{"data":{"id":"us-nv/nrs-604a.5038","jurisdiction":"us-nv","citation":"NRS 604A.5038","heading":"Licensee required to make determination of ability of customer to repay loan and compliance of loan with certain requirements before making loan.","body":"1. A licensee who operates a high-interest loan service shall not make a high-interest loan pursuant to this chapter unless the licensee determines pursuant to subsection 2 that the customer has the ability to repay the high-interest loan and that the high-interest loan complies with the provisions of NRS 604A.5045 or subsection 2 of NRS 604A.5057, as applicable.\n2. For the purposes of subsection 1, a customer has the ability to repay a high-interest loan if the customer has a reasonable ability to repay the high-interest loan, as determined by the licensee after considering, to the extent available, the following underwriting factors:\n(a) The current or reasonably expected income of the customer;\n(b) The current employment status of the customer based on evidence including, without limitation, a pay stub or bank deposit;\n(c) The credit history of the customer;\n(d) The amount due under the original term of the high-interest loan, the monthly payment on the high-interest loan, if the high-interest loan is an installment loan, or the potential repayment plan if the customer defaults on the high-interest loan; and\n(e) Other evidence, including, without limitation, bank statements, electronic bank statements and written representations to the licensee.\n3. For the purposes of subsection 1, a licensee who operates a high-interest loan service shall not consider the ability of any person other than the customer to repay the high-interest loan.","path":["TITLE 52 — TRADE REGULATIONS AND PRACTICES","CHAPTER 604A - DEFERRED DEPOSIT LOANS, HIGH-INTEREST LOANS, TITLE LOANS AND CHECK-CASHING SERVICES","REGULATION OF BUSINESS PRACTICES","High-Interest Loan Services"],"source_url":"https://www.leg.state.nv.us/NRS/NRS-604A.html#NRS604ASec5038","current_through":"2025 session (NRS as revised 2026-08-25)","vintage":"","retrieved_at":"2026-09-03T05:51:43Z","sha256":"1da4098ec608a774c332085c56c24db4b3c80f9ac501e80eed6014d421812ae7","source_id":"us-nv","stale":true,"prev":"us-nv/nrs-604a.5037","next":"us-nv/nrs-604a.504"},"notice":"GroundRules: Original legal text. Not legal advice."}