a receipt with the following information:
1. The name and address of the licensee;
2. The identification number assigned to the loan agreement or other information that identifies the deferred deposit loan;
3. The date of the payment;
4. The amount paid;
5. The balance due on the deferred deposit loan or, when the customer makes a final payment, a statement that the deferred deposit loan is paid in full; and
6. If more than one loan made by the licensee to the customer was outstanding at the time the payment was made, a statement indicating to which loan the payment was applied.
(Added to NRS by 2005, 1698)—(Substituted in revision for part of NRS 604A.495)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5034 - Requirements regarding person acting as agent or assisting in making loan.

1. A person shall not act as an agent for or assist a licensee who operates a deferred deposit loan service in the making of a deferred deposit loan unless the licensee complies with all applicable federal and state laws, regulations and guidelines.
2. The provisions of this section do not apply to the agent or assistant to a state or federally chartered bank, thrift company, savings and loan association, savings bank or industrial loan company if the state or federally chartered bank, thrift company, savings and loan association, savings bank or industrial loan company:
(a) Initially advances the loan proceeds to the customer; and
(b) Does not sell, assign or transfer a preponderant economic interest in the deferred deposit loan to the agent or assistant or an affiliate or subsidiary of the state or federally chartered bank, thrift company, savings and loan association, savings bank or industrial loan company, unless selling, assigning or transferring a preponderant economic interest is expressly permitted by the primary regulator of the state or federally chartered bank, thrift company, savings and loan association, savings bank or industrial loan company.
3. If a licensee who operates a deferred deposit loan service acts as an agent for or assists a state or federally chartered bank, thrift company, savings and loan association, savings bank or industrial loan company in the making of a deferred deposit loan and the licensee can show that the standards set forth in subsection 2 are satisfied, the licensee must comply with all other provisions in this chapter to the extent they are not preempted by other state or federal law.
(Added to NRS by 2005, 1698)—(Substituted in revision for part of NRS 604A.500)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.570 - Required disclosures.

1. A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter shall comply with the disclosure requirements of NRS 604A.405 and the Federal Truth in Lending Act. A loan agreement between such a licensee and a customer must fully disclose the terms of the transaction, including, without limitation, the amount of any fees charged for providing deferred deposit loan services represented in both a dollar amount and as an annual percentage rate.
2. A licensee described in subsection 1 shall prominently disclose in the loan agreement all fees charged for providing deferred deposit loan services to a customer before he or she enters into the transaction process.
(Added to NRS by 2015, 1144)—(Substituted in revision for part of NRS 604A.520)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.571 - Prohibited fees.

A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter shall not charge a fee for providing deferred deposit loan services that is prohibited by an applicable law or regulation of this State or federal law or regulation.
(Added to NRS by 2015, 1144)—(Substituted in revision for part of NRS 604A.525)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.572 - Prohibited advertisements.

A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter shall comply with the provisions of subsection 6 of NRS 604A.5021 prohibiting advertisements that are false, misleading or deceptive with regard to the rates, terms or conditions for deferred deposit loans.
(Added to NRS by 2015, 1144)—(Substituted in revision for part of NRS 604A.530)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.573 - Required notices.

A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter shall place the following notices on marketing materials and television, print, radio and Internet advertising when space or time reasonably permits:
1. Deferred deposit loans should be used for short-term financial needs only and not as a long-term financial solution; and
2. Customers with credit difficulties should seek credit counseling before entering into any deferred deposit loan transaction.
(Added to NRS by 2015, 1144)—(Substituted in revision for part of NRS 604A.535)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.574 - Limitations on extended term of loans.

A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter shall not allow a customer to extend, rollover, renew, refinance or consolidate any deferred deposit loan for a period longer than the period set forth in subsection 2 of NRS 604A.501.
(Added to NRS by 2015, 1145)—(Substituted in revision for part of NRS 604A.540)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.575 - Rescission of loan by customer.

A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter shall provide each customer with the ability to rescind any deferred deposit loan in accordance with the provisions of NRS 604A.5023.
(Added to NRS by 2015, 1145)—(Substituted in revision for part of NRS 604A.545)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.576 - Collection of past due accounts; prohibited acts.

A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter must collect past due accounts in a professional, fair and lawful manner in accordance with the provisions of NRS 604A.5021 and applicable provisions of the Federal Fair Debt Collection Practices Act, 15 U.S.C. § 1692 et seq., as amended. Such a licensee shall not use unlawful threats, intimidation or harassment to collect unpaid accounts.
(Added to NRS by 2015, 1145)—(Substituted in revision for part of NRS 604A.550)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.577 - Reporting violations of chapter.

A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter shall report to the Commissioner any person the licensee knows, or reasonably should know, is in violation of the provisions of this chapter within 30 days after the date the licensee knows, or reasonably should know, of the violation.
(Added to NRS by 2015, 1145)—(Substituted in revision for part of NRS 604A.555)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.578 - Certain licensees required to offer repayment plan.

