2014 Nevada Revised Statutes
Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services
NRS 604A.465 - Payment of loan in full.

1. A customer may pay a 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 loan, or any extension thereof, is due.

2. If a customer pays the 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:

(1) If the customer gave to the licensee a check or a written authorization for an electronic transfer of money to initiate a deferred deposit loan, the check or the written authorization stamped void ;

(2) If the customer gave to the licensee a promissory note to initiate a high-interest loan, the promissory note stamped void or a receipt stamped paid in full ; or

(3) If the customer gave to the licensee a title to a vehicle to initiate a title loan, the title; 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 loan;

(3) The date of the payment;

(4) The amount paid;

(5) An itemization of interest, charges and fees;

(6) A statement that the 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)