2020 Nevada Revised Statutes
Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services
NRS 604A.5052 - Payment of loan in full.
1. A customer may pay a high-interest 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 high-interest loan, or any extension thereof, is due.
2. If a customer pays the high-interest 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 promissory note used to initiate the high-interest loan which must be stamped "void" or a receipt stamped "paid in full"; 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 high-interest loan;
(3) The date of the payment;
(4) The amount paid;
(5) An itemization of interest, charges and fees;
(6) A statement that the high-interest 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)
