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2021 Nevada Revised Statutes
Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services
NRS 604A.210 - Chapter does not prohibit licensee from offering customer grace period; restrictions.

Universal Citation:
NV Rev Stat § 604A.210 (2021)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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1. The provisions of this chapter do not prohibit a licensee from offering a customer a grace period on the repayment of a loan or an extension of a loan, except that the licensee shall not grant a grace period for the purpose of artificially increasing the amount which a customer would otherwise qualify to borrow.

2. Except in compliance with the provisions of NRS 604A.501, subsection 2 of NRS 604A.5029, NRS 604A.5037, subsection 2 of NRS 604A.5057 or NRS 604A.5074, where they apply, a licensee shall not:

(a) Condition the granting of the grace period on the customer making any new loan agreement or adding any addendum or term to an existing loan agreement; or

(b) Charge the customer interest at a rate in excess of that described in the existing loan agreement.

(Added to NRS by 2005, 1686; A 2017, 1439)

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