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NRS 604A.5063

Receipt required for each payment by customer; contents

Known as the Payday Lender Best Practices Act

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

(Added to NRS by 2005, 1698)—(Substituted in revision for part of NRS 604A.495)

In addition to any other provision in this chapter, each time a customer who receives a high-interest loan makes a payment to a licensee who operates a high-interest loan service, the licensee shall give to the customer a receipt with the following information:

1. The name and address of the licensee;

2. The identification number assigned to the loan agreement or other information that identifies the high-interest loan;

3. The date of the payment;

4. The amount paid;

5. The balance due on the high-interest loan or, when the customer makes a final payment, a statement that the high-interest loan is paid in full; and

6. If more than one loan made by the licensee to the customer was outstanding at the time the payment was made, a statement indicating to which loan the payment was applied.

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