1. The provisions of this chapter do not prohibit a licensee from offering a customer a grace period on the repayment of a loan or an extension of a loan, except that the licensee shall not grant a grace period for the purpose of artificially increasing the amount which a customer would otherwise qualify to borrow.
2. Except in compliance with the provisions of NRS 604A.501, subsection 2 of NRS 604A.5029, NRS 604A.5037, subsection 2 of NRS 604A.5057 or NRS 604A.5074, where they apply, a licensee shall not:
(a) Condition the granting of the grace period on the customer making any new loan agreement or adding any addendum or term to an existing loan agreement; or
(b) Charge the customer interest at a rate in excess of that described in the existing loan agreement.