Interest rate when no express written contract fixes rate.
1. When there is no express contract in writing fixing a different rate of interest, interest must be allowed at a rate equal to the prime rate at the largest bank in Nevada, as ascertained by the Commissioner of Financial Institutions, on January 1 or July 1, as the case may be, immediately preceding the date of the transaction, plus 2 percent, upon all money from the time it becomes due, in the following cases:
(a) Upon contracts, express or implied, other than book accounts.
(b) Upon the settlement of book or store accounts from the day on which the balance is ascertained.
(c) Upon money received to the use and benefit of another and detained without his consent.
(d) Upon wages or salary, if it is unpaid when due, after demand therefor has been made.
ÊThe rate must be adjusted accordingly on each January 1 and July 1 thereafter until the judgment is satisfied.
2. The provisions of this section do not apply to money owed:
(a) For the construction of a work of improvement pursuant to NRS 624.620; or
(b) By a contractor to his subcontractor pursuant to NRS 624.630.
Last modified: February 27, 2006