NRS 97B.010 – Short title.
This chapter may be cited as the Consumer Protection From the Accrual of Predatory Interest After Default Act. (Added to NRS by 2019, 2307)
NRS 97B.020 – Purpose of chapter; construction.
1. The purpose of this chapter is to protect consumers. 2. This chapter must be construed as a consumer protections statute for all purposes. 3. This chapter must be liberally construed to effectuate its purpose. (Added to NRS by 2019, 2307)
NRS 97B.030 – Definitions.
As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 97B.040 to 97B.070, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2019, 2307)
NRS 97B.040 – “Business” defined.
“Business” means a proprietorship, corporation, partnership, association, trust, unincorporated organization or other enterprise doing business in this State. (Added to NRS by 2019, 2308)
NRS 97B.050 – “Consumer” defined.
“Consumer” means a natural person. (Added to NRS by 2019, 2308)
NRS 97B.060 – “Consumer debt” defined.
“Consumer debt” means any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance or services which are the subject of the transaction are primarily for personal, family or household purposes, whether or not such obligation has been reduced to judgment. (Added to NRS […]
NRS 97B.070 – “Consumer form contract” defined.
1. “Consumer form contract” means a retail charge agreement or a retail installment contract involving a retail installment transaction in writing between a retail seller and a consumer buyer, or a lease in writing between a lessor and a consumer lessee, involving the sale or lease of goods or services, including, without limitation, credit or […]
NRS 97B.080 – Prohibition against use of consumer form contract; application of chapter to persons who seek to evade its provisions.
1. A business, including, without limitation, any officer, agent, employee or representative, shall not individually or in cooperation with another, solicit the execution of, receive or rely upon a consumer form contract, including, without limitation, reliance upon the consumer form contract as a basis of a suit or claim, unless the business has complied with […]
NRS 97B.090 – Exemptions from chapter.
The provisions of this chapter do not apply to: 1. A person doing business pursuant to the authority of any law of this State or of the United States relating to banks, national banking associations, savings banks, trust companies, savings and loan associations, credit unions, mortgage brokers, mortgage bankers, thrift companies or insurance companies, including, […]
NRS 97B.100 – Consumer form contracts: Enforceability of choice of law and forum selection provisions.
If a consumer form contract is signed by the consumer or otherwise formed while the consumer resides in this State with a person operating within this State: 1. A choice of law provision in a consumer form contract which provides that the consumer form contract is to be governed or interpreted pursuant to the laws […]
NRS 97B.110 – Consumer form contracts: Requirement for signature of consumer.
1. Any consumer form contract involving a loan, extension of credit, deposit account or other financial services must be signed by the consumer in writing or electronically in full compliance with Section 101(c) of the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001(c). 2. Any change of terms to a consumer […]
NRS 97B.120 – Consumer form contracts: Prohibition on the inclusion of certain provisions.
A consumer form contract must not contain: 1. A provision that the consumer will hold the other party harmless, or that otherwise relieves the other party of liability, for any harm or damage caused to the consumer arising from the consumer form contract. 2. A confession of judgment clause. 3. A waiver of the right […]
NRS 97B.130 – Consumer form contracts: Provisions that violate chapter void; enforceability of other provisions.
A provision in a consumer form contract that violates this chapter shall be void and unenforceable. A court may refuse to enforce other provisions of the consumer form contract as equity may require. (Added to NRS by 2019, 2310)
NRS 97B.140 – Consumer form contracts: Void if entered into with unlicensed person required to be licensed.
Any consumer form contract entered into by a consumer with a person who is required to be licensed pursuant to any provision of NRS or NAC in order to enter into the consumer transaction, but is not so licensed, is void. Neither the obligee nor any assignee of the obligation may collect, receive or retain […]
NRS 97B.150 – Award of interest; prohibition against compounding interest; limitation on prejudgment interest; limitation on postjudgment interest.
If the plaintiff is the prevailing party in any action to collect a consumer debt: 1. And a rate of interest is stated in the consumer form contract, interest may be awarded by the court only as set forth in this section. 2. Interest under the consumer form contract, prejudgment interest and postjudgment interest awarded […]
NRS 97B.160 – Award of attorney’s fees when plaintiff is prevailing party in action to collect consumer debt.
1. If the plaintiff is the prevailing party in any action to collect a consumer debt, the plaintiff is entitled to collect attorney’s fees only if the consumer form contract or other document evidencing the indebtedness sets forth an obligation of the consumer to pay such attorney’s fees and subject to the following conditions: (a) […]
NRS 97B.170 – Award of attorney’s fees when debtor is prevailing party in action to collect consumer debt.
If the debtor is the prevailing party in any action to collect a consumer debt, the debtor is entitled to an award of reasonable attorney’s fees. The amount of the debt that the creditor sought may not be a factor in determining the reasonableness of the award. (Added to NRS by 2019, 2311)