Chapter 5 interest rates

Application for a license shall be in writing, under oath, and in the form prescribed by the division of financial institutions, and shall contain the name and address of the applicant, and, if the applicant is a partnership or association, of every member thereof, and, if a corporation, of each officer and director thereof; also the approximate location where the business is to be conducted and such further relevant information as the division requires. At the time of making such application, the applicant shall pay to the division a license fee as determined by the superintendent of financial institutions pursuant to section No license fee or any portion thereof shall be refunded after a license has been issued. Upon the filing of an application under section

Chapter 5 interest rates

For the purposes of this chapter, proper calculation of the amount financed, annual percentage rate and finance charge for a loan must be made in accordance with the Truth in Lending Act and Regulation Z.

Chapter 5 interest rates

The provisions of this chapter apply to any person who seeks to evade its application by any device, subterfuge or pretense, including, without limitation: Calling a loan by any other name; 2.

Using any agents, affiliates or subsidiaries in an attempt to avoid the application of the provisions of this chapter; or 3. Having any affiliation or other business arrangement with an entity that is exempt from the provisions of this chapter pursuant to subsection 1 of NRS A. The provisions of this chapter do not prohibit a licensee from offering a customer a grace period on the repayment of a loan or an extension of a loan, except that the licensee shall not grant a grace period for the purpose of artificially increasing the amount which a customer would otherwise qualify to borrow.

Except in compliance with the provisions of NRS A. The provisions of this chapter must be interpreted so as to effectuate their general purpose to provide for, to the extent practicable, uniform regulation of the loans and transactions that are subject to the provisions of this chapter.

If there is a conflict between the provisions of this chapter and the provisions of any other general law regulating loans and similar transactions, the provisions of this chapter control. This chapter or any part thereof may be modified, amended or repealed by the Legislature so as to effect a cancellation or alteration of any license or right of a licensee under this chapter, provided that such cancellation or alteration shall not impair or affect the obligation of any preexisting lawful loan agreement between any licensee and any customer.

Any loan lawfully made outside this State as permitted by the laws of the state in which the loan was made may be collected or otherwise enforced in this State in accordance with its terms. Except as otherwise provided in NRS A.

A person who is primarily engaged in the retail sale of goods or services who: A person while performing any act authorized by a license issued pursuant to chapter of NRS.

A person who holds a nonrestricted gaming license issued pursuant to chapter of NRS while performing any act in the course of that licensed operation.

A person who is exclusively engaged in a check-cashing service relating to out-of-state checks. A corporation organized pursuant to the laws of this State that has been continuously and exclusively engaged in a check-cashing service in this State since July 1, A pawnbroker, unless the pawnbroker operates a check-cashing service, deferred deposit loan service, high-interest loan service or title loan service.


A real estate investment trust, as defined in 26 U. An employee benefit plan, as defined in 29 U. An attorney at law rendering services in the performance of his or her duties as an attorney at law if the loan is secured by real property.

A real estate broker rendering services in the performance of his or her duties as a real estate broker if the loan is secured by real property. Any firm or corporation: A person who provides money for investment in loans secured by a lien on real property, on his or her own account.

A seller of real property who offers credit secured by a mortgage of the property sold. A person who makes a refund anticipation loan, unless the person operates a check-cashing service, deferred deposit loan service, high-interest loan service or title loan service.

A person who exclusively extends credit to any person who is not a resident of this State for any business, commercial or agricultural purpose that is located outside of this State. All provisions of this chapter governing enforcement or collection of an obligation originated under this chapter apply to: Any purchaser or assignee of the obligation; and 2.Sec.

Separate titles and taxation. Recording of certificate by cooperative. Conveyance of interest in cooperative.


(a) In a cooperative, a unit owner's interest in a unit and its allocated interests is a real property interest for all purposes, except that the real property constituting the cooperative shall be taxed and assessed as a whole and a unit owner's interest shall not be.

Chapter SMALL LOANS. Small loan definitions. As used in sections to of the Revised Code: "Person" includes individuals, partnerships, associations, trusts, corporations, and all other legal entities. The 16% Solution: How to Get High Interest Rates in a Low-Interest World with Tax Lien Certificates, Revised Edition Hardcover – March 17, Chapter 5: Interest Rates-3 Corporate Finance C.

Examples 1. Assume an APR of 6% per year with semiannual compounding. What is the effective annual interest rate and the effective monthly interest rate on this account? Periodic interest rates.

Chapter 5 interest rates

In the following table fill in the periodic rates and the effective annual rates Compounding per Year (m) Effective Annual Rate This preview has intentionally blurred sections. Interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (i.e., the amount borrowed), at a particular rate.

It is distinct from a fee which the borrower may pay the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or.