Nev. Admin. Code § 670B.Sec. 16

Current through December 12, 2024

Section 670B.Sec. 16 - NEW

A licensee who services more than one student education loan for a student loan borrower shall:

1. Notify the borrower, at least annually, of the manner in which the licensee intends to allocate partial payments across multiple loans in accordance with paragraph (c) of subsection 1 of NRS 670B.380;

2. Provide an opportunity for the borrower to request the allocation of partial payments in a manner other than that which the licensee intends to use; and

3. Adhere to any alternative payment allocation requested by the borrower pursuant to subsection 2.

Nev. Admin. Code § 670B.Sec. 16

Added by R120-23A, eff. 11/15/2024

NRS 670B.600