“Guaranteed asset protection waiver” defined.

NRS 690D.055 “Guaranteed asset protection waiver” defined. “Guaranteed asset protection waiver” means a contract pursuant to which a creditor, in exchange for separately stated consideration, agrees to waive part or all of the amount due to the creditor pursuant to a finance agreement in the event of a total physical damage loss or unrecovered theft of a vehicle covered by the finance agreement. (Added to NRS by 2015, 2636)