604A.150  Additional terms defined under federal law; calculation of amount financed, annual percentage rate and finance charge.

1.  As used in this chapter, unless the context otherwise requires, the following terms have the meanings ascribed to them in the Truth in Lending Act and Regulation Z:

(a) “Amount financed.”

(b) “Annual percentage rate.”

(c) “Finance charge.”

(d) “Payment schedule.”

(e) “Total of payments.”

2.  For the purposes of this chapter, proper calculation of the amount financed, annual percentage rate and finance charge for a loan must be made in accordance with the Truth in Lending Act and Regulation Z.

(Added to NRS by 2005, 1686)