1.  No person may engage in the business of lending in this State without first having obtained a license from the Commissioner pursuant to this chapter for each office or other place of business at which the person engages in such business, except that if a person intends to engage in the business of lending in this State as a deferred deposit loan service, high-interest loan service or title loan service, as those terms are defined in chapter 604A of NRS, the person must obtain a license from the Commissioner pursuant to chapter 604A of NRS before the person may engage in any such business.

Terms Used In Nevada Revised Statutes 675.060

  • Commissioner: means the Commissioner of Financial Institutions. See Nevada Revised Statutes 675.020
  • 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
  • person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039

2.  For the purpose of this section, a person engages in the business of lending in this State if he or she:

(a) Solicits loans in this State or makes loans to persons in this State, unless these are isolated, incidental or occasional transactions; or

(b) Is located in this State and solicits loans outside of this State or makes loans to persons located outside of this State, unless these are isolated, incidental or occasional transactions.

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