Nevada § 604A.5023 - Rescission of loan by customer
Full text of Nevada Nevada Revised Statutes § 604A.5023 — Rescission of loan by customer, with citation guidance and answers to common questions.
§ 604A.5023. Rescission of loan by customer
1. A customer may rescind a deferred deposit loan on or before the close of business
on the next day of business at the location where the deferred deposit loan was initiated. To rescind the deferred deposit loan, the customer must deliver to the licensee: (a) A sum of money equal to the face value of the deferred deposit loan, less any
fee charged to the customer to initiate the deferred deposit loan; or (b) The original check, if any, which the licensee gave to the customer pursuant to
the deferred deposit loan. Upon receipt of the original check, the licensee shall refund any fee charged to
the customer to initiate the deferred deposit loan. 2. If a customer rescinds a deferred deposit loan pursuant to this section, the licensee: (a) Shall not charge the customer any fee for rescinding the deferred deposit loan;
and (b) Upon receipt of the sum of money or check pursuant to subsection 1, shall give
to the customer a receipt showing the account paid in full and the check or written
authorization given to initiate the deferred deposit loan which must be stamped “void.”
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 604A.5023
What does Nevada Revised Statutes § 604A.5023 cover?
Section 604A.5023 ("Rescission of loan by customer") 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.5023?
A common citation format is "Nevada Revised Statutes § 604A.5023" (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.5023 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.