1. Before making a title loan to a customer, a licensee who operates a title 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 title 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 title loan, if any;
(c) The date and amount of the title 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 title loan pursuant to the provisions of this chapter;
(e) A disclosure of the right of the customer to pay his or her title 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 title loan, the licensee must offer a repayment plan to the customer before the licensee commences any civil action or process of alternative dispute resolution or, if appropriate for the loan, before the licensee repossesses a vehicle; 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)
Structure Nevada Revised Statutes
Chapter 604A - Deferred Deposit Loans, High-Interest Loans, Title Loans and Check-Cashing Services
NRS 604A.015 - "Automated loan machine" defined.
NRS 604A.020 - Cashing" defined.
NRS 604A.025 - "Check" defined.
NRS 604A.030 - "Check-cashing service" defined.
NRS 604A.035 - Commissioner" defined.
NRS 604A.036 - "Consumer credit" defined.
NRS 604A.038 - "Covered service member" defined.
NRS 604A.040 - Customer" defined.
NRS 604A.045 - "Default" defined.
NRS 604A.050 - "Deferred deposit loan" defined.
NRS 604A.055 - "Deferred deposit loan service" defined.
NRS 604A.057 - "Dependent" defined.
NRS 604A.060 - "Electronic transfer of money" defined.
NRS 604A.065 - "Extension" defined.
NRS 604A.070 - "Grace period" defined.
NRS 604A.0703 - "High-interest loan" defined.
NRS 604A.0705 - "High-interest loan service" defined.
NRS 604A.075 - "Licensee" defined.
NRS 604A.080 - "Loan" defined.
NRS 604A.085 - "Refund anticipation loan" defined.
NRS 604A.090 - "Regulation Z" defined.
NRS 604A.105 - "Title loan" defined.
NRS 604A.110 - "Title loan service" defined.
NRS 604A.115 - "Title to a vehicle" or "title" defined.
NRS 604A.120 - "Truth in Lending Act" defined.
NRS 604A.125 - "Vehicle" defined.
NRS 604A.200 - Application of chapter to persons who seek to evade its provisions.
NRS 604A.210 - Chapter does not prohibit licensee from offering customer grace period; restrictions.
NRS 604A.220 - Uniformity of application and construction; resolution of conflicts.
NRS 604A.230 - Effect of amendment or repeal of chapter on preexisting lawful contracts.
NRS 604A.240 - Collection of loans made outside State.
NRS 604A.250 - Exemptions from chapter.
NRS 604A.315 - Commissioner required to investigate alleged violations of chapter.
NRS 604A.405 - Required notices and disclosures; regulations.
NRS 604A.501 - Limitations on original term.
NRS 604A.5012 - Written loan agreement required; contents.
NRS 604A.5014 - Requirements for collection of defaulted loan; civil action to collect debt; venue.
NRS 604A.5015 - Practices regarding customers who are members of military.
NRS 604A.5016 - Provision of information and materials concerning public assistance and services.
NRS 604A.5017 - Limitation regarding amount of loan.
NRS 604A.5018 - Prohibited acts by licensee regarding multiple loans to same customer.
NRS 604A.5023 - Rescission of loan by customer.
NRS 604A.5024 - Payment of loan in full.
NRS 604A.5025 - Partial payment on loan.
NRS 604A.5026 - Extended payment plan: Customer eligibility; requirements; restrictions; default.
NRS 604A.5027 - Repayment plan.
NRS 604A.503 - Limitations on amounts licensee may collect after default.
NRS 604A.5033 - Receipt required for each payment by customer; contents.
NRS 604A.5034 - Requirements regarding person acting as agent or assisting in making loan.
NRS 604A.570 - Required disclosures.
NRS 604A.571 - Prohibited fees.
NRS 604A.572 - Prohibited advertisements.
NRS 604A.573 - Required notices.
NRS 604A.574 - Limitations on extended term of loans.
NRS 604A.575 - Rescission of loan by customer.
NRS 604A.576 - Collection of past due accounts; prohibited acts.
NRS 604A.577 - Reporting violations of chapter.
NRS 604A.578 - Certain licensees required to offer repayment plan.
NRS 604A.5035 - Determination of whether loan is high-interest loan.
NRS 604A.5037 - Limitations on original term.
NRS 604A.504 - Written loan agreement required; contents.
