[Rev. 11/21/2013 12:31:14 PM--2013]

CHAPTER 598B - EQUAL OPPORTUNITY FOR CREDIT

NRS 598B.010        Short title.

NRS 598B.020        Declaration of public policy.

NRS 598B.030        Definitions.

NRS 598B.040        “Applicant” defined.

NRS 598B.050        “Credit” defined.

NRS 598B.060        “Creditor” defined.

NRS 598B.070        “Division” defined.

NRS 598B.080        “Person” defined.

NRS 598B.090        Administration of chapter; duties of Commissioner of Financial Institutions.

NRS 598B.100        Unlawful to discriminate on basis of sex or marital status.

NRS 598B.110        Considerations in determining creditworthiness.

NRS 598B.115        Extension of credit to be mailed to same address as solicitation; exception.

NRS 598B.120        Separate credit accounts of married persons not to be aggregated for certain purposes.

NRS 598B.130        Separate reporting of credit histories required.

NRS 598B.140        Administrative remedies: Complaint to Division.

NRS 598B.150        Administrative remedies: Investigation and hearing by Division; witnesses.

NRS 598B.160        Administrative remedies: Injunctive relief.

NRS 598B.170        Civil remedies: Injunctive relief; damages; remedies not cumulative with federal law.

NRS 598B.180        Limitation of actions.

_________

 

      NRS 598B.010  Short title.  This chapter may be cited as the Nevada Equal Credit Opportunity Law.

      (Added to NRS by 1975, 826)

      NRS 598B.020  Declaration of public policy.  It is hereby declared to be the public policy of the State of Nevada that all people in the State desiring to obtain credit shall be afforded equal opportunity to have their creditworthiness evaluated under the same relevant economic standards and without any discrimination on the basis of their sex or marital status.

      (Added to NRS by 1975, 827)

      NRS 598B.030  Definitions.  As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 598B.040 to 598B.080, inclusive, have the meanings ascribed to them in such sections.

      (Added to NRS by 1975, 827)

      NRS 598B.040  “Applicant” defined.  “Applicant” means any person who applies to a creditor directly for an extension, renewal or continuation of credit, or applies to a creditor indirectly by use of an existing credit plan for an amount exceeding a previously established credit limit.

      (Added to NRS by 1975, 827)

      NRS 598B.050  “Credit” defined.  “Credit” means the right granted by a creditor to any person to:

      1.  Incur a debt and defer its payment.

      2.  Purchase property or services and defer payment for the purchase.

      3.  Defer payment of an existing debt.

      (Added to NRS by 1975, 827)

      NRS 598B.060  “Creditor” defined.  “Creditor” means any person who:

      1.  Regularly extends, renews or continues credit;

      2.  Regularly arranges for the extension, renewal or continuation of credit; or

      3.  Participates in the decision to extend, renew or continue credit as an assignee of an original creditor.

      (Added to NRS by 1975, 827)

      NRS 598B.070  “Division” defined.  “Division” means the Division of Financial Institutions of the Department of Business and Industry.

      (Added to NRS by 1975, 827; A 1983, 1700; 1993, 1802)

      NRS 598B.080  “Person” defined.  “Person” includes a government, a governmental agency and a political subdivision of a government.

      (Added to NRS by 1975, 827; A 1985, 532)

      NRS 598B.090  Administration of chapter; duties of Commissioner of Financial Institutions.  The Commissioner of Financial Institutions through the Division shall:

      1.  Administer the provisions of this chapter;

      2.  Study the nature and extent of any discrimination as to sex or marital status in credit practices in this state; and

      3.  Cooperate with and assist all public and private agencies, organizations and institutions which are formulating or carrying on programs to prevent or eliminate discrimination on the basis of sex or marital status in credit practices.

      (Added to NRS by 1975, 827; A 1983, 1700; 1987, 1876)

      NRS 598B.100  Unlawful to discriminate on basis of sex or marital status.  It is unlawful for any creditor to discriminate against any applicant on the basis of the applicant’s sex or marital status with respect to any aspect of a credit transaction.

      (Added to NRS by 1975, 827)

      NRS 598B.110  Considerations in determining creditworthiness.