A licensee who has been issued a license to operate a deferred deposit loan service pursuant to this chapter shall provide to any customer who is unable to repay a deferred deposit loan in accordance with the loan agreement between the licensee and the customer the opportunity to enter into a repayment plan pursuant to NRS 604A.5027. Such a licensee shall disclose the availability of such a repayment plan to any customer who is unable to repay a deferred deposit loan.
(Added to NRS by 2015, 1145)—(Substituted in revision for part of NRS 604A.560)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.579 - Licensee offering services through Internet website required to comply with applicable laws.

A licensee that offers deferred deposit loan services services through an Internet website must be licensed in each state, as applicable, where any of its customers reside and shall comply with any state or federal law or regulation applicable to such jurisdiction.
(Added to NRS by 2015, 1145)—(Substituted in revision for part of NRS 604A.565)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5035 - Determination of whether loan is high-interest loan.

1. Except as otherwise provided in this section, for the purposes of determining whether a loan is a high-interest loan, when determining whether a lender is charging an annual percentage rate of more than 40 percent, calculations must be made in accordance with the Truth in Lending Act and Regulation Z, except that every charge or fee, regardless of the name given to the charge or fee, payable directly or indirectly by the customer and imposed directly or indirectly by the lender must be included in calculating the annual percentage rate, including, without limitation:
(a) Interest;
(b) Application fees, regardless of whether such fees are charged to all applicants or credit is actually extended;
(c) Fees charged for participation in a credit plan, whether assessed on an annual, periodic or nonperiodic basis; and
(d) Prepaid finance charges.
2. The following charges and fees must be excluded from the calculation of the annual percentage rate pursuant to subsection 1:
(a) Any fees allowed pursuant to NRS 604A.5061 or 675.365 for a check not paid upon presentment or an electronic transfer of money that fails;
(b) Interest accrued after default pursuant to paragraph (c) of subsection 1 of NRS 604A.5058;
(c) Charges for an unanticipated late payment, exceeding a credit limit, or a delinquency, default or similar occurrence;
(d) Any premiums or identifiable charges for insurance permitted pursuant to NRS 675.300; and
(e) The fee allowed pursuant to NRS 604A.506.
3. Calculation of the annual percentage rate in the manner specified in this section is limited only to the determination of whether a loan is a high-interest loan and must not be used in compliance with the disclosure requirements of paragraph (g) of subsection 2 of NRS 604A.504 or any other provisions of this chapter requiring disclosure of an annual percentage rate in the making of a loan.
(Added to NRS by 2007, 930; A 2013, 1516)—(Substituted in revision for NRS 604A.407)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5037 - Limitations on original term.

1. Except as otherwise provided in this chapter, the original term of a high-interest loan must not exceed 35 days.
2. The original term of a high-interest loan may be up to 90 days if:
(a) The loan provides for payments in installments;
(b) The payments are calculated to ratably and fully amortize the entire amount of principal and interest payable on the loan;
(c) The loan is not subject to any extension;
(d) The loan does not require a balloon payment of any kind; and
(e) The loan is not a deferred deposit loan.
3. Notwithstanding the provisions of NRS 604A.5057, a licensee who operates a high-interest loan service shall not agree to establish or extend the period for the repayment, renewal, refinancing or consolidation of an outstanding high-interest loan for a period that exceeds 90 days after the date of origination of the loan.
(Added to NRS by 2007, 931; A 2017, 1440)—(Substituted in revision for part of NRS 604A.408)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5038 - Licensee required to make determination of ability of customer to repay loan and compliance of loan with certain requirements before making loan.

1. A licensee who operates a high-interest loan service shall not make a high-interest loan pursuant to this chapter unless the licensee determines pursuant to subsection 2 that the customer has the ability to repay the high-interest loan and that the high-interest loan complies with the provisions of NRS 604A.5045 or subsection 2 of NRS 604A.5057, as applicable.
2. For the purposes of subsection 1, a customer has the ability to repay a high-interest loan if the customer has a reasonable ability to repay the high-interest loan, as determined by the licensee after considering, to the extent available, the following underwriting factors:
(a) The current or reasonably expected income of the customer;
(b) The current employment status of the customer based on evidence including, without limitation, a pay stub or bank deposit;
(c) The credit history of the customer;
(d) The amount due under the original term of the high-interest loan, the monthly payment on the high-interest loan, if the high-interest loan is an installment loan, or the potential repayment plan if the customer defaults on the high-interest loan; and
(e) Other evidence, including, without limitation, bank statements, electronic bank statements and written representations to the licensee.
3. For the purposes of subsection 1, a licensee who operates a high-interest loan service shall not consider the ability of any person other than the customer to repay the high-interest loan.
(Added to NRS by 2017, 1438)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.504 - Written loan agreement required; contents.

