1. A customer may pay a high-interest loan, or any extension thereof, in full at any time, without an additional charge or fee, before the date the customer’s final payment on the high-interest loan, or any extension thereof, is due. 2. If a customer pays the high-interest loan in full, including all interest, charges and fees negotiated and agreed to by the licensee and customer as permitted under this chapter, the licensee shall: (a) Give to the customer the promissory note used to initiate the high-interest loan which must be stamped 'void' or a receipt stamped 'paid in full'; and (b) Give to the customer a receipt with the following information: (1) The name and address of the licensee; (2) The identification number assigned to the loan agreement or other information that identifies the high-interest loan; (3) The date of the payment; (4) The amount paid; (5) An itemization of interest, charges and fees; (6) A statement that the high-interest loan is paid in full; and (7) If more than one loan made by the licensee to the customer was outstanding at the time the payment was made, a statement indicating to which loan the payment was applied. oan is paid in full; and (7) If more than one loan made by the licensee to the customer was outstanding at the time the payment was made, a statement indicating to which loan the payment was applied. (Added to NRS by 2005, 1693; A 2007, 938)—(Substituted in revision for part of NRS 604A.465)
Nevada Legal Code