Nev. Rev. Stat. § 645B.01356

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 645B.01356 - "Wholesale lender" defined

"Wholesale lender" means a person who:

1. Holds himself or herself out:

(a) For hire to serve as an agent for any person who has money to lend, if the loan is or will be secured by a lien on real property;

(b) As being able to make loans secured by liens on real property; or

(c) As being able to buy or sell notes secured by liens on real property; and

2. Does not directly:

(a) Take or receive an application from a borrower for a loan which will be secured by a lien on real property; or

(b) Negotiate any terms with a borrower relating to a loan which will be secured by a lien on real property.

NRS 645B.01356

Added to NRS by 2015, 2797

Added by 2015, Ch. 477,§15, eff. 1/1/2016.