NRS 690D.010 – Definitions.
As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 690D.020 to 690D.075, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2015, 2635)
NRS 690D.020 – “Administrator” defined.
“Administrator” means a person who is responsible for administering a guaranteed asset protection waiver that is sold or offered for sale by a creditor. (Added to NRS by 2015, 2636)
NRS 690D.025 – “Benefits” defined.
“Benefits” means a waiver, pursuant to a guaranteed asset protection waiver, of part or all of the amount due on a finance agreement after a total physical damage loss or unrecovered theft of a vehicle covered by the finance agreement. (Added to NRS by 2015, 2636)
NRS 690D.030 – “Borrower” defined.
“Borrower” means a person who owes money to a creditor pursuant to a finance agreement. (Added to NRS by 2015, 2636)
NRS 690D.035 – “Creditor” defined.
“Creditor” means a person to whom money is owed pursuant to a finance agreement, including, without limitation, the assignee of such an agreement. (Added to NRS by 2015, 2636)
NRS 690D.040 – “Dealer” defined.
“Dealer” means a seller of a vehicle who provides or arranges for the provision of credit to the buyer of the vehicle for the purpose of financing the purchase of the vehicle. (Added to NRS by 2015, 2636)
NRS 690D.045 – “Finance agreement” defined.
“Finance agreement” means: 1. A loan made to the buyer of a vehicle for the purpose of financing the purchase of the vehicle and that is secured by the vehicle. 2. A lease between a long-term lessee and a long-term lessor. 3. A retail installment contract, as defined in NRS 97.105, for the purchase of […]
NRS 690D.050 – “Free-look period” defined.
“Free-look period” means a period beginning on or after the effective date of a guaranteed asset protection waiver in which the borrower may cancel the guaranteed asset protection waiver with no penalty, fee or other cost. (Added to NRS by 2015, 2636)
NRS 690D.055 – “Guaranteed asset protection waiver” defined.
“Guaranteed asset protection waiver” means a contract pursuant to which a creditor, in exchange for separately stated consideration, agrees to waive part or all of the amount due to the creditor pursuant to a finance agreement in the event of a total physical damage loss or unrecovered theft of a vehicle covered by the finance […]
NRS 690D.060 – “Lease” defined.
“Lease” has the meaning ascribed to it in NRS 482.053. (Added to NRS by 2015, 2636)
NRS 690D.065 – “Long-term lessee” defined.
“Long-term lessee” has the meaning ascribed to it in NRS 482.053. (Added to NRS by 2015, 2636)
NRS 690D.070 – “Long-term lessor” defined.
“Long-term lessor” has the meaning ascribed to it in NRS 482.053. (Added to NRS by 2015, 2636)
NRS 690D.075 – “Vehicle” defined.
“Vehicle” has the meaning ascribed to it in NRS 482.135, and includes, without limitation, any boat, recreational vehicle, all-terrain vehicle, trailer, personal watercraft or snowmobile. (Added to NRS by 2015, 2636)
NRS 690D.095 – Applicability of chapter and title 57 of NRS; certificate of authority not required to issue, sell, offer for sale or administer waiver.
1. Except as otherwise provided in this chapter, the marketing, issuance, sale, offering for sale, making, proposing to make and administration of guaranteed asset protection waivers are not subject to the provisions of title 57 of NRS, except, when applicable, the provisions of NRS 679B.020 to 679B.125, inclusive, 679B.130, 679B.136, 679B.140, 679B.159 to 679B.180, inclusive, […]
NRS 690D.100 – Applicability of provisions to certain transactions involving vehicles for commercial use.
1. The provisions of subsection 2 of NRS 690D.170, subsection 2 of NRS 690D.190 and NRS 690D.230 do not apply to a guaranteed asset protection waiver offered for sale or sold in connection with a lease or retail installment transaction to a buyer or lessor who purchases or leases the vehicle solely or primarily for […]