Nevada 2019 Regular Session Status: Enacted 1 D cosponsors

SB 201 — Revises provisions governing loans. (BDR 52-568)

Last action — Approved by the Governor. Chapter 177.

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    Introduced
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    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 18, 2019. Enacted.

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Likely to advance 62% · moderate confidence

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High

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  • Enacted

    Current position in the legislative process.

  • 9 sponsors

    9 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 D).

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Summary

AN ACT relating to financial services; adopting certain provisions of the federal Military Lending Act; requiring the Commissioner of Financial Institutions to develop, implement and maintain a database storing certain information relating to deferred deposit loans, title loans and high-interest loans made to customers in this State; providing that information in such a database is confidential under certain circumstances; authorizing a person who operates a deposit loan service, title loan service or high-interest loan service to distribute certain information and materials concerning public assistance and services; authorizing the Department of Business and Industry and the Bureau of Consumer Protection in the Office of the Attorney General to inform the public regarding certain information; revising provisions that prohibit the making of a deposit loan or high-interest loan that exceeds or requires payments that exceed a certain percentage of the customer's expected gross monthly income; and providing other matters properly relating thereto.

Bill Text

What changed in the latest version

747 added · 740 removed

747 line(s) added, 740 removed.

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(Reprinted with amendments adopted on April 18, 2019) SECOND REPRINT S.B.
Senate Bill No.
201 SENATE BILL NO .
201–Senators Cancela, Ratti, Parks;
201–ENATORS CANCELA , ATTI, ARKS ;
Brooks, Dondero Loop, Ohrenschall and Spearman Joint Sponsors:
B ROOKS , ONDERO LOOP ,O HRENSCHALL AND SPEARMAN FEBRUARY 18, 2019 ____________ JOINT SPONSORS :
Assemblymen Frierson and Yeager CHAPTER..........
ASSEMBLYMEN FRIERSON AND Y EAGER ____________ Referred to Committee on Commerce and Labor SUMMARY—Revises provisions governing loans.
(BDR 52-568) FISCAL NOTE:
Effect on Local Government:
No.
Effect on the State:
Yes.
~ EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
revising provisions that prohibit the making of a deposit loan or high-interest loan that exceeds or requires payments that exceed a certain percentage of the customer’s expected gross monthly income;
revising provisions that prohibit the making of a deposit loan or high- interest loan that exceeds or requires payments that exceed a certain percentage of the customer’s expected gross monthly income;
- *SB201_R2* – 2 – Legislative Counsel’s Digest:
Legislative Counsel’s Digest:
Existing law establishes standards and procedures governing the licensing and regulation of certain short-term loans, commonly referred to as “payday loans,” high-interest loans, title loans and installment loans.
Existing law establishes standards and procedures governing the licensing and high-interest loans, title loans and installment loans.
(Chapters 604A and 675 of NRS) The federal Military Lending Act imposes limitations on the terms of consumer credit that is extended to members of the Armed Forces of the United States who against a lender charging an interest rate greater than 36 percent.
(Chapters 604A and 675 of NRS) The federal Military Lending Act imposes limitations on the terms of consumer credit that is extended to members of the Armed Forces of the United States who are on active duty and their dependents, including, without limitation, a prohibition against a lender charging an interest rate greater than 36 percent.
§ 987) Existing law adopts the provisions of the federal Military Lending Act by referring to the federal law creating the Act.
§ 987) Existing law adopts the provisions of the federal Military Lending Act by referring and 24 of this bill eliminate these provisions and, instead, sections 2-7, 15 and 17- of this bill adopt the language of certain provisions of the Military Lending Act, including language:
(NRS 99.050, 604A.411, 675.292) Sections 15 and 24 of this bill eliminate these provisions and, instead, sections 2-7, 15 and 17- 21 of this bill adopt the language of certain provisions of the Military Lending Act, including language:
Section 8 of this bill requires the Commissioner of Financial Institutions to develop, implement and maintain, by contract with a vendor or service provider or otherwise, a database of all deferred deposit loans, title loans and high-interest loans in this State, for the purposes of ensuring compliance with existing law governing these types of loans.
