Nevada § 604A.5045 - Limitation regarding amount of loan
Full text of Nevada Nevada Revised Statutes § 604A.5045 — Limitation regarding amount of loan, with citation guidance and answers to common questions.
§ 604A.5045. Limitation regarding amount of loan
1. A licensee who operates a high-interest loan service shall not make a high-interest
loan which, under the terms of the loan agreement and in combination with any other
outstanding loan of the customer, requires any monthly payment that exceeds 25 percent
of the expected gross monthly income of the customer. 2. A licensee who operates a high-interest loan service is not in violation of the
provisions of this section if: (a) The customer presents evidence of his or her gross monthly income to the licensee
and represents to the licensee in writing that the monthly payment required under
the terms of the loan agreement for the high-interest loan does not exceed 25 percent
of the customer's expected gross monthly income; and (b) The licensee has utilized the database established pursuant to NRS 604A.303 to ensure that the terms of the high-interest loan, in combination with any other
outstanding loan of the customer, do not require any monthly payment that exceeds
25 percent of the customer's expected gross monthly income when the loan is made.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 604A.5045
What does Nevada Revised Statutes § 604A.5045 cover?
Section 604A.5045 ("Limitation regarding amount of loan") 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.5045?
A common citation format is "Nevada Revised Statutes § 604A.5045" (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.5045 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.