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Current as of January 01, 2021 | Updated by FindLaw Staff
1. “Title loan” means a loan made to a customer pursuant to a loan agreement which, under its original terms:
(a) Charges an annual percentage rate of more than 35 percent; and
(b) Requires the customer to secure the loan by either:
(1) Giving possession of the title to a vehicle legally owned by the customer to the licensee or any agent, affiliate or subsidiary of the licensee; or
(2) Perfecting a security interest in the vehicle by having the name of the licensee or any agent, affiliate or subsidiary of the licensee noted on the title as a lienholder.
2. The term does not include a loan which creates a purchase-money security interest in a vehicle or the refinancing of any such loan.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 52. Trade Regulations and Practices § 604A.105. “Revised Statutes Title loan” defined - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-52-trade-regulations-and-practices/nv-rev-st-604a-105/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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