NRS 604A.5041 - Requirements for collection of defaulted loan; civil action to collect debt; venue.
NRS 604A.5042 - Provision of information and materials concerning public assistance and services.
NRS 604A.5043 - Practices regarding customers who are members of military.
NRS 604A.5045 - Limitation regarding amount of loan.
NRS 604A.5046 - Prohibited acts by licensee regarding multiple loans to same customer.
NRS 604A.505 - Rescission of loan by customer.
NRS 604A.5052 - Payment of loan in full.
NRS 604A.5053 - Partial payment on loan.
NRS 604A.5055 - Repayment plan.
NRS 604A.5058 - Limitations on amounts licensee may collect after default.
NRS 604A.506 - Limitations on fees licensees may charge after default on installment payments.
NRS 604A.5063 - Receipt required for each payment by customer; contents.
NRS 604A.5064 - Requirements regarding person acting as agent or assisting in making loan.
NRS 604A.580 - Required disclosures.
NRS 604A.581 - Prohibited fees.
NRS 604A.582 - Prohibited advertisements.
NRS 604A.583 - Required notices.
NRS 604A.584 - Limitations on extended term of loans.
NRS 604A.585 - Rescission of loan by customer.
NRS 604A.586 - Collection of past due accounts; prohibited acts.
NRS 604A.587 - Reporting violations of chapter.
NRS 604A.588 - Certain licensees required to offer repayment plan.
NRS 604A.5067 - Written loan agreement required; contents.
NRS 604A.5068 - Requirements for collection of defaulted loan; civil action to collect debt; venue.
NRS 604A.507 - Practices regarding customers who are members of military.
NRS 604A.50705 - Provision of information and materials concerning public assistance and services.
NRS 604A.5074 - Restrictions on duration of loan and periods of extension.
NRS 604A.5078 - Applicability of Uniform Commercial Code; repossession of vehicle; civil action.
NRS 604A.5079 - Rescission of loan by customer.
NRS 604A.508 - Payment of loan in full.
NRS 604A.5081 - Partial payment on loan.
NRS 604A.5083 - Repayment plan.
NRS 604A.5085 - Limitations on amounts licensee may collect after default.
NRS 604A.5088 - Receipt required for each payment by customer; contents.
NRS 604A.5089 - Requirements regarding person acting as agent or assisting in making loan.
NRS 604A.590 - Required disclosures.
NRS 604A.591 - Prohibited fees.
NRS 604A.592 - Prohibited advertisements.
NRS 604A.593 - Required notices.
NRS 604A.594 - Rescission of loan by customer.
NRS 604A.595 - Collection of past due accounts; prohibited acts.
NRS 604A.596 - Reporting violations of chapter.
NRS 604A.597 - Certain licensees required to offer repayment plan.
NRS 604A.509 - Practices regarding customers who are members of military.
NRS 604A.5983 - Prohibited annual percentage rates.
NRS 604A.5985 - Required disclosures.
NRS 604A.5987 - Prohibited terms of consumer credit to covered service member.
NRS 604A.600 - Application for license.
NRS 604A.615 - Deposit of securities in lieu of surety bond.
NRS 604A.620 - Application for license for office or other place of business located outside State.
NRS 604A.625 - Investigation of applicant; notice; hearing; order.
NRS 604A.630 - Procedure upon denial of license.
NRS 604A.645 - Change of control of licensee: Notice; application to Commissioner.
NRS 604A.700 - Required books and records.
NRS 604A.710 - Investigation of businesses; examination of books and records by Commissioner.
NRS 604A.730 - Annual examinations by Commissioner; exceptions.
NRS 604A.740 - Fees for regulatory activities; penalties for failure to pay fees.
NRS 604A.760 - Fees for failure to submit reports.
NRS 604A.800 - Temporary suspension of license: Conditions; notice; hearing; terms of suspension.
NRS 604A.810 - Order to desist and refrain; action to enjoin violation; appointment of receiver.
NRS 604A.820 - Procedure for taking disciplinary action; authorized disciplinary action; grounds.
NRS 604A.830 - Additional grounds for disciplinary action.
NRS 604A.840 - Surrender of license by licensee; effect of surrender.
NRS 604A.900 - Remedies for certain willful violations.
NRS 604A.910 - Administrative fines for unlicensed activity.