Nev. Admin. Code § 604A.Sec. 15

Current through December 31, 2024
Section 604A.Sec. 15 - NEW
1. Except as otherwise provided in this section, the service provider shall charge and collect a fee from each licensee for each loan which the licensee approves and enters into the database. The fee:
(a) Must have been established by the competitive procurement process through which the service provider was selected by the Commissioner; and
(b) Must not exceed $3 per approved loan.
2. The service provider shall not charge or collect a fee from a licensee for a loan which is:
(a) Not approved;
(b) Voided; or
(c) Rescinded.
3. The fee may be charged only at the time of the origination of a loan and cannot be charged to extend, roll over, renew, refinance or consolidate a loan, or for any other action which would extend the due date.

Nev. Admin. Code § 604A.Sec. 15

Added to NAC by Comm'r of Financial Institutions by R037-20A, eff. 12/29/2020
NRS 604A.303