Title 8

NRS 97.031 “Finance charge” defined. “Finance charge” means the cost of credit indicated in a dollar amount. The term includes any charge payable directly or indirectly by the buyer and imposed directly or indirectly by the seller as an incident to or a condition of the extension…

NRS 97.035 “Goods” defined. “Goods” means: 1. All tangible personal property, whether movable at the time of purchase or a fixture, which is used or bought for use primarily for personal, family or household purposes; and 2. Merchandise certificates or coupons, issued by a retail…

NRS 97.055 “Official fees” defined. “Official fees” means fees prescribed by law for perfecting, transferring or releasing a security interest created by a retail installment transaction. (Added to NRS by 1965, 658)

NRS 97.075 “Rate” defined. “Rate” means the percentage which, when multiplied times the unpaid balance for each month or other installment period, yields the amount of the finance charge for that month or period. (Added to NRS by 1965, 658; A 1993, 2756; 1995, 1801)

NRS 97.085 “Retail buyer” and “buyer” defined. “Retail buyer” or “buyer” means a person who buys or hires goods from, or gives or agrees to give a security interest in goods to, or agrees to have services rendered or furnished from, a retail seller. (Added to NRS by 1965, 658; A …

NRS 97.095 “Retail charge agreement” defined. “Retail charge agreement” means an agreement entered into or performed in this state prescribing the terms of retail installment transactions in which the buyer may pay, in installments, to a retail seller, the unpaid balance due in a…

NRS 97.105 “Retail installment contract” and “contract” defined. 1. “Retail installment contract” or “contract” means a contract, other than a retail charge agreement or an instrument reflecting a sale made pursuant thereto, entered into or performed in this state for a retail in…

NRS 97.115 “Retail installment transaction” defined. “Retail installment transaction” means a transaction in which a retail buyer purchases goods or services from a retail seller pursuant to a retail installment contract or a retail charge agreement which may provide for a financ…

NRS 97.125 “Retail seller” and “seller” defined. 1. “Retail seller” or “seller” means: (a) A person engaged in the business of selling or leasing goods or services to retail buyers or a licensee, franchisee, assignee or corporate affiliate or subsidiary of such a person; (b) A pe…

NRS 97.135 “Services” defined. “Services” means work, labor or services of any kind when purchased primarily for personal, family or household use and not for commercial or business use whether or not furnished in connection with the delivery, installation, servicing, repair or i…

NRS 97.145 “Total of payments” defined. “Total of payments” means the amount financed plus the finance charge. (Added to NRS by 1965, 659; A 1993, 2756; 1995, 1802) RETAIL INSTALLMENT CONTRACTS

NRS 97.165 Contract contained in single document; date, signatures and size of type; fee for cancellation. 1. Every retail installment contract must be contained in a single document which must contain the entire agreement of the parties, including any promissory notes or other e…

NRS 97.175 Seller to provide certain creditor disclosures to buyer. 1. Before any credit is extended, the retail seller shall provide to the retail buyer any disclosures required to be made by a creditor pursuant to 15 U.S.C. § 1638. 2. Until the seller provides the required disc…

NRS 97.185 Contents of contract. 1. A retail installment contract must contain the names of the seller and the buyer, the place of business of the seller, the residence or other address of the buyer as specified by the buyer and a description or identification of the goods sold o…

NRS 97.195 Amount of finance charge and any other fee, expense or charge. The amount of the finance charge in any retail installment contract and of any other fee, expense or charge may be any amount agreed upon by the parties. (Added to NRS by 1965, 660; A 1981, 1592; 1984, 5; 1…

NRS 97.205 Contracts negotiated and entered into by mail or telephone based on seller’s catalog or printed solicitation; preparation and delivery of memorandum. 1. Retail installment contracts negotiated and entered into by mail or telephone without solicitation in the personal p…

NRS 97.215 Blank spaces in contracts. The seller shall not obtain the signature of the buyer to any contract when it contains blank spaces of items which are essential provisions of the transaction except as provided in NRS 97.205 and 97.235, and except that if delivery of the go…

NRS 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 unpa…

NRS 97.235 Consolidated contracts; memoranda. 1. If retail installment purchases are made by a buyer from a seller, the subsequent retail installment purchases may, by agreement of the parties, be consolidated with a prior retail installment contract. The finance charge for the c…

NRS 97.245 Retail charge agreements: Finance charge; contents of monthly statements; notice of change in terms. 1. The amount of the finance charge in any retail charge agreement may be any amount, and the agreement may provide for the imposition of any fee, expense or charge, ag…

NRS 97.253 Rights of retail seller; action to determine liability for unauthorized negotiable instrument used to make payment. 1. A retail seller shall be deemed to be a payee with respect to any payment made on an account of a buyer by a check or other negotiable instrument. 2. …

NRS 97.265 Insurance. If the cost of any insurance is included in the retail installment contract or retail charge agreement: 1. The contract or agreement must state the nature, purpose, term and amount of the insurance, and in connection with the sale of a motor vehicle, the con…

NRS 97.275 Invalidity of provisions of contract or agreement; waiver of provisions of chapter ineffective. 1. No provision of a retail installment contract or retail charge agreement shall be valid by which the buyer agrees not to assert against the seller or against an assignee …

