Nevada § 604A.5037 - Limitations on original term
Full text of Nevada Nevada Revised Statutes § 604A.5037 — Limitations on original term, with citation guidance and answers to common questions.
§ 604A.5037. Limitations on original term
1. Except as otherwise provided in this chapter, the original term of a high-interest
loan must not exceed 35 days. 2. The original term of a high-interest loan may be up to 90 days if: (a) The loan provides for payments in installments; (b) The payments are calculated to ratably and fully amortize the entire amount of
principal and interest payable on the loan; (c) The loan is not subject to any extension; (d) The loan does not require a balloon payment of any kind; and (e) The loan is not a deferred deposit loan. 3. Notwithstanding the provisions of NRS 604A.5057 , a licensee who operates a high-interest loan service shall not agree to establish
or extend the period for the repayment, renewal, refinancing or consolidation of an
outstanding high-interest loan for a period that exceeds 90 days after the date of
origination of the loan.
Frequently Asked Questions About Nevada § 604A.5037
What does Nevada Revised Statutes § 604A.5037 cover?
Section 604A.5037 ("Limitations on original term") 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.5037?
A common citation format is "Nevada Revised Statutes § 604A.5037" (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.5037 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.