Nevada Revised Statutes 691C.290 – Offer to extend coverage for open-end credit transaction
Current as of: 2023 | Check for updates
|
Other versions
An offer to extend coverage for an open-end credit transaction must include, at the time of the invitation to contract, a written disclosure or, if the solicitation is made by telephone and the written disclosure is mailed to the debtor not later than 10 days after enrollment, an oral summary of the written disclosure. The written disclosure must be in not smaller than 12-point type and be in substantially the following form:
Terms Used In Nevada Revised Statutes 691C.290
- Contract: A legal written agreement that becomes binding when signed.
- Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC