Nevada § 604A.5048 Prohibited acts by licensee: Accepting collateral or other types of security; failing to make certain disclosures; taking incomplete instruments; requiring the purchase of insurance or other goods or services; failing to comply with payment plan; charging fee to cash certain checks

Nevada Statutes

§ 604A.5048 — Prohibited acts by licensee: Accepting collateral or other types of security; failing to make certain disclosures; taking incomplete instruments; requiring the purchase of insurance or other goods or services; failing to comply with payment plan; charging fee to cash certain checks

Nevada § 604A.5048

Title 52TRADE REGULATIONS AND PRACTICES

Ch. 604ADeferred

High-Interest Loan Services

This text of Nevada § 604A.5048 (Prohibited acts by licensee: Accepting collateral or other types of security; failing to make certain disclosures; taking incomplete instruments; requiring the purchase of insurance or other goods or services; failing to comply with payment plan; charging fee to cash certain checks) 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.5048 (2026).

Text

A licensee who operates a high-interest loan service shall not: 1. Accept:

(a)Collateral as security for a high-interest loan.

(b)An assignment of wages, salary, commissions or other compensation for services, whether earned or to be earned, as security for a high-interest loan.

(c)A check as security for a high-interest loan. 2. Take any note or promise to pay which does not disclose the date and amount of the high-interest 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. 3. Take any instrument, including a check

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A licensee who operates a high-interest loan service shall not:
1. Accept:
(a) Collateral as security for a high-interest loan.
(b) An assignment of wages, salary, commissions or other compensation for services, whether earned or to be earned, as security for a high-interest loan.
(c) A check as security for a high-interest loan.
2. Take any note or promise to pay which does not disclose the date and amount of the high-interest 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.
3. Take any instrument, including a check or written authorization for an electronic transfer of money, in which blanks are left to be filled in after the high-interest loan is made.
4. Make any transaction contingent on the purchase of insurance or any other goods or services or sell any insurance to the customer with the high-interest loan.
5. Fail to comply with a payment plan which is negotiated and agreed to by the licensee and customer.
6. Charge any fee to cash a check representing the proceeds of a high-interest loan made by the licensee or any agent, affiliate or subsidiary of the licensee.