Nev. Admin. Code § 670B.Sec. 17 - NEW
1. Not later than 5 business days after
receiving a request from a student loan borrower for a payoff statement, a
licensee shall provide the student loan borrower with a complete and accurate
payoff statement that clearly indicates:
(a)
The date on which the statement was prepared;
(b) The total payoff amount of the student
education loan;
(c) The date until
which the total payoff amount remains effective; and
(d) Any circumstances that could change the
total payoff amount.
2.
If, in accordance with section 12, a student loan borrower has consented to
receive electronic communications from a licensee, the licensee may provide a
payoff statement to the borrower by electronic means.
3. A licensee shall not charge a fee for
providing a payoff statement to a student loan borrower pursuant to this
section.
Notes
NRS 670B.600
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