2014 Nevada Revised Statutes
Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services
NRS 604A.105 - Title loan defined.
1. Title loan means a loan made to a customer pursuant to a loan agreement which, under its original terms:
(a) Charges an annual percentage rate of more than 35 percent; and
(b) Requires the customer to secure the loan by either:
(1) Giving possession of the title to a vehicle legally owned by the customer to the licensee or any agent, affiliate or subsidiary of the licensee; or
(2) Perfecting a security interest in the vehicle by having the name of the licensee or any agent, affiliate or subsidiary of the licensee noted on the title as a lienholder.
2. The term does not include a loan which creates a purchase-money security interest in a vehicle or the refinancing of any such loan.
(Added to NRS by 2005, 1685; A 2007, 932)
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