Statute 604a 5985

1. Before making a loan that constitutes consumer credit to a covered service member or a dependent of a covered service member, a licensee shall provide the following information to the covered service member or the dependent of a covered service member, as applicable, both orally and in writing: (a) A statement of the annual percentage rate of interest applicable to the loan; (b) Any disclosures required by the provisions of the Truth in Lending Act and any regulations adopted pursuant thereto; and (c) A clear description of the payment obligations of the covered service member or dependent, as applicable. 2. A licensee shall present the disclosures required by subsection 1 in accordance with the provisions of Regulation Z. (Added to NRS by 2019, 941)