604A.0703 - “High-interest loan” defined.
604A.0703 “High-interest loan” defined.
1. “High-interest loan” means a loan made to a customer pursuant to a loan agreement which, under its original terms, charges an annual percentage rate of more than 40 percent.
2. The term includes, without limitation, any single-payment loan, installment loan or open-ended loan which, under its original terms, charges an annual percentage rate of more than 40 percent.
3. The term does not include:
(a) A deferred deposit loan;
(b) A refund anticipation loan; or
(c) A title loan.
(Added to NRS by 2007, 930)