2001 REGULAR SESSION (71st)                                                                     A SB216 R2 1114

Amendment No. 1114

 

Assembly Amendment to Senate Bill No. 216  Second Reprint                                         (BDR 52‑1037)

Proposed by: Committee on Commerce and Labor

Amendment Box:

Resolves Conflicts with: N/A

Amends:         Summary:               Title:               Preamble:               Joint Sponsorship:

 

ASSEMBLY ACTION              Initial and Date              |SENATE ACTION                        Initial and Date

       Adopted       Lost                                               |          Adopted       Lost                                           

Concurred In                     Not                                                        |Concurred In  Not                                 

       Receded        Not                                               |         Receded        Not                                           

 

     Amend sec. 4, page 2, by deleting line 45 and inserting:

“directly by the qualified employee or qualified officer of the contractor.”.

     Amend sec. 4.5, page 2, line 46, by deleting “A” and inserting:

“Except as otherwise provided in section 5 of this act, a”.

     Amend the bill as a whole by deleting sec. 5 and adding a new section designated sec. 5, following sec. 4.5, to read as follows:

     “Sec. 5.  1.  A contract for the repair, restoration, improvement or construction of a residential pool or spa, regardless of use, is not enforceable against the owner if the obtaining of a loan for all or a portion of the contract price is a condition precedent to the contract unless all of the following requirements are satisfied:

     (a) A third-party agrees to make the loan or give the financing.

     (b) The owner agrees to accept the loan or financing.

     (c) The owner does not rescind the loan or financing transaction within the period prescribed for rescission pursuant to the Truth in Lending Act, 15 U.S.C. §§ 1601 et seq., or chapter 598 of NRS, if applicable.

     2.  Unless and until all applicable requirements of subsection 1 are satisfied, a contractor shall not:

     (a) Perform or deliver any work, labor, material or services; or

     (b) Represent in any manner that the contract is enforceable or that the owner has any obligation under the contract.

     3.  A contract for the repair, restoration, improvement or construction of a residential pool or spa, regardless of use, is not enforceable against the owner if the contractor provides a loan or gives financing for all or a portion of the contract price unless all of the following requirements are satisfied:

     (a) The owner agrees to accept the loan or financing.

     (b) The owner does not rescind the loan or financing transaction within the period prescribed for rescission pursuant to the Truth in Lending Act, 15 U.S.C. §§ 1601 et seq., or chapter 598 of NRS, if applicable.

     4.  Unless and until all applicable requirements of subsection 3 are satisfied, a contractor shall not:

     (a) Perform or deliver any work, labor, material or services; or

     (b) Represent in any manner that the contract is enforceable or that the owner has any obligation under the contract.

   5.  As used in this section, “third-party” means a bonding company, finance company, or any other corporation or business entity who cosigns, underwrites, obtains a deed of trust for, issues, sells, purchases or acquires a loan to finance the repair, restoration, improvement or construction of a residential pool or spa.”.

     Amend sec. 9, page 6, by deleting line 8 and inserting:

     “(k) [The] Except as otherwise provided in this subsection, the dollar amount of any progress”.

     Amend sec. 9, page 6, by deleting lines 11 through 14 and inserting:

“under the contract. The schedule of payments must show the amount of each payment as a sum in dollars and cents. The schedule of payments must not provide for the contractor to”.

     Amend sec. 9, page 6, line 17, after “except” by inserting:

“for an initial down payment”.

     Amend sec. 9, page 6, lines 19 and 23, by deleting “payment schedule” and inserting:

“schedule of payments”.

     Amend sec. 9, page 6, between lines 26 and 27, by inserting:

FLUSH
 
“The provisions of this paragraph do not apply if the contractor has furnished a bond for payment and performance covering full performance and completion of the contract and the cost of the bond is included in the price of the project.”.

     Amend sec. 13, page 9, by deleting lines 9 and 10 and inserting:

“residential pool or spa, obtain:”.

     Amend sec. 13, page 9, by deleting line 24 and inserting:

“bond for the period required by the board. The contractor shall furnish to the building department of the city or county, as applicable, in which the work will be carried out, a copy of any bond.”.

     Amend the bill as a whole by deleting sections 13.3 and 13.7.

     Amend sec. 16, page 11, line 35, by deleting:

“July 1, 1998.” and inserting:

“October 1, 1999.”.

     Amend sec. 19, page 12, line 6, by deleting “13.3, 13.7,”.