Section 604A.Sec. 13 - NEW1. In response to a query by a licensee, the database must:(a) Provide the licensee with the information which a licensee may obtain pursuant to paragraphs (a) to (d), inclusive, of subsection 1 of NRS 604A.303;(b) Inform the licensee whether a customer is eligible for a loan pursuant to this chapter and chapter 604A of NRS; and(c) If the customer is ineligible for a loan, provide the licensee with the reason for such ineligibility.2. In determining the ability of a customer to repay a loan for the purposes of chapter 604A of NRS, a licensee shall consider the information provided pursuant to subsection 1 and any other available information.3. A licensee may approve a loan only if the making of the loan is permissible pursuant to the provisions of this chapter and chapter 604A of NRS.4. If the database informs a licensee that a customer is ineligible for a loan, the licensee must provide the customer with a written notice which contains: (a) The reason for the ineligibility;(b) The contact information of the service provider; and(c) A statement advising the customer to submit an inquiry to the service provider if the customer has questions regarding the specific reason for the ineligibility.5. A written notice provided by a licensee pursuant to subsection 4 does not preclude or replace any disclosure required by federal law.Nev. Admin. Code § 604A.Sec. 13
Added to NAC by Comm'r of Financial Institutions by R037-20A, eff. 12/29/2020