Nevada Loans laws & HR compliance analysis

Nevada Loans: What you need to know

An employer may make a loan or advance wages to an employee and make deductions from an employee's wages to repay such debts if the employee authorizes the withholding in advance and in writing (NV Rev. Stat. Sec. 608.110). The authorization should specify the purpose, pay periods, and amount of the deductions (NV Admin. Code Sec. 608.160).
For a Limited Time receive a FREE HR Report on the "Critical HR Recordkeeping”.  This exclusive special report covers hiring records, employment relationships, termination records, litigation issues, electronic information issues, tips for better recordkeeping, and a list of legal requirements.  Download Now
For large advances or loans (e.g., tuition expenses), it is advisable to obtain a signed promissory note acknowledging receipt of the funds, the amount, and the person's obligation to repay in addition to the written withholding authorization. Handling such loans with a promissory note will put the employer in a better position to pursue repayment if the employee terminates before completing repayment.
Last reviewed on March 31, 2016.

Read more about Loans