The Short Term Loan
NRS 604A.5017 — a deferred deposit loan capped at 25 percent of expected gross monthly income
A quarter of a month's pay. A licensed deferred deposit lender may not make a loan that, with the customer's other outstanding loans, exceeds 25 percent of the customer's expected gross monthly income when the loan is made.
The lender is not in violation where the customer showed proof of income and represented in writing that the loan was within the limit, and the lender checked the statewide database of outstanding loans.
Sources for this section (1)
- NRS 604A.5017 — Limitation regarding amount of loan
Legal information, not legal advice. Verified as of October 2026. Applying it to a particular situation is the work of a licensed Nevada attorney.