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Financial Services Law Insights and Observations

Nevada Passes Bill Revising Motor Vehicle Technology Device Provisions, Assigns Responsibility to Creditors and Lessors

State Issues Auto Finance State Legislation

State Issues

On June 12, Nevada Governor Brian Sandoval signed into law SB 350, which amends deceptive trade practices provisions to prohibit certain creditors and lessors of motor vehicles from installing or requiring installation of certain GPS and starter interrupt devices without written notice. Specifically, the bill requires creditors or long-term lessors to either provide advance written notice to, or obtain written agreement from, the consumer purchasing or leasing the vehicle before installing or requiring the installation of GPS devices. Additionally, the creditor/lessor must receive a written agreement from the consumer consenting to installation and use of a starter interrupt device. The bill outlines requirements and restrictions on the use of these technology devices, and provides that “such technology devices generally are the responsibility of a creditor or long-term lessor or, if applicable, any successor in interest or another secured party . . . .” It further specifies that “such responsibility includes paying for certain costs associated with, and any damage to a motor vehicle that is caused by, the use of such technology devices.” With the passage of SB 350, any violation of the aforementioned is a “deceptive trade practice.” The law takes effect July 1, 2017.