NRS 97.285 Provisions of chapter governing retail installment transactions exclusive. Except as otherwise provided by specific statute, the provisions of this chapter governing retail installment transactions are exclusive, and the provisions of any other statute do not apply to …

NRS 97.297 “Vehicle” defined. For the purposes of NRS 97.299 and 97.301, “vehicle” has the meaning ascribed to it in NRS 482.135. (Added to NRS by 1987, 1479)

NRS 97.299 Forms for contracts and applications for credit: Adoption of regulations prescribing forms; contents; acceptance; translation into Spanish; amendment of forms. 1. The Commissioner of Financial Institutions shall prescribe, by regulation, forms for the application for c…

NRS 97.301 Forms for contracts and application for credit: When use is mandatory. When a vehicle is sold in this state under the circumstances described in subsection 1 of NRS 97.299, the seller and any lender to whom the application for credit is made shall use the forms prescri…

NRS 97.304 Enforceability of default on part of buyer. Notwithstanding the provisions of any contract to the contrary, default on the part of the buyer is only enforceable to the extent that: 1. The buyer fails to make a payment as required by the agreement; or 2. The prospect of…

NRS 97.305 Violation bar to recovery. A seller who enters into a contract or retail charge agreement which does not comply with the provisions of this chapter or who violates any provision of this chapter, and a lender who violates NRS 97.301, except as a result of an accidental …

NRS 97.315 Injunction to prevent violation. The Attorney General or the district attorney may bring an action in the name of the state against any person to restrain and prevent any violation of this chapter. (Added to NRS by 1965, 664)

NRS 97.325 Assurance of discontinuance. In the enforcement of this chapter, the Attorney General may accept an assurance of discontinuance of any act or practice deemed in violation of this chapter, from any person engaging in, or who has engaged in, such act or practice. Any suc…

NRS 97.335 Civil penalties. Any person who violates any order or injunction issued pursuant to this chapter shall forfeit and pay a civil penalty of not more than $1,000. For the purposes of this section the district court issuing any injunction shall retain jurisdiction, the cau…

NRS 97A.010 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 97A.020 to 97A.130, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 1995, 2597)

NRS 97A.020 “Authorized user” defined. “Authorized user” means any person granted express, implied or apparent authority to use the credit card or credit card account of a cardholder. The term includes a secondary cardholder. (Added to NRS by 1995, 2597)

NRS 97A.030 “Beneficial use” defined. “Beneficial use” means any use made of the credit card or credit card account of a cardholder by a person other than the cardholder that results in a direct or indirect benefit to the cardholder or any member of the cardholder’s immediate fam…

NRS 97A.040 “Cardholder” defined. “Cardholder” means a person: 1. Who establishes a credit card account; 2. Whose name appears on the credit card issued on that account; and 3. Who is liable for the payment of all charges incurred on that account. (Added to NRS by 1995, 2597)

NRS 97A.050 “Credit card” defined. “Credit card” means any instrument or device, whether known as a credit card, credit plate, or by any other name, issued with or without fee by an issuer for the use of the cardholder in obtaining money, property, goods, services or anything els…

NRS 97A.060 “Credit card account” defined. “Credit card account” means an open line of credit offered by an issuer to a cardholder which is accessed by obtaining money, property, goods, services or anything of value by the use of a credit card. (Added to NRS by 1995, 2598)

NRS 97A.070 “False or fraudulent application” defined. “False or fraudulent application” means any written request for the issuance of a credit card, whether or not on a form prescribed by an issuer, that contains an intentional error or mistake regarding any material fact. (Adde…

NRS 97A.080 “Financial institution” defined. “Financial institution” means: 1. A bank, commercial bank or banking corporation as defined in NRS 657.016; 2. A banking institution which is authorized to issue credit cards pursuant to federal or state law; 3. A banking subsidiary ow…

NRS 97A.090 “Interest” defined. 1. “Interest,” however denominated or expressed, means the amount which is paid or payable for the privilege of purchasing goods or services with a credit card to be paid for in installments over a period that is longer than the grace period allowe…

NRS 97A.100 “Issuer” defined. “Issuer” means a financial institution, or an authorized agent of a financial institution, that issues a credit card. (Added to NRS by 1995, 2598)

NRS 97A.110 “Joint account” defined. “Joint account” means a credit card account for which two or more persons agree in writing to be jointly and severally liable for all authorized charges incurred on the account. (Added to NRS by 1995, 2598)

NRS 97A.120 “Secondary cardholder” defined. “Secondary cardholder” means a person whose name appears on a credit card at the request of the cardholder for the purpose of authorizing that person to use the credit card account of the cardholder. (Added to NRS by 1995, 2598)

NRS 97A.130 “Service provider” defined. “Service provider” means any financial institution or organization retained by an issuer pursuant to a written agreement to provide services related to the administration of credit card accounts. (Added to NRS by 1995, 2598)

NRS 97A.140 Requirements for issuance of credit card; provision and change of terms and conditions for use of credit card; applicable state law. 1. An issuer located in this State shall not issue a credit card to a cardholder unless the issuer first: (a) Provides the written noti…