80th Session (2019) – 2 – Section 8 of this bill requires the Commissioner of Financial Institutions to develop, implement and maintain, by contract with a vendor or service provider or otherwise, a database of all deferred deposit loans, title loans and high-interest loans in this State, for the purposes of ensuring compliance with existing law governing these types of loans.
Under section 8, a licensee who makes such loans title loan and high-interest loan made by the licensee.
Under section 8, a licensee who makes such loans must report and update certain information concerning each deferred deposit loan, title loan and high-interest loan made by the licensee.
service, high-interest loan service or title loan service to distribute information and materials provided by the Department of Health and Human Services concerning public assistance and services provided by public agencies.
Section 9 of this bill authorizes a person who operates a deferred deposit loan service, high-interest loan service or title loan service to distribute information and materials provided by the Department of Health and Human Services concerning public assistance and services provided by public agencies.
Existing law prohibits a person who operates a deferred deposit loan service from making a deferred deposit loan that exceeds 25 percent of the expected gross Similarly, existing law prohibits a person who operates a high-interest loan service from making a high-interest loan which requires any monthly payment that exceeds 25 percent of the expected gross monthly income of the customer.
Existing law prohibits a person who operates a deferred deposit loan service from making a deferred deposit loan that exceeds 25 percent of the expected gross monthly income of the customer when the loan is made.
(NRS 604A.5045) Section 12 of this bill prohibits a person who operates a deferred deposit loan service from making a deferred deposit loan that, in combination with - *SB201_R2* – 3 – any other outstanding loan of the customer, exceeds 25 percent of the expected gross monthly income of the customer when the loan is made.
(NRS 604A.5017) Similarly, existing law prohibits a person who operates a high-interest loan service from making a high-interest loan which requires any monthly payment that exceeds percent of the expected gross monthly income of the customer.
Section 13 of this bill prohibits a person who operates a high-interest loan service from making a high-interest loan which, in combination with any other outstanding loan of a customer, requires any monthly payment that exceeds 25 percent of the expected a person making a deferred deposit loan or high-interest loan to be deemed iny of compliance with these limitations if the customer receiving the loan presents evidence of his or her gross monthly income and represents in writing that the loan does not violate these limitations, unless the person utilizes the database created pursuant to section 8 to confirm that a loan is in compliance with these limitations.
(NRS 604A.5045) Section 12 of this bill prohibits a person who operates a deferred deposit loan service from making a deferred deposit loan that, in combination with any other outstanding loan of the customer, exceeds 25 percent of the expected gross monthly income of the customer when the loan is made.
any loan made before the provisions of this bill become effective.
Section 13 of this bill prohibits a person who operates a high-interest loan service from making a high-interest loan which, in combination with any other outstanding loan of a customer, requires any monthly payment that exceeds 25 percent of the expected gross monthly income of the customer.
Sections 10 andto 14 of this bill make conforming changes.
Sections 12 and 13 eliminate the ability of a person making a deferred deposit loan or high-interest loan to be deemed in compliance with these limitations if the customer receiving the loan presents evidence of his or her gross monthly income and represents in writing that the loan does not violate these limitations, unless the person utilizes the database created pursuant to section 8 to confirm that a loan is in compliance with these limitations.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Section 23 of this bill provides that the provisions of this bill do not apply to any loan made before the provisions of this bill become effective.
Sections 10 and of this bill make conforming changes.
EXPLANATION – Matter in bolded italics is new;
matter between brackets [omitted material] is material to be omitted.
80th Session (2019) – 3 – THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
or - *SB201_R2* – 4 – (c) Is incapable of self-support because of a mental or physical incapacity that occurred while the child was a person described by paragraph (a) or (b);
or (c) Is incapable of self-support because of a mental or physical incapacity that occurred while the child was a person described by paragraph (a) or (b);
