44-1371. Motor vehicle transactions; conditional financing; traded motor vehicle; definition
If a sale or lease of a motor vehicle from a motor vehicle dealer or a lessor to a customer is conditioned on final approval of financing by a lender or lessor, the motor vehicle dealer or lessor shall retain title and possession of any motor vehicle traded by a customer as part of the transaction until financing is finally approved or the traded motor vehicle is returned to the customer. Any remedy for a violation of this section may not be waived, modified or limited by agreement or contract. For the purposes of this section the term " motor vehicle dealer" has the same meaning prescribed in section 28-4301.
Section: Previous 44-1354 44-1355 44-1361 44-1362 44-1365 44-1366 44-1367 44-1371 44-1372 44-1372.01 44-1372.02 44-1372.03 44-1372.04 44-1372.05 44-1373 NextLast modified: October 13, 2016