1. Before making a high-interest loan to a customer, a licensee who operates a high-interest loan service shall provide to the customer a written loan agreement which may be kept by the customer and which must be written in:
(a) English, if the transaction is conducted in English; or
(b) Spanish, if the transaction is conducted in Spanish.
2. The loan agreement for the high-interest loan must include, without limitation, the following information:
(a) The name and address of the licensee and the customer;
(b) The nature of the security for the high-interest loan, if any;
(c) The date and amount of the high-interest loan, amount financed, annual percentage rate, finance charge, total of payments, payment schedule and a description and the amount of every fee charged, regardless of the name given to the fee and regardless of whether the fee is required to be included in the finance charge under the Truth in Lending Act and Regulation Z;
(d) A disclosure of the right of the customer to rescind a high-interest loan pursuant to the provisions of this chapter;
(e) A disclosure of the right of the customer to pay his or her high-interest loan in full or in part with no additional charge pursuant to the provisions of this chapter;
(f) A disclosure stating that, if the customer defaults on the high-interest loan, the licensee must offer a repayment plan to the customer before the licensee commences any civil action or process of alternative dispute resolution; and
(g) Any other disclosures required under the Truth in Lending Act and Regulation Z or under any other applicable federal or state statute or regulation.
(Added to NRS by 2005, 1689; A 2007, 935)—(Substituted in revision for part of NRS 604A.410)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5041 - Requirements for collection of defaulted loan; civil action to collect debt; venue.

1. If a customer defaults on a high-interest loan, the licensee who operates a high-interest loan service may collect the debt owed to the licensee only in a professional, fair and lawful manner. When collecting such a debt, the licensee must act in accordance with and must not violate sections 803 to 812, inclusive, of the federal Fair Debt Collection Practices Act, as amended, 15 U.S.C. §§ 1692a to 1692j, inclusive, even if the licensee is not otherwise subject to the provisions of that Act.
2. If a licensee who operates a high-interest loan service commences a civil action against a customer to collect a debt, the court may award:
(a) Court costs;
(b) Costs of service of process, except that the costs must not exceed the amount of the fees charged by the sheriff or constable for service of process in the county where the action was brought or, if the customer was not served in that county, in the county where the customer was served; and
(c) Reasonable attorney’s fees. In determining the amount of the attorney’s fees and whether they are reasonable, the court shall consider the complexity of the case, the amount of the debt and whether the licensee could have used less costly means to collect the debt.
3. Notwithstanding any provision of NRS 66.010 to the contrary, if:
(a) A licensee who operates a high-interest loan service intends to commence a civil action in a Justice Court against a customer to collect a debt; and
(b) The customer resides in the county where the high-interest loan was made,
the licensee is required to commence the civil action in the Justice Court for the township where the high-interest loan was made unless, after the date of default and before the licensee commences the civil action, the customer signs an affidavit agreeing to try the action in another Justice Court having jurisdiction over the subject matter and the parties. A licensee who operates a high-interest loan service shall not, directly or indirectly, require, intimidate, threaten or coerce a customer to sign such an affidavit.
(Added to NRS by 2005, 1689)—(Substituted in revision for part of NRS 604A.415)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5042 - Provision of information and materials concerning public assistance and services.

A person who operates a high-interest loan service may, in consultation with the Department of Health and Human Services, distribute in a location at which the person conducts business under his or her license information and materials provided by the Department concerning public assistance and services provided by an agency or political subdivision of this State or the United States, including, without limitation, programs for debt reduction or relief, Medicaid, Supplemental Nutrition Assistance and Temporary Assistance for Needy Families.
(Added to NRS by 2019, 943)
2023 Nevada Revised Statutes › Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services › NRS 604A.5043 - Practices regarding customers who are members of military.

Notwithstanding any other provision of law:
1. If a customer who receives or attempts to receive high-interest loan services is a member of the military, a licensee who operates a high-interest loan service shall:
(a) Honor the terms of any repayment plan between the licensee and customer, including, without limitation, any repayment plan negotiated through military counselors or third-party credit counselors.
(b)Honor any proclamation by a base commander that a certain branch location of the licensee is off-limits to members of the military and their spouses.
2. If a customer who receives or attempts to receive high-interest loan services is a member of the military, a licensee who operates a high-interest loan service shall not:
(a) Garnish or threaten to garnish any wages or salary of the customer or the customer’s spouse; or
(b) Contact or threaten to contact the military chain of command of a customer in an effort to collect the high-interest loan.
3. If a customer who receives or attempts to receive high-interest loan services is a member of the military and is deployed to a combat or combat supporting position, a licensee who operates a high-interest loan service shall not engage in any collection activity against the customer or the customer’s spouse.
4. As used in this section, "military" means the Armed Forces of the United States, a reserve component thereof or the National Guard.
(Added to NRS by 2005, 1690; A 2007, 935, 2847)—(Substituted in revision for part of NRS 604A.420)