(2) Less than 23 years of age and is enrolled in a full-time course of study at an institution of higher learning and is in fact dependent on the covered service member for over one-half of the person’s support;
80th Session (2019) – 4 – (2) Less than 23 years of age and is enrolled in a full-time course of study at an institution of higher learning and is in fact dependent on the covered service member for over one-half of the person’s support;
(d) Resides with the covered service member unless separated as a result of disability or incapacitation or under such otherl care circumstances as the Commissioner may prescribe;
(d) Resides with the covered service member unless separated by the necessity of military service or to receive institutional care as a result of disability or incapacitation or under such other circumstances as the Commissioner may prescribe;
and subsection 1, 2 or 3.dent of a covered service member under Sec.
and (e) Is not a dependent of a covered service member under subsection 1, 2 or 3.
Sec.
- *SB201_R2* – 5 – (a) A statement of the annual percentage rate of interest applicable to the loan;
(a) A statement of the annual percentage rate of interest applicable to the loan;
1.
80th Session (2019) – 5 – 1.
The licensee uses a check or other method of access to a customer, or the title of a vehicle as security for the obligation;
The licensee uses a check or other method of access to a deposit, savings or other financial account maintained by the customer, or the title of a vehicle as security for the obligation;
The licensee requires as a condition for the extension of an obligation;
The licensee requires as a condition for the extension of consumer credit that the customer establish an allotment to repay an obligation;
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orhat the customer establish an allotment to repay 6.
or 6.
- *SB201_R2* – 6 – (c) Whether a customer has had a total of three or more such loans outstanding with one or more licensees within the 6 months immediately preceding the making of the loan;
(c) Whether a customer has had a total of three or more such loans outstanding with one or more licensees within the 6 months immediately preceding the making of the loan;
(b) The type of loan made;
80th Session (2019) – 6 – (b) The type of loan made;
The Commissioner shall establish, and cause the vendor or service provider administering the database created pursuant to the database by the licensee.
The Commissioner shall establish, and cause the vendor or service provider administering the database created pursuant to subsection 1 to charge and collect, a fee for each loan entered into the database by the licensee.
The money collected pursuant to thisto subsection must be used to pay for the operation and adm4.istExcept as otherwise provided in this subsection, any information in the database created pursuant to subsection 1 is confidential and shall not be considered a public book or record pursuant to NRS 239.010.
The money collected pursuant to this subsection must be used to pay for the operation and administration of the database.
4.
Except as otherwise provided in this subsection, any information in the database created pursuant to subsection 1 is confidential and shall not be considered a public book or record pursuant to NRS 239.010.
A person who operates a deferred deposit loan service, high-interest loan service or title loan service may, in consultation with the Department of Health and Human Services, - *SB201_R2* – 7 – distribute in a location at which the person conducts business under his or her license information and materials provided by the Department concerning public assistance and services provided by an agency or political subdivision of this State or the United States, including, without limitation, programs for debt reduction or relief, Medicaid, Supplemental Nutrition Assistance and Temporary Assistance for Needy Families.
A person who operates a deferred deposit loan service, high-interest loan service or title loan service may, in consultation with the Department of Health and Human Services, distribute in a location at which the person conducts business under his or her license information and materials provided by the Department concerning public assistance and services provided by an agency or political subdivision of this State or the United States, including, without limitation, programs for debt reduction or relief, Medicaid, Supplemental Nutrition Assistance and Temporary Assistance for Needy Families.
To the extent of available funding, the Department of Business and Industry and the Bureau of Consumer Protection in the Office of the Attorney General may use reasonable means to inform the public that, pursuant to NRS 604A.579, 604A.589 and 604A.598, a person who offers deferred deposit loan services, high-interest loan services or title loan services through an Internet website to customers in this State must be licensed to perform such services pursuant to this chapter and must comply with any state or federal law or regulation applicable to this State.
