Nev. Admin. Code § 704A.540

Current through October 11, 2024

Section 704A.540 - Interest on refundable advance

1. Interest accrues for the first 6 months on any refundable cash advance paid to the telephone company under NAC 704A.520.

2. The company has no obligation to pay interest to the developer on any other cash advance.

3. The interest is at an annual rate equal to the lowest daily prime rate at the three largest United States banking institutions on the day the company receives the advance.

Nev. Admin. Code § 704A.540

Added to NAC by Pub. Service Comm'n, eff. 3-15-84

NRS 703.025, 704.260, 704.280, 704A.300