Nev. Admin. Code § 604A.Sec. 22

Current through December 31, 2024
Section 604A.Sec. 22 - NEW

A licensee shall retain for not less than 3 years all data and documentation collected and reviewed for any loan, loan transaction or query made in the database. For the purposes of this section, "documentation" includes, without limitation:

1. All copies of the documents considered in determining the ability of a customer to repay a loan, including the gross monthly income of the customer, identity and credit history; and
2. For title loans, any third-party vendor documentation which shows the fair market value of the vehicle which secured the title loan and a copy of the title to the vehicle.

Nev. Admin. Code § 604A.Sec. 22

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