      1.  A creditor shall consider the combined income of both husband and wife for the purpose of extending credit to a married couple and shall not exclude the income of either without just cause. The creditor shall determine the creditworthiness of the couple upon a reasonable evaluation of the past, present and foreseeable economic circumstances of both spouses.

      2.  A request for the signatures of both parties to a marriage for the purpose of creating a valid lien or passing clear title, waiving inchoate rights to property or assigning earnings, does not constitute credit discrimination.

      3.  An inquiry of marital status does not constitute discrimination for the purposes of this chapter if such inquiry is for the purpose of ascertaining the creditor’s rights and remedies applicable to the particular extension of credit, and not to discriminate in a determination of creditworthiness.

      4.  Consideration or application of state property laws directly or indirectly affecting creditworthiness does not constitute discrimination for the purposes of this chapter.

      (Added to NRS by 1975, 827)

      NRS 598B.115  Extension of credit to be mailed to same address as solicitation; exception.  If a creditor other than a creditor subject to the provisions of NRS 97A.142 mails a solicitation for the extension of credit to a person and the person applies for such credit, the creditor shall mail the extension of credit to the person to the same address as the solicitation, unless the creditor verifies any change of address of the person using a reliable method.

      (Added to NRS by 1999, 1346; A 2007, 48)

      NRS 598B.120  Separate credit accounts of married persons not to be aggregated for certain purposes.  If each party to a marriage separately and voluntarily applies for and obtains separate credit from the same creditor, the credit accounts shall not be aggregated or otherwise combined for purposes of determining permissible finance charges or loan ceilings.

      (Added to NRS by 1975, 828)

      NRS 598B.130  Separate reporting of credit histories required.  A credit reporting agency shall identify separately within its records of the reports it delivers, the credit histories of any person, the person’s spouse, if any, and the joint accounts of the person and spouse, if any, to the extent that such information is available to the agency.

      (Added to NRS by 1975, 828)

      NRS 598B.140  Administrative remedies: Complaint to Division.

      1.  A complaint may be filed with the Division by any person who has been injured as the result of a creditor’s violation of any provision of this chapter or any regulation adopted thereunder or who has reasonable ground to believe that he or she will be injured by a discriminatory action or practice prohibited by such provisions.

      2.  The complaint shall be made in such form and manner as the Division prescribes by regulation.

      (Added to NRS by 1975, 828)

      NRS 598B.150  Administrative remedies: Investigation and hearing by Division; witnesses.

      1.  Upon receipt of such a complaint or upon its own initiative, the Division may:

      (a) Investigate any matters alleged in the complaint or believed to be a discriminatory practice under the provisions of this chapter or regulations adopted thereunder.

      (b) Eliminate or correct the cause of the complaint or discriminatory condition by methods of conference or conciliation.

      (c) Conduct a public hearing and make a decision or order.

      2.  In conducting such investigation or hearing, the Division may issue necessary subpoenas requiring such attendance of witnesses or production of documents, and upon petition of the Division, the district court may compel obedience to the subpoenas.

      (Added to NRS by 1975, 828; A 1977, 81)

      NRS 598B.160  Administrative remedies: Injunctive relief.  If the Division orders any creditor to cease and desist from a discriminatory practice and the creditor fails to do so within 20 calendar days after service of the order, the Division may apply to the district court for an injunction to prevent any continuation of the discriminatory practice.

      (Added to NRS by 1975, 828)

      NRS 598B.170  Civil remedies: Injunctive relief; damages; remedies not cumulative with federal law.

      1.  Any person injured by a discriminatory credit practice within the scope of the provisions of this chapter may apply directly to the district court for relief. If the court determines that the creditor has violated any of such provisions and that the plaintiff has been injured thereby, the court may enjoin the creditor from continued violation, award damages to the plaintiff or grant both measures of relief.

      2.  A person may not pursue the remedy provided under this section if he or she is pursuing any remedy provided under the federal Equal Credit Opportunity Act (15 U.S.C. § 1691 et seq.) with respect to the same grievance.

      (Added to NRS by 1975, 828)

      NRS 598B.180  Limitation of actions.  Any action brought under the provisions of this chapter shall be commenced within 1 year from the date of the occurrence of the violation.

      (Added to NRS by 1975, 829)