NRS 597.010
Definitions.
1.
“Consummation” means the time at which a customer becomes contractually obligated under a lease agreement with an option to purchase.2.
“Customer” means a natural person who leases personal property which is to be used primarily for personal, family or household purposes pursuant to a lease agreement with an option to purchase.3.
“Lease agreement with an option to purchase” means an agreement:(a)
For the possession and use of personal property by a natural person primarily for personal, family or household purposes, for an initial period of not more than 4 months;(b)
That is automatically renewable with each payment made after the initial period;(c)
That does not obligate or require the customer to continue leasing or using the property beyond the initial period; and(d)
That permits the customer to acquire the ownership of the property.4.
“Lessor” means a person who regularly provides the possession and use of property pursuant to a lease agreement with an option to purchase and to whom rental payments are initially payable as indicated on the face of the agreement.
Source:
Section 597.010 — Definitions., https://www.leg.state.nv.us/NRS/NRS-597.html#NRS597Sec010
.