NRS 675.035 - Applicability of chapter. [Effective through December 31, 2019.]

NV Rev Stat § 675.035 (2019) (N/A)

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The provisions of this chapter apply to any person who:

1. Makes installment loans that are not subject to regulation pursuant to chapter 604A of NRS;

2. Is an affiliate, subsidiary or holding company of a bank, national banking association, savings bank, trust company, savings and loan association, credit union, mortgage broker, mortgage banker, mortgage servicer as that term is defined in NRS 645F.063, thrift company or insurance company; and

3. Seeks to evade its application by any device, subterfuge or pretense, including, without limitation:

(a) Calling a loan by any other name;

(b) Using any agents, affiliates or subsidiaries in an attempt to avoid the application of the provisions of this chapter; or

(c) Having any affiliation or other business arrangement with an entity that is exempt from the provisions of this chapter pursuant to subsection 1 of NRS 675.040, the effect of which is to evade the provisions of this chapter, including, without limitation, making a loan while purporting to be the agent of such an exempt entity where the purported agent holds, acquires or maintains a material economic interest in the revenues generated by the loan.

(Added to NRS by 2007, 945; A 2007, 1967; 2013, 1250; 2015, 2812)

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NRS 675.035 - Applicability of chapter. [Effective January 1, 2020.]