Nev. Admin. Code § 677.330 - Market value of security

The market value of any collateral taken as security for a loan, or of any item listed in subsection 1 of NRS 677.790, which is purchased, sold or discounted by the company must be determined by:

1. Reference to a standard publication in general use by the trade;

2. A copy of the bill of sale or purchase invoice;

3. In the case of household goods, the value of which is not relied upon by the licensee to secure the net amount of the loan, a statement of value represented as true and correct by the borrower and signed by him; or

4. An adequate written appraisal.

Notes

Nev. Admin. Code § 677.330

Dep't of Commerce, Thrift Companies Reg. § 13 subsec. 13.1, eff. 1-4-76; A 1-4-78; 12-14-78

NRS 677.380