To the extent of available funding, the Department of Business and Industry and the Bureau of 80th Session (2019) – 7 – Consumer Protection in the Office of the Attorney General may use reasonable means to inform the public that, pursuant to NRS 604A.579, 604A.589 and 604A.598, a person who offers deferred deposit loan services, high-interest loan services or title loan services through an Internet website to customers in this State must be licensed to perform such services pursuant to this chapter and must comply with any state or federal law or regulation applicable to this State.
As used in this section, “reasonable means” includes, without limitation, advertising through any medium, including, without limitation, radio, television, Internet, banner ads, social media, public service announcements, community education, publishing and such other means of distributing information as are reasonably calculated to inform the public of the information setSec.
As used in this section, “reasonable means” includes, without limitation, advertising through any medium, including, without limitation, radio, television, Internet, banner ads, social media, public service announcements, community education, publishing and such other means of distributing information as are reasonably calculated to inform the public of the information set forth in subsection 1.
Sec.
604A.010 As used in this chapter, unless the context otherwise 604A.125, inclusive, and sections 2, 3 and 4 of this act have the meanings ascribed to them in those sections.
604A.010 As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 604A.015 to 604A.125, inclusive, and sections 2, 3 and 4 of this act have the meanings ascribed to them in those sections.
- *SB201_R2* – 8 – 2.
2.
and (b) The licensee has utilized the database established pursuant to section 8 of this act to ensure that the deferred deposit loan, in combination with any other outstanding loan of the customer, does not exceed 25 percent of the customer’s expected gross monthly income when the deferred deposit loan is made.
and 80th Session (2019) – 8 – (b) The licensee has utilized the database established pursuant to section 8 of this act to ensure that the deferred deposit loan, in combination with any other outstanding loan of the customer, does not exceed 25 percent of the customer’s expected gross monthly income when the deferred deposit loan is made.
(a) The customer presents evidence of his or her gross monthly the monthly payment required under the terms of the loan agreementhat for the high-interest loan does not exceed 25 percent of the cus(b) The licensee has utilized the database established pursuant to section 8 of this act to ensure that the terms of the high-interest loan, in combination with any other outstanding loan of the customer, do not require any monthly payment that exceeds 25 percent of the customer’s expected gross monthly income when the loan is made.
(a) The customer presents evidence of his or her gross monthly income to the licensee and represents to the licensee in writing that the monthly payment required under the terms of the loan agreement for the high-interest loan does not exceed 25 percent of the customer’s expected gross monthly income [.] ;
and (b) The licensee has utilized the database established pursuant to section 8 of this act to ensure that the terms of the high-interest loan, in combination with any other outstanding loan of the customer, do not require any monthly payment that exceeds 25 percent of the customer’s expected gross monthly income when the loan is made.
and - *SB201_R2* – 9 – (d) Any other legal or equitable relief that the court deems appropriate.
and (d) Any other legal or equitable relief that the court deems appropriate.
Subject to the affirmative defense set forth in subsection 3, in addition to any other remedy or penalty, the customer may bring a civil action against a person pursuant to subsection 1 to recover an additional amount, as statutory damages, which is equal to $1,000 for each violation if the person knowingly:
Subject to the affirmative defense set forth in subsection 3, in addition to any other remedy or penalty, the customer may bring a civil action against a person pursuant to subsection 1 to recover an 80th Session (2019) – 9 – additional amount, as statutory damages, which is equal to $1,000 for each violation if the person knowingly:
to hold the person harmless, a confession of judgment by thestomer customer or an assignment or order for the payment of wages or 604A.5021, 604A.5049, 604A.5072 or 604A.5092, as applicable;
(f) Includes in any written agreement a promise by the customer to hold the person harmless, a confession of judgment by the customer or an assignment or order for the payment of wages or other compensation due the customer, in violation of NRS 604A.5021, 604A.5049, 604A.5072 or 604A.5092, as applicable;
