Nevada § 675.361 Terms of written agreement

Nevada Statutes

§ 675.361 — Terms of written agreement

Nevada § 675.361

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 675Installment

LOANS FOR INDEFINITE TERM

This text of Nevada § 675.361 (Terms of written agreement) 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. § 675.361 (2026).

Text

A licensee may make a loan for an indefinite term under a written agreement between the licensee and the borrower. Pursuant to this agreement:

1.The borrower may obtain cash advances from the licensee periodically by a check, draft, credit card or any other means or the licensee may pay out money at the borrower’s direction or on his or her behalf;

2.An open-end account must be established for the borrower and the amount of each cash advance made to the borrower and any interest, charges and other costs must be debited to that account and any payments on the loan or other credits must be credited to that account;

3.The interest and other charges must be computed periodically on the unpaid balance in the borrower’s account; and

4.The borrower may pay his or her account in full at any ti

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A licensee may make a loan for an indefinite term under a written agreement between the licensee and the borrower. Pursuant to this agreement:
1. The borrower may obtain cash advances from the licensee periodically by a check, draft, credit card or any other means or the licensee may pay out money at the borrower’s direction or on his or her behalf;
2. An open-end account must be established for the borrower and the amount of each cash advance made to the borrower and any interest, charges and other costs must be debited to that account and any payments on the loan or other credits must be credited to that account;
3. The interest and other charges must be computed periodically on the unpaid balance in the borrower’s account; and
4. The borrower may pay his or her account in full at any time without a penalty for prepayment, or if the account is not in default, in monthly installments of fixed or determinable amounts as provided in the agreement.