Nevada § 604A.050 - “Deferred deposit loan” defined
Full text of Nevada Nevada Revised Statutes § 604A.050 — “Deferred deposit loan” defined, with citation guidance and answers to common questions.
§ 604A.050. “Deferred deposit loan” defined
“ Deferred deposit loan ” means a transaction in which, pursuant to a loan agreement: 1. A customer tenders to another person: (a) A personal check drawn upon the account of the customer; or (b) Written authorization for an electronic transfer of money for a specified amount
from the account of the customer; and 2. The other person: (a) Provides to the customer an amount of money that is equal to the face value of
the check or the amount specified in the written authorization for an electronic transfer
of money, less any fee charged for the transaction; and (b) Agrees, for a specified period, not to cash the check or execute an electronic
transfer of money for the amount specified in the written authorization.
Frequently Asked Questions About Nevada § 604A.050
What does Nevada Revised Statutes § 604A.050 cover?
Section 604A.050 ("“Deferred deposit loan” defined") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 604A.050?
A common citation format is "Nevada Revised Statutes § 604A.050" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 604A.050 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.