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

 

March 3, 2003

____________

 

Joint Sponsor: Senator Carlton

____________

 

Referred to Committee on Transportation

 

SUMMARY—Requires certain vehicle dealers to provide copies of certain documents translated into Spanish for viewing by purchaser or prospective purchaser of motor vehicle under certain circumstances. (BDR 43‑941)

 

FISCAL NOTE:  Effect on Local Government: No.

                           Effect on the State: No.

 

~

 

EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

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:

 

2-1  Section 1.  Chapter 482 of NRS is hereby amended by adding

2-2  thereto a new section to read as follows:

2-3  Each vehicle dealer who advertises that the Spanish language

2-4  is spoken at his place of business or who conducts business by

2-5  communicating in Spanish with a purchaser or prospective

2-6  purchaser regarding the potential purchase of a motor vehicle

2-7  shall, upon the request of a purchaser or prospective purchaser of

2-8  a motor vehicle with whom the vehicle dealer or his agent is

2-9  communicating or has communicated in Spanish as a part of the

2-10  preliminary discussions and negotiations regarding the purchase

2-11  or potential purchase of the vehicle, allow the purchaser or

2-12  prospective purchaser to view the version of the forms for the

2-13  application for credit and contracts to be used in the sale of

2-14  vehicles which have been translated into Spanish pursuant to

2-15  subsection 3 of NRS 97.299.

2-16      Sec. 2.  NRS 482.36414 is hereby amended to read as follows:

2-17      482.36414  A person who assumes operation of a franchise

2-18  pursuant to NRS 482.36396 to 482.36414, inclusive, must be

2-19  licensed as a dealer pursuant to the provisions of NRS 482.318 to

2-20  482.363, inclusive[.] , and section 1 of this act.

2-21      Sec. 3.  NRS 97.299 is hereby amended to read as follows:

2-22      97.299  1.  The Commissioner of Financial Institutions shall

2-23  prescribe, by regulation, forms for the application for credit and

2-24  contracts to be used in the sale of vehicles if:

2-25      (a) The sale involves the taking of a security interest to secure

2-26  all or a part of the purchase price of the vehicle;

2-27      (b) The application for credit is made to or through the seller of

2-28  the vehicle;

2-29      (c) The seller is a dealer; and

2-30      (d) The sale is not a commercial transaction.

2-31      2.  The forms prescribed pursuant to subsection 1 must meet the

2-32  requirements of NRS 97.165, must be accepted and acted upon by

2-33  any lender to whom the application for credit is made and, in

2-34  addition to the information required in NRS 97.185 and required to

2-35  be disclosed in such a transaction by federal law, must:

2-36      (a) Identify and itemize the items embodied in the cash sale

2-37  price, including the amount charged for a contract to service the

2-38  vehicle after it is purchased.

2-39      (b) In specifying the amount of the buyer’s down payment,

2-40  identify the amounts paid in money and allowed for property given

2-41  in trade and the amount of any manufacturer’s rebate applied to the

2-42  down payment.

2-43      (c) Contain a description of any property given in trade as part

2-44  of the down payment.

3-1  (d) Contain a description of the method for calculating the

3-2  unearned portion of the finance charge upon prepayment in full of

3-3  the unpaid total of payments as prescribed in NRS 97.225.

3-4  (e) Include the following notice in at least 10‑point bold type:

 

3-5  NOTICE TO BUYER

3-6  Do not sign this agreement before you read it or if it

3-7  contains any blank spaces. You are entitled to a completed

3-8  copy of this agreement. If you pay the amount due before the

3-9  scheduled date of maturity of the indebtedness and you are

3-10  not in default in the terms of the contract for more than 2

3-11  months, you are entitled to a refund of the unearned portion

3-12  of the finance charge. If you fail to perform your obligations

3-13  under this agreement, the vehicle may be repossessed and you

3-14  may be liable for the unpaid indebtedness evidenced by this

3-15  agreement.

 

3-16      3.  The Commissioner shall arrange for or otherwise cause

3-17  the translation into Spanish of the forms prescribed pursuant to

3-18  subsection 1.

3-19      4.  If a change in state or federal law requires the Commissioner

3-20  to amend the forms prescribed pursuant to subsection 1, the

3-21  Commissioner need not comply with the provisions of chapter 233B

3-22  of NRS when making those amendments.

3-23      [4.]5.  As used in this section:

3-24      (a) “Commercial transaction” means any sale of a vehicle to a

3-25  buyer who purchases the vehicle solely or primarily for commercial

3-26  use or resale.

3-27      (b) “Dealer” has the meaning ascribed to it in NRS 482.020.

3-28      Sec. 4.  1.  This section and section 3 of this act become

3-29  effective upon passage and approval.

3-30      2.  Sections 1 and 2 of this act become effective on July 1,

3-31  2004.

 

3-32  H