Nevada § 97B.150 - Award of interest; prohibition against compounding interest; limitation on prejudgment interest; limitation on postjudgment interest
Full text of Nevada Nevada Revised Statutes § 97B.150 — Award of interest; prohibition against compounding interest; limitation on prejudgment interest; limitation on postjudgment interest, with citation guidance and answers to common questions.
§ 97B.150. Award of interest; prohibition against compounding interest; limitation on prejudgment interest; limitation on postjudgment interest
If the plaintiff is the prevailing party in any action to collect a consumer debt: 1. And a rate of interest is stated in the consumer form contract, interest may be
awarded by the court only as set forth in this section. 2. Interest under the consumer form contract, prejudgment interest and postjudgment
interest awarded by the court must not be compounded. 3. Any prejudgment interest the court awards the plaintiff must be limited to the
lesser of: (a) The accrued interest at the rate stated in the consumer form contract to the day
the action to collect the debt is filed; or (b) One hundred eighty days of interest at the rate stated in the consumer form contract. 4. Any postjudgment interest the court awards the plaintiff must be limited to the
lesser of: (a) The rate of interest in the consumer form contract; or (b) A rate equal to the prime rate at the largest bank in Nevada as ascertained by
the Commissioner of Financial Institutions on January 1 or July 1, as the case may
be, immediately preceding the date of judgment, plus 2 percent. The rate must remain fixed at that rate until the judgment is satisfied.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 97B.150
What does Nevada Revised Statutes § 97B.150 cover?
Section 97B.150 ("Award of interest; prohibition against compounding interest; limitation on prejudgment interest; limitation on postjudgment interest") 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 § 97B.150?
A common citation format is "Nevada Revised Statutes § 97B.150" (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 § 97B.150 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.