For the purposes of subsection 3, a bona fide error includes, without limitation, clerical errors, calculation errors, computer malfunction and programming errors and printing errors, except that - *SB201_R2* – 10 – an error of legal judgment with respect to the person’s obligations under this chapter is not a bona fide error.
For the purposes of subsection 3, a bona fide error includes, without limitation, clerical errors, calculation errors, computer malfunction and programming errors and printing errors, except that an error of legal judgment with respect to the person’s obligations under this chapter is not a bona fide error.
Sec.
80th Session (2019) – 10 – Sec.
(b)(1) Except as otherwise provided in subparagraph (2), means credit offered or extended to a covered service member or family or household purposes, and that is:arily for personal, (I) Subject to a finance charge;
(b) “Consumer credit”:
(1) Except as otherwise provided in subparagraph (2), means credit offered or extended to a covered service member or dependent of a covered service member primarily for personal, family or household purposes, and that is:
(I) Subject to a finance charge;
Part 1026, commonly known as - *SB201_R2* – 11 – Regulation Z, other than a transaction exempt under 12 C.F.R.
Part 1026, commonly known as 80th Session (2019) – 11 – Regulation Z, other than a transaction exempt under 12 C.F.R.
(d) “Credit” means the right granted to a natural person by a an assignee of such a person with respect to any consumer credit extended, to defer payment or to incur debt and defer its payment.
(d) “Credit” means the right granted to a natural person by a person engaged in the business of extending consumer credit, or an assignee of such a person with respect to any consumer credit extended, to defer payment or to incur debt and defer its payment.
means:
(e) “Dependent” with respect to a covered service member means:
“Dependent” with respect to a covered service member (1) The spouse;
(1) The spouse;
or (III) Is incapable of self-support because of a mental or physical incapacity that occurs while a dependent of a covered service member or former covered service member pursuant to sub-subparagraph (I) or (II) and is, or was at the time of the covered service member’s or former covered service member’s death, in fact dependent on the member or former member for over one-half of the child’s support;
or (III) Is incapable of self-support because of a mental or physical incapacity that occurs while a dependent of a covered service member or former covered service member pursuant to sub-subparagraph (I) or (II) and is, or was at the time of the covered service member’s or former covered service member’s 80th Session (2019) – 12 – death, in fact dependent on the member or former member for over one-half of the child’s support;
- *SB201_R2* – 12 – (3) A parent or parent-in-law who is, or was at the time of the covered service member’s or former covered service member’s death, in fact dependent on him or her for over one-half of his or her support and residing in his or her household;
(3) A parent or parent-in-law who is, or was at the time of the covered service member’s or former covered service member’s death, in fact dependent on him or her for over one-half of his or her support and residing in his or her household;
(IV) Resides with the covered service member or former covered service member unless separated by the necessity of disability or incapacitation or under such other circumstances as the administering Secretary, as defined in 10 U.S.C.
(IV) Resides with the covered service member or former covered service member unless separated by the necessity of military service or to receive institutional care as a result of disability or incapacitation or under such other circumstances as the administering Secretary, as defined in 10 U.S.C.
§ 1072(3), may by re(V) Is not a dependent of a covered service member or a former covered service member pursuant to subparagraph (1), (2) or (3).
§ 1072(3), may by regulation prescribe;
and (V) Is not a dependent of a covered service member or a former covered service member pursuant to subparagraph (1), (2) or (3).
Except as otherwise provided in this section and NRS 1.4683, 1.4687, 1A.110, 3.2203, 41.071, 49.095, 49.293, 62D.420, 62D.440, 62E.516, 62E.620, 62H.025, 62H.030, 62H.170, 62H.220, 62H.320, 75A.100, 75A.150, 76.160, 78.152, 80.113, 81.850, 82.183, 86.246, 86.54615, 87.515, 87.5413, 87A.200, 87A.580, 87A.640, 88.3355, 88.5927, 88.6067, 88A.345, 88A.7345, 89.045, 89.251, 90.730, 91.160, 116.757, 116A.270, 116B.880, 118B.026, 119.260, 119.265, 119.267, 119.280, 119A.280, 119A.653, 119B.370, 119B.382, 120A.690, 125.130, 125B.140, - *SB201_R2* – 13 – 126.141, 126.161, 126.163, 126.730, 127.007, 127.057, 127.130, 127.140, 127.2817, 128.090, 130.312, 130.712, 136.050, 159.044, 159A.044, 172.075, 172.245, 176.01249, 176.015, 176.0625, 176.09129, 176.156, 176A.630, 178.39801, 178.4715, 178.5691, 179.495, 179A.070, 179A.165, 179D.160, 