Nevada § 604A.5017 Limitation regarding amount of loan

Nevada Statutes

§ 604A.5017 — Limitation regarding amount of loan

Nevada § 604A.5017

Title 52TRADE REGULATIONS AND PRACTICES

Ch. 604ADeferred

Deferred Deposit Loan Services

This text of Nevada § 604A.5017 (Limitation regarding amount of loan) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 604A.5017 (2026).

Text

1. A licensee who operates a deferred deposit loan service shall not make a deferred deposit loan that, in combination with any other outstanding loan of the customer, exceeds 25 percent of the expected gross monthly income of the customer when the deferred deposit loan is made. 2. A licensee who operates a deferred deposit loan service is not in violation of the provisions of this section if:

(a)The customer presents evidence of his or her gross monthly income to the licensee and represents to the licensee in writing that the deferred deposit loan does not exceed 25 percent of the customer’s expected gross monthly income when the loan is made; and

(b)The licensee has utilized the database established pursuant to NRS 604A.303 to ensure that the deferred deposit loan, in combination with

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1. A licensee who operates a deferred deposit loan service shall not make a deferred deposit loan that, in combination with any other outstanding loan of the customer, exceeds 25 percent of the expected gross monthly income of the customer when the deferred deposit loan is made.
2. A licensee who operates a deferred deposit loan service is not in violation of the provisions of this section if:
(a) The customer presents evidence of his or her gross monthly income to the licensee and represents to the licensee in writing that the deferred deposit loan does not exceed 25 percent of the customer’s expected gross monthly income when the loan is made; and
(b) The licensee has utilized the database established pursuant to NRS 604A.303 to ensure that the deferred deposit loan, in combination with any other outstanding loan of the customer, does not exceed 25 percent of the customer’s expected gross monthly income when the deferred deposit loan is made.