Nevada Statute | Act | Code |Title 52 - Trade Regulations And Practices| US Code - US Statute | Chapter 598b

This chapter may be cited as the Nevada
Equal Credit Opportunity Law.

      (Added to NRS by 1975, 826)
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)
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)
“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)
“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)
“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)
“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)
“Person” includes a government, a
governmental agency and a political subdivision of a government.

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

      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)
If a creditor 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 )
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)
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)

      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 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)

      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)
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)

      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 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)
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)

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