200.3771, 200.3772, 200.5095, 200.604, 202.3662, 205.4651, 209.392, 209.3925, 209.419, 209.521, 211A.140, 213.010, 213.040, 213.095, 213.131, 217.105, 217.110, 217.464, 217.475, 218A.350, 218E.625, 218F.150, 218G.130, 218G.240, 218G.350, 228.270, 228.450, 228.495, 228.570, 231.069, 231.1473, 233.190, 237.300, 239.0105, 239.0113, 239B.030, 239B.040, 239B.050, 239C.140, 239C.210, 239C.230, 239C.250, 239C.270, 240.007, 241.020, 241.030, 241.039, 242.105, 244.264, 244.335, 247.540, 247.550, 247.560, 250.087, 250.130, 250.140, 250.150, 268.095, 268.490, 268.910, 271A.105, 281.195, 281.805, 281A.350, 281A.680, 281A.685, 281A.750, 281A.755, 281A.780, 284.4068, 286.110, 287.0438, 289.025, 289.080, 289.387, 289.830, 293.4855, 293.5002, 293.503, 293.504, 293.558, 293.906, 293.908, 293.910, 293B.135, 293D.510, 331.110, 332.061, 332.351, 333.333, 333.335, 338.070, 338.1379, 338.1593, 338.1725, 338.1727, 348.420, 349.597, 349.775, 353.205, 353A.049, 353A.085, 353A.100, 353C.240, 360.240, 360.247, 360.255, 360.755, 361.044, 361.610, 365.138, 366.160, 368A.180, 370.257, 370.327, 372A.080, 378.290, 378.300, 379.008, 379.1495, 388.501, 388.503, 388.513, 388.750, 388A.247, 388A.249, 391.035, 391.120, 391.925, 392.029, 392.147, 392.264, 392.271, 392.315, 394.447, 394.460, 394.465, 396.3295, 396.405, 396.525, 396.535, 396.9685, 398A.115, 408.3885, 408.3886, 408.3888, 408.5484, 412.153, 416.070, 422.2749, 422.305, 422A.342, 422A.350, 425.400, 427A.1236, 427A.872, 432.028, 432.205, 432B.175, 432B.280, 432B.290, 432B.407, 432B.430, 432B.560, 432B.5902, 433.534, 433A.360, 437.145, 439.840, 439B.420, 440.170, 441A.195, 441A.220, 441A.230, 442.330, 442.395, 442.735, 445A.665, 445B.570, 449.209, 449.245, 449A.112, 450.140, 453.164, 453.720, 453A.610, 453A.700, 458.055, 458.280, 459.050, 459.3866, 459.555, 459.7056, 459.846, 463.120, 463.15993, 463.240, 463.3403, 463.3407, 463.790, 467.1005, 480.365, 480.940, 481.063, 481.091, 481.093, 482.170, 482.5536, 483.340, 483.363, 483.575, 483.659, 483.800, 484E.070, 485.316, 501.344, 503.452, 522.040, 534A.031, 561.285, 571.160, 584.655, 587.877, 598.0964, 598.098, 598A.110, 599B.090, 603.070, 603A.210, 604A.710, 612.265, 616B.012, 616B.015, 616B.315, 616B.350, 618.341, 618.425, 622.310, 623.131, 623A.137, 624.110, 624.265, 624.327, 625.425, 625A.185, 628.418, 628B.230, 628B.760, 629.047, - *SB201_R2* – 14 – 629.069, 630.133, 630.30665, 630.336, 630A.555, 631.368, 632.121, 632.125, 632.405, 633.283, 633.301, 633.524, 634.055, 634.214, 634A.185, 635.158, 636.107, 637.085, 637B.288, 638.087, 638.089, 639.2485, 639.570, 640.075, 640A.220, 640B.730, 640C.400, 640C.600, 640C.620, 640C.745, 640C.760, 640D.190, 640E.340, 641.090, 641.325, 641A.191, 641A.289, 641B.170, 641B.460, 641C.760, 641C.800, 642.524, 643.189, 644A.870, 645.180, 645.625, 645A.050, 645A.082, 645B.060, 645B.092, 645C.220, 645C.225, 645D.130, 645D.135, 645E.300, 645E.375, 645G.510, 645H.320, 645H.330, 647.0945, 647.0947, 648.033, 648.197, 649.065, 649.067, 652.228, 654.110, 656.105, 661.115, 665.130, 665.133, 669.275, 669.285, 669A.310, 671.170, 673.450, 673.480, 675.380, 676A.340, 676A.370, 677.243, 679B.122, 679B.152, 679B.159, 679B.190, 679B.285, 679B.690, 680A.270, 681A.440, 681B.260, 681B.410, 681B.540, 683A.0873, 685A.077, 686A.289, 686B.170, 686C.306, 687A.110, 687A.115, 687C.010, 688C.230, 688C.480, 688C.490, 689A.696, 692A.117, 692C.190, 692C.3507, 692C.3536, 692C.3538, 692C.354, 692C.420, 693A.480, 693A.615, 696B.550, 696C.120, 703.196, 704B.320, 704B.325, 706.1725, 706A.230, 710.159, 711.600, and section 8 of this act, sections 35, 38 and 41 of chapter 478, Statutes of Nevada 2011 and section 2 of chapter 391, Statutes of Nevada 2013 and unless otherwise declared by law to be confidential, all public books times during office hours to inspection by any person, and may be fully copied or an abstract or memorandum may be prepared from memoranda may be used to supply the general public with copies,ts or abstracts or memoranda of the records or may be used in any other way to the advantage of the governmental entity or of the general public.
Except as otherwise provided in this section and NRS 1.4683, 1.4687, 1A.110, 3.2203, 41.071, 49.095, 49.293, 62D.420, 62D.440, 62E.516, 62E.620, 62H.025, 62H.030, 62H.170, 62H.220, 62H.320, 75A.100, 75A.150, 76.160, 78.152, 80.113, 81.850, 82.183, 86.246, 86.54615, 87.515, 87.5413, 87A.200, 80th Session (2019) – 13 – 87A.580, 87A.640, 88.3355, 88.5927, 88.6067, 88A.345, 88A.7345, 89.045, 89.251, 90.730, 91.160, 116.757, 116A.270, 116B.880, 118B.026, 119.260, 119.265, 119.267, 119.280, 119A.280, 119A.653, 119B.370, 119B.382, 120A.690, 125.130, 125B.140, 126.141, 126.161, 126.163, 126.730, 127.007, 127.057, 127.130, 127.140, 127.2817, 128.090, 130.312, 130.712, 136.050, 159.044, 159A.044, 172.075, 172.245, 176.01249, 176.015, 176.0625, 176.09129, 176.156, 176A.630, 178.39801, 178.4715, 178.5691, 179.495, 179A.070, 179A.165, 179D.160, 200.3771, 200.3772, 200.5095, 200.604, 202.3662, 205.4651, 209.392, 209.3925, 209.419, 