Nevada § 604B.210 - Required disclosures

§ 604B.210. Required disclosures

1. If a facilitator of a refund anticipation loan offers a customer an opportunity

to apply for a refund anticipation loan, the facilitator shall provide to the customer,

before the customer completes the application process, the following disclosures: (a) The refund anticipation loan fee schedule used by the facilitator; and (b) A written statement or, if the transaction is conducted using electronic commerce,

an electronic statement, in at least 10-point type, containing the following information: (1) A disclosure that the refund anticipation loan is a loan which creates a legally

enforceable debt and that the loan is not the customer's actual tax refund; (2) A disclosure that the customer may file a tax return electronically without applying

for the refund anticipation loan; (3) A disclosure of the average times, according to the Internal Revenue Service,

within which a person who does not obtain a refund anticipation loan can expect to

receive a tax refund if the person: (I) Files a tax return electronically and the person's tax refund is directly deposited

to the person's account or mailed to the person; or (II) Mails a tax return to the Internal Revenue Service and the person's tax refund

is directly deposited to the person's account or mailed to the person; (4) A disclosure that the Internal Revenue Service does not guarantee that a person

will be paid the full amount of an anticipated tax refund and does not guarantee that

an anticipated tax refund will be deposited into a person's account or mailed to a

person on a specific date; (5) A disclosure that the customer is responsible for repayment of the refund anticipation

loan and related fees and charges if the anticipated tax refund is not paid or paid

in full; (6) A disclosure of the estimated time within which the proceeds of the refund anticipation

loan will be paid to the customer if the loan is approved; and (7) A disclosure of the fee or charge that will be imposed, if any, if the refund

anticipation loan is not approved. 2. In addition to the disclosures required pursuant to subsection 1, the facilitator

shall provide to the customer, before the loan transaction is completed, the following

additional disclosures: (a) The estimated total fees and charges for obtaining the refund anticipation loan;

and (b) The estimated annual percentage rate for the refund anticipation loan calculated

under the guidelines established by the Truth in Lending Act and Regulation Z.