Rescission of loan by customer.
Nev. Rev. Stat. § 604A.505
in effect1. A customer may rescind a high-interest loan on or before the close of business on the next day of business at the location where the high-interest loan was initiated. To rescind the high-interest loan, the customer must deliver to the licensee:
(a) A sum of money equal to the face value of the high-interest loan, less any fee charged to the customer to initiate the high-interest loan; or
(b) The original check, if any, which the licensee gave to the customer pursuant to the high-interest loan. Upon receipt of the original check, the licensee shall refund any fee charged to the customer to initiate the high-interest loan.
2. If a customer rescinds a high-interest loan pursuant to this section, the licensee:
(a) Shall not charge the customer any fee for rescinding the high-interest loan; and
(b) Upon receipt of the sum of money or check pursuant to subsection 1, shall give to the customer a receipt showing the account paid in full and a copy of the promissory note given to initiate the high-interest loan which must be stamped void or the receipt stamped paid in full.
Source: NV Statutes (Official Site)URL: https://www.leg.state.nv.us/nrs/NRS-604A.htmlFetched: 10/4/2026