209.521, 211A.140, 213.010, 213.040, 213.095, 213.131, 217.105, 217.110, 217.464, 217.475, 218A.350, 218E.625, 218F.150, 218G.130, 218G.240, 218G.350, 228.270, 228.450, 228.495, 228.570, 231.069, 231.1473, 233.190, 237.300, 239.0105, 239.0113, 239B.030, 239B.040, 239B.050, 239C.140, 239C.210, 239C.230, 239C.250, 239C.270, 240.007, 241.020, 241.030, 241.039, 242.105, 244.264, 244.335, 247.540, 247.550, 247.560, 250.087, 250.130, 250.140, 250.150, 268.095, 268.490, 268.910, 271A.105, 281.195, 281.805, 281A.350, 281A.680, 281A.685, 281A.750, 281A.755, 281A.780, 284.4068, 286.110, 287.0438, 289.025, 289.080, 289.387, 289.830, 293.4855, 293.5002, 293.503, 293.504, 293.558, 293.906, 293.908, 293.910, 293B.135, 293D.510, 331.110, 332.061, 332.351, 333.333, 333.335, 338.070, 338.1379, 338.1593, 338.1725, 338.1727, 348.420, 349.597, 349.775, 353.205, 353A.049, 353A.085, 353A.100, 353C.240, 360.240, 360.247, 360.255, 360.755, 361.044, 361.610, 365.138, 366.160, 368A.180, 370.257, 370.327, 372A.080, 378.290, 378.300, 379.008, 379.1495, 385A.830, 385B.100, 387.626, 387.631, 388.1455, 388.259, 388.501, 388.503, 388.513, 388.750, 388A.247, 388A.249, 391.035, 391.120, 391.925, 392.029, 392.147, 392.264, 392.271, 392.315, 392.317, 392.325, 392.327, 392.335, 392.850, 394.167, 394.1698, 394.447, 394.460, 394.465, 396.3295, 396.405, 396.525, 396.535, 396.9685, 398A.115, 408.3885, 408.3886, 408.3888, 408.5484, 412.153, 416.070, 422.2749, 422.305, 422A.342, 422A.350, 425.400, 427A.1236, 427A.872, 432.028, 432.205, 432B.175, 432B.280, 432B.290, 432B.407, 432B.430, 432B.560, 432B.5902, 433.534, 433A.360, 437.145, 439.840, 439B.420, 440.170, 441A.195, 441A.220, 441A.230, 442.330, 442.395, 442.735, 445A.665, 445B.570, 449.209, 449.245, 449A.112, 450.140, 453.164, 453.720, 453A.610, 453A.700, 458.055, 458.280, 459.050, 459.3866, 459.555, 459.7056, 459.846, 463.120, 463.15993, 463.240, 463.3403, 463.3407, 463.790, 467.1005, 480.365, 480.940, 481.063, 481.091, 481.093, 482.170, 482.5536, 483.340, 483.363, 80th Session (2019) – 14 – 483.575, 483.659, 483.800, 484E.070, 485.316, 501.344, 503.452, 522.040, 534A.031, 561.285, 571.160, 584.655, 587.877, 598.0964, 598.098, 598A.110, 599B.090, 603.070, 603A.210, 604A.710, 612.265, 616B.012, 616B.015, 616B.315, 616B.350, 618.341, 618.425, 622.310, 623.131, 623A.137, 624.110, 624.265, 624.327, 625.425, 625A.185, 628.418, 628B.230, 628B.760, 629.047, 629.069, 630.133, 630.30665, 630.336, 630A.555, 631.368, 632.121, 632.125, 632.405, 633.283, 633.301, 633.524, 634.055, 634.214, 634A.185, 635.158, 636.107, 637.085, 637B.288, 638.087, 638.089, 639.2485, 639.570, 640.075, 640A.220, 640B.730, 640C.400, 640C.600, 640C.620, 640C.745, 640C.760, 640D.190, 640E.340, 641.090, 641.325, 641A.191, 641A.289, 641B.170, 641B.460, 641C.760, 641C.800, 642.524, 643.189, 644A.870, 645.180, 645.625, 645A.050, 645A.082, 645B.060, 645B.092, 645C.220, 645C.225, 645D.130, 645D.135, 645E.300, 645E.375, 645G.510, 645H.320, 645H.330, 647.0945, 647.0947, 648.033, 648.197, 649.065, 649.067, 652.228, 654.110, 656.105, 661.115, 665.130, 665.133, 669.275, 669.285, 669A.310, 671.170, 673.450, 673.480, 675.380, 676A.340, 676A.370, 677.243, 679B.122, 679B.152, 679B.159, 679B.190, 679B.285, 679B.690, 680A.270, 681A.440, 681B.260, 681B.410, 681B.540, 683A.0873, 685A.077, 686A.289, 686B.170, 686C.306, 687A.110, 687A.115, 687C.010, 688C.230, 688C.480, 688C.490, 689A.696, 692A.117, 692C.190, 692C.3507, 692C.3536, 692C.3538, 692C.354, 692C.420, 693A.480, 693A.615, 696B.550, 696C.120, 703.196, 704B.320, 704B.325, 706.1725, 706A.230, 710.159, 711.600, and section 8 of this act, sections 35, 38 and 41 of chapter 478, Statutes of Nevada and section 2 of chapter 391, Statutes of Nevada 2013 and unless otherwise declared by law to be confidential, all public books and public records of a governmental entity must be open at all times during office hours to inspection by any person, and may be fully copied or an abstract or memorandum may be prepared from those public books and public records.
Any such copies, abstracts or memoranda may be used to supply the general public with copies, abstracts or memoranda of the records or may be used in any other way to the advantage of the governmental entity or of the general public.
3.
80th Session (2019) – 15 – 3.
- *SB201_R2* – 15 – 4.
4.
constitutes consumer credit to a covered service member or aat dependent of a covered service member, a licensee shall provide dependent of a covered service member, as applicable, both orally and in writing:
Sec.
19.
1.
Before making a loan under this chapter that constitutes consumer credit to a covered service member or a dependent of a covered service member, a licensee shall provide the following information to the covered service member or the dependent of a covered service member, as applicable, both orally and in writing:
2.
80th Session (2019) – 16 – 2.
- *SB201_R2* – 16 – 1.
1.
“Amount of loan obligation” means the amount of cash advance plus the aggregate of charges added thereto pursuant to aut3.rit“Commissioner” means the Commissioner of Financial Institutions.
