NRS 604A.050

“Deferred deposit loan” defined

Known as the Payday Lender Best Practices Act

The act spans §§ 604–604 (176 sections).

Applied in 5 court decisions — leading case Nev. Dep't of Bus. & Indus., Fin. Insts. Div. v. Dollar Loan Ctr., LLC (2018)

Most recently applied in STATE, DEP'T OF BUS. AND INDUS. VS. TITLEMAX OF NEV., INC. (September 2021)

(Added to NRS by 2005, 1684)

How often courts cite this section

citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

“Deferred deposit loan” means a transaction in which, pursuant to a loan agreement:

1. A customer tenders to another person:

(a) A personal check drawn upon the account of the customer; or

(b) Written authorization for an electronic transfer of money for a specified amount from the account of the customer; and

2. The other person:

(a) Provides to the customer an amount of money that is equal to the face value of the check or the amount specified in the written authorization for an electronic transfer of money, less any fee charged for the transaction; and

(b) Agrees, for a specified period, not to cash the check or execute an electronic transfer of money for the amount specified in the written authorization.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.