Nevada § 624.955 - Limitations on certain lending and financial practices
Full text of Nevada Nevada Revised Statutes § 624.955 — Limitations on certain lending and financial practices, with citation guidance and answers to common questions.
§ 624.955. Limitations on certain lending and financial practices
1. A contract for work concerning a residential pool or spa is not enforceable against
the owner if the obtaining of a loan for all or a portion of the contract price is
a condition precedent to the contract unless all of the following requirements are
satisfied: (a) A third party agrees to make the loan or give the financing. (b) The owner agrees to accept the loan or financing. (c) The owner does not rescind the loan or financing transaction within the period
prescribed for rescission pursuant to the Truth in Lending Act, 15 U.S.C. §§ 1601 et seq., or chapter 598 of NRS, if applicable. 2. Unless and until all applicable requirements of subsection 1 are satisfied, a contractor
shall not: (a) Perform or deliver any work, labor, material or services; or (b) Represent in any manner that the contract is enforceable or that the owner has
any obligation under the contract. 3. A contract for work concerning a residential pool or spa is not enforceable against
the owner if the contractor provides a loan or gives financing for all or a portion
of the contract price unless all of the following requirements are satisfied: (a) The owner agrees to accept the loan or financing. (b) The owner does not rescind the loan or financing transaction within the period
prescribed for rescission pursuant to the Truth in Lending Act, 15 U.S.C. §§ 1601 et seq., or chapter 598 of NRS, if applicable. 4. Unless and until all applicable requirements of subsection 3 are satisfied, a contractor
shall not: (a) Perform or deliver any work, labor, material or services; or (b) Represent in any manner that the contract is enforceable or that the owner has
any obligation under the contract. 5. A contract for work concerning a residential pool or spa is not enforceable against
the owner if the contractor receives from a third party, either directly or indirectly,
remuneration or any other thing of value for a loan to finance the work and that fact
is not disclosed in writing in the contract. 6. As used in this section, “ third party ” means a bonding company, finance company, or any other corporation or business entity
who cosigns, underwrites, obtains a deed of trust for, issues, sells, purchases or
acquires a loan to finance work concerning a residential pool or spa.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 624.955
What does Nevada Revised Statutes § 624.955 cover?
Section 624.955 ("Limitations on certain lending and financial practices") 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 § 624.955?
A common citation format is "Nevada Revised Statutes § 624.955" (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 § 624.955 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.