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Nevada Revised Statutes Title 52. Trade Regulations and Practices § 604A.508. Payment of loan in full

Current as of January 01, 2021 | Updated by FindLaw Staff

1. A customer may pay a title loan, or any extension thereof, in full at any time, without an additional charge or fee, before the date the customer’s final payment on the title loan, or any extension thereof, is due.

2. If a customer pays the title loan in full, including all interest, charges and fees negotiated and agreed to by the licensee and customer as permitted under this chapter, the licensee shall give to the customer:

(a) The title to the vehicle given by the customer to the licensee to initiate the title loan;  and

(b) 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 title loan;

(3) The date of the payment;

(4) The amount paid;

(5) An itemization of interest, charges and fees;

(6) A statement that the title loan is paid in full;  and

(7) 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.

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Cite this article: FindLaw.com - Nevada Revised Statutes Title 52. Trade Regulations and Practices § 604A.508. Payment of loan in full - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-52-trade-regulations-and-practices/nv-rev-st-604a-508/

Read this complete Nevada Revised Statutes Title 52. Trade Regulations and Practices § 604A.508. Payment of loan in full on Westlaw

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