1. “High-interest loan” means a loan made to a customer pursuant to a loan agreement which, under its original terms, charges an annual percentage rate of more than 40 percent.
2. The term includes, without limitation, any single-payment loan, installment loan, open-ended loan or contract for the lease of an animal for a purpose other than a business, commercial or agricultural purpose which, under the original terms of the loan or contract, charges an annual percentage rate of more than 40 percent.
3. The term does not include:
(a) A deferred deposit loan;
(b) A refund anticipation loan; or
(c) A title loan.
(Added to NRS by 2007, 930; A 2017, 1439)
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