A licensee who operates a title loan service shall not:
1. Accept:
(a) Collateral as security for a title loan, except that a title to a vehicle may be accepted as security for a title loan.
(b) An assignment of wages, salary, commissions or other compensation for services, whether earned or to be earned, as security for a title loan.
(c) A check as security for a title loan.
2. Take any note or promise to pay which does not disclose the date and amount of the title loan, amount financed, annual percentage rate, finance charge, total of payments, payment schedule and a description and the amount of every fee charged, regardless of the name given to the fee and regardless of whether the fee is required to be included in the finance charge under the Truth in Lending Act and Regulation Z.
3. Take any instrument, including a check or written authorization for an electronic transfer of money, in which blanks are left to be filled in after the title loan is made.
4. Make any transaction contingent on the purchase of insurance or any other goods or services or sell any insurance to the customer with the title loan.
5. Fail to comply with a payment plan which is negotiated and agreed to by the licensee and customer.
6. Charge any fee to cash a check representing the proceeds of a title loan made by the licensee or any agent, affiliate or subsidiary of the licensee.
(Added to NRS by 2005, 1691; A 2007, 936) — (Substituted in revision for part of NRS 604A.435)
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