675.060 - Unlicensed dealing in loans prohibited; license required for each office or other place of business. - Nevada Statutes

675.060  Unlicensed dealing in loans prohibited; license required for each office or other place of business.

      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.

      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.

      (Added to NRS by 1959, 228; A 1971, 1366; 1973, 1515; 1983, 1313, 1806; 1987, 178, 1987; 1993, 2045; 2001, 2047; 2005, 1714; 2007, 946)