Nevada Revised Statutes 675.450 – Preexisting contracts unaffected by revocation, suspension, expiration or surrender of license
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No revocation, suspension, expiration or surrender of any license impairs or affects the obligation of any preexisting lawful contract between the licensee and any obligors. Such a contract and all lawful charges thereon may be collected by the licensee, its successors or assigns.
Terms Used In Nevada Revised Statutes 675.450
- Contract: A legal written agreement that becomes binding when signed.
- License: means a license, issued under the authority of this chapter, to make loans in accordance with the provisions of this chapter, at a single place of business. See Nevada Revised Statutes 675.020
- Licensee: means a person to whom one or more licenses have been issued. See Nevada Revised Statutes 675.020
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.