Assembly Bill No. 223–Assemblymen Atkinson, Chowning, Pierce, Parks, Christensen, Anderson, Andonov, Angle, Arberry, Buckley, Carpenter, Claborn, Conklin, Geddes, Giunchigliani, Goicoechea, Goldwater, Grady, Griffin, Hardy, Horne, Knecht, Koivisto, Leslie, Mabey, Manendo, Marvel, McClain, McCleary, Oceguera, Perkins, Sherer and Williams

 

Joint Sponsor: Senator Carlton

 

CHAPTER..........

 

AN ACT relating to motor vehicles; requiring certain vehicle dealers to provide copies of certain documents translated into Spanish for viewing by a purchaser or prospective purchaser of a motor vehicle under certain circumstances; requiring the Commissioner of Financial Institutions to arrange for or otherwise cause the translation into Spanish of certain documents; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

    Section 1.  Chapter 482 of NRS is hereby amended by adding

thereto a new section to read as follows:

    Each vehicle dealer who advertises that the Spanish language

is spoken at his place of business or who conducts business by

communicating in Spanish with a purchaser or prospective

purchaser regarding the potential purchase of a motor vehicle

shall, upon the request of a purchaser or prospective purchaser of

a motor vehicle with whom the vehicle dealer or his agent is

communicating or has communicated in Spanish as a part of the

preliminary discussions and negotiations regarding the purchase

or potential purchase of the vehicle, allow the purchaser or

prospective purchaser to view the version of the forms for the

application for credit and contracts to be used in the sale of

vehicles which have been translated into Spanish pursuant to

subsection 3 of NRS 97.299.

    Sec. 2.  NRS 482.36414 is hereby amended to read as follows:

    482.36414  A person who assumes operation of a franchise

pursuant to NRS 482.36396 to 482.36414, inclusive, must be

licensed as a dealer pursuant to the provisions of NRS 482.318 to

482.363, inclusive[.] , and section 1 of this act.

    Sec. 3.  NRS 97.299 is hereby amended to read as follows:

    97.299  1.  The Commissioner of Financial Institutions shall

prescribe, by regulation, forms for the application for credit and

contracts to be used in the sale of vehicles if:

    (a) The sale involves the taking of a security interest to secure

all or a part of the purchase price of the vehicle;

    (b) The application for credit is made to or through the seller of

the vehicle;

    (c) The seller is a dealer; and

    (d) The sale is not a commercial transaction.

    2.  The forms prescribed pursuant to subsection 1 must meet the

requirements of NRS 97.165, must be accepted and acted upon by

any lender to whom the application for credit is made and, in

addition to the information required in NRS 97.185 and required to

be disclosed in such a transaction by federal law, must:

    (a) Identify and itemize the items embodied in the cash sale

price, including the amount charged for a contract to service the

vehicle after it is purchased.

    (b) In specifying the amount of the buyer’s down payment,

identify the amounts paid in money and allowed for property given

in trade and the amount of any manufacturer’s rebate applied to the

down payment.

    (c) Contain a description of any property given in trade as part

of the down payment.

    (d) Contain a description of the method for calculating the

unearned portion of the finance charge upon prepayment in full of

the unpaid total of payments as prescribed in NRS 97.225.

    (e) Include the following notice in at least 10‑point bold type:

 

NOTICE TO BUYER

    Do not sign this agreement before you read it or if it

contains any blank spaces. You are entitled to a completed

copy of this agreement. If you pay the amount due before the

scheduled date of maturity of the indebtedness and you are

not in default in the terms of the contract for more than 2

months, you are entitled to a refund of the unearned portion

of the finance charge. If you fail to perform your obligations

under this agreement, the vehicle may be repossessed and you

may be liable for the unpaid indebtedness evidenced by this

agreement.

 

    3.  The Commissioner shall arrange for or otherwise cause

the translation into Spanish of the forms prescribed pursuant to

subsection 1.

    4.  If a change in state or federal law requires the Commissioner

to amend the forms prescribed pursuant to subsection 1, the

Commissioner need not comply with the provisions of chapter 233B

of NRS when making those amendments.

    [4.]5.  As used in this section:

    (a) “Commercial transaction” means any sale of a vehicle to a

buyer who purchases the vehicle solely or primarily for commercial

use or resale.

    (b) “Dealer” has the meaning ascribed to it in NRS 482.020.

    Sec. 4.  1.  This section and section 3 of this act become

effective upon passage and approval.

    2.  Sections 1 and 2 of this act become effective on July 1,

2004.

 

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