“Amount of loan obligation” means the amount of cash advance plus the aggregate of charges added thereto pursuant to authority of this chapter.
economic unit or metropolitan area as determined by the Commissioner, and may include all or part of a city or several towns or cities.
3.
“Commissioner” means the Commissioner of Financial Institutions.
4.
“Community” means a contiguous area of the same economic unit or metropolitan area as determined by the Commissioner, and may include all or part of a city or several towns or cities.
6.
80th Session (2019) – 17 – 6.
The Commissioner [may] - *SB201_R2* – 17 – (a) May adopt regulations and make orders for the administration and enforcement of this chapter, in addition hereto and not inconsistent herewith.
The Commissioner [may] (a) May adopt regulations and make orders for the administration and enforcement of this chapter, in addition hereto and not inconsistent herewith.
This section and sections 1 to 7, inclusive, 9, 10, 11 and 14 to 24, inclusive, of this act become effective:
This section and sections 1 to 7, inclusive, 9, 10, and 14 to 24, inclusive, of this act become effective:
2.
80th Session (2019) – 18 – 2.
- *SB201_R2* – 18 – TEXT OF REPEALED SECTIONS 604A.411 Violation of provision of federal Warner Act constitutes violation of chapter.
~~~~~ 19 80th Session (2019)
Notwithstanding any other provision of law, a violation of any provision of section 670 of the John Warner National Defense Authorization Act for Fiscal Year 2007, Public Law 109-364, or any regulation adopted pursuant thereto shall be deemed to be a violation of this chapter.
chapter.92 Notwithstanding any other provision of law, a violation of any provision of section 670 of the John Warner National Defense Authorization Act for Fiscal Year 2007, Public Law 109- 364, or any regulation adopted pursuant thereto shall be deemed to be a violation of this chapter.
H - *SB201_R2*
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Amendments

2 amendments

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Action History

  1. Approved by the Governor. Chapter 177.

  2. Enrolled and delivered to Governor.

  3. In Senate. To enrollment.

  4. Read third time. Passed. Title approved. (Yeas: 28, Nays: 12, Excused: 1, Vacant: 1.) To Senate.

  5. Taken from General File. Placed on General File for next legislative day.

  6. Read second time.

  7. From committee: Do pass.

  8. From printer. To re-engrossment. Re-engrossed. Second reprint. To Assembly. In Assembly. Read first time. Referred to Committee on Commerce and Labor. To committee.

  9. Read third time. Amended. (Amend. No. 551.) Reprinting dispensed with. Read third time. Passed, as amended. Title approved, as amended. (Yeas: 13, Nays: 8.) To printer.

  10. From printer. To engrossment. Engrossed. First reprint. Taken from General File. Placed on General File for next legislative day.

  11. From committee: Amend, and do pass as amended. Placed on Second Reading File. Read second time. Amended. (Amend. No. 156.) To printer.

  12. Notice of eligibility for exemption.

  13. From printer. To committee.

  14. Read first time. Referred to Committee on Commerce and Labor. To printer.

Sponsors

Sponsorship breakdown

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9 sponsors · 0 co-sponsors · 58 not signed on

Sponsors (9)

Co-sponsors (0)

None.

Not signed on (58)

58 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 201 do?
AN ACT relating to financial services; adopting certain provisions of the federal Military Lending Act; requiring the Commissioner of Financial Institutions to develop, implement and maintain a database storing certain information relating to deferred deposit loans, title loans and high-interest loans made to customers in this State; providing that information in such a database is confidential under certain circumstances; authorizing a person who operates a deposit loan service, title loan service or high-interest loan service to distribute certain information and materials concerning public assistance and services; authorizing the Department of Business and Industry and the Bureau of Consumer Protection in the Office of the Attorney General to inform the public regarding certain information; revising provisions that prohibit the making of a deposit loan or high-interest loan that exceeds or requires payments that exceed a certain percentage of the customer's expected gross monthly income; and providing other matters properly relating thereto.
Who sponsors SB 201?
SB 201 is sponsored by Senator Yvanna Cancela, Senator David Parks, Assemblyman Steve Yeager, Senator Marilyn Dondero Loop, Ohrenschall, James (Democratic), Pat Spearman, Chris Brooks, Jason Frierson, and Julia Ratti.
What is the current status of SB 201?
This bill has been enacted into law. Introduced February 18, 2019. Enacted.
Where can I track SB 201?
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