Nevada Administrative Code
Chapter 670B
Section 670B.Sec. 17 - NEW
Universal Citation: NV Admin Code 670B.Sec. 17
Current through December 12, 2024
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.
Added by R120-23A, eff. 11/15/2024
NRS 670B.600
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