Nevada § 97.225 - Prepayment of unpaid total of payments; refund
Full text of Nevada Nevada Revised Statutes § 97.225 — Prepayment of unpaid total of payments; refund, with citation guidance and answers to common questions.
§ 97.225. Prepayment of unpaid total of payments; refund
1. Notwithstanding the provisions of any retail installment contract to the contrary,
if the rights of the buyer have not been terminated or forfeited under the terms of
the contract, the buyer may prepay in full the unpaid total of payments thereof at
any time before its final due date and, if the buyer does so, and if the contract
is not in default under any term or condition of the contract more than 2 months,
the buyer is entitled to a refund of the unearned portion of the finance charge for
the prepayment. The amount of the refund must be computed by applying the agreed rate of the finance
charge to the unpaid total of payments. Any greater amount of the finance charge which may have been precomputed and included
in the balance due must be refunded. 2. This section does not preclude the imposition of any penalty for prepayment to
which the parties may agree when the contract is executed.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 97.225
What does Nevada Revised Statutes § 97.225 cover?
Section 97.225 ("Prepayment of unpaid total of payments; refund") 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 § 97.225?
A common citation format is "Nevada Revised Statutes § 97.225" (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 § 97.225 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.