Nev. Rev. Stat. § 604A.045

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
Section 604A.045 - "Default" defined
1. "Default" means the failure of a customer to:
(a) Make a scheduled payment on a loan on or before the due date for the payment under the terms of a lawful loan agreement that complies with the provisions of NRS 604A.501, subsection 2 of NRS 604A.5029, NRS 604A.5037, subsection 2 of NRS 604A.5057 or NRS 604A.5074, as applicable, and any grace period that complies with the provisions of NRS 604A.210; or
(b) Pay a loan in full on or before the expiration of the loan period as set forth in a lawful loan agreement that complies with the provisions of NRS 604A.501, subsection 2 of NRS 604A.5029, NRS 604A.5037, subsection 2 of NRS 604A.5057 or NRS 604A.5074, as applicable, and any grace period that complies with the provisions of NRS 604A.210.
2. A default occurs on the day immediately following the date of the customer's failure to perform as described in subsection 1.

NRS 604A.045

Added to NRS by 2005, 1684; A 2017, 1439
Amended by 2017, Ch. 274,§2, eff. 7/1/2017.
Added to NRS by 2005, 1684