A revocation, suspension, expiration or surrender of any license does not impair or affect the obligation of any preexisting lawful loan agreement between the licensee and any customer. Such a loan agreement and all lawful charges thereon may be collected by the licensee, its successors or assigns.
NRS 604A.850
Preexisting contracts unaffected by revocation, suspension, expiration or surrender of license
Known as the Payday Lender Best Practices Act
The act spans §§ 604–604 (176 sections).
(Added to NRS by 2005, 1708)
Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.