Nevada Revised Statutes 349.077 – Discounts
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Except as otherwise provided by a specific statute, securities issued by the State may be sold at par, above par or below par at a discount of not more than 9 percent of the principal amount, but the effective interest rate must not exceed the limit provided in NRS 349.076.
Terms Used In Nevada Revised Statutes 349.077
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Statute: A law passed by a legislature.