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)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.