Who Is Potentially Subject To The Nevada Installment Loan and Finance Act?

Yesterday’s post concerned the accuracy of the appellation bestowed by the legislature on the Nevada Installment Loan and Finance Act which is codified with Nevada Revised Statutes as Chapter 675. As noted, that act provides that with certain exceptions no person may engage in the “business of lending in this State” without first having obtained a license from the Nevada Commissioner of Financial Institutions.1 Conveniently, NRS 675.020(4) furnishes a definition of “business of lending in this State”:

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