ording of account number of credit card as condition to accepting check or draft; restrictions on recording of telephone number as condition to accepting credit card. NRS 597.945 Restrictions on printing expiration date or account number of credit card or debit card on receipt. NRS 597.950 Unsolicited merchandise deemed unconditional gift to recipient; liability of sender; exceptions. NRS 597.960 Collection of fee for dishonored check accepted as payment for goods or services. NRS 597.970 Restrictions on transfer of personal information through electronic transmission. [Effective October 1, 2008.] _________ NOTE: Sections 2 and 3 of chapter 478, Statutes of Nevada 2005, at page 2376, have been codified as NRS 624.920 and 624.925. LEASE OF PERSONAL PROPERTY WITH OPTION TO PURCHASE NRS 597.010 Definitions. As used in NRS 597.010 to 597.110, inclusive, unless the context otherwise requires: 1. “Consummation” means the time at which a customer becomes contractually obligated under a lease agreement with an option to purchase. 2. “Customer” means a natural person who leases personal property which is to be used primarily for personal, family or household purposes pursuant to a lease agreement with an option to purchase. 3. “Lease agreement with an option to purchase” means an agreement: (a) For the possession and use of personal property by a natural person primarily for personal, family or household purposes, for an initial period of not more than 4 months; (b) That is automatically renewable with each payment made after the initial period; (c) That does not obligate or require the customer to continue leasing or using the property beyond the initial period; and (d) That permits the customer to acquire the ownership of the property. 4. “Lessor” means a person who regularly provides the possession and use of property pursuant to a lease agreement with an option to purchase and to whom rental payments are initially payable as indicated on the face of the agreement. (Added to NRS by 1991, 515)—(Substituted in revision for NRS 598.2803) NRS 597.020 Applicability of laws. 1. A lease agreement with an option to purchase which complies with the provisions of NRS 597.010 to 597.110, inclusive, is exempt from the provisions of law governing: (a) A security interest as defined in NRS 104.1201. (b) A door-to-door sale as defined in NRS 598.180. (c) The sale of consumer goods as defined in NRS 104.9102. 2. The provisions of NRS 597.010 to 597.110, inclusive, do not apply to: (a) A lease agreement with an option to purchase entered into primarily for business, commercial or agricultural purposes. (b) A lease agreement with an option to purchase made with any governmental agency. (c) The lease of a safe deposit box. (d) A lease or bailment of personal property which is incidental to the lease of real property and which does not provide the customer with an option to purchase the leased property. (e) The lease of a motor vehicle. (Added to NRS by 1991, 516; A 1999, 393; 2005, 885) NRS 597.030 Lease agreement: Disclosures required; exception to requirement; provision of copy to customer. 1. Except as otherwise provided in subsection 2, a lease agreement with an option to purchase must contain the following disclosures, if applicable: (a) The total number and total amount of all payments which are necessary to acquire ownership of the leased property, and the dates on which those payments are due. (b) A statement that the customer will not own the leased property until he makes all of the payments necessary to acquire ownership. (c) A statement that the customer is responsible for the fair market value of the leased property if it is lost, stolen, damaged or destroyed. (d) A brief description of the leased property which is sufficient to identify the property to the customer and lessor, including: (1) The identification number of the property, if available; and (2) A statement indicating whether the property is new or used. It is not a violation of this section to indicate that new property is used. (e) A brief description of any damage to the leased property. (f) A statement of the price at which the lessor will sell the leased property to the customer for cash on the date of the agreement. If at least five items are leased as a set in a single agreement, the aggregate price of all of the items leased may be indicated. (g) The total amount of the payments required to be paid at or before the consummation of the agreement or the delivery of the leased property, whichever is later. (h) A statement that the total amount of all payments required to be paid does not include other fees which may be charged. (i) A statement of all other fees which may be charged, including, but not limited to, fees for: (1) The failure to make timely payments. (2) Defaulting on the agreement. (3) Reinstating the agreement. (4) Returning the leased property to the lessor. (j) A summary of the terms of the customer’s option to purchase the leased property, including a statement that the customer has the right to purchase the leased property at any time before the termination of the lease, and the price at which the property may be so purchased. (k) A statement identifying the person who is responsible for maintaining and servicing the property while it is being leased, and a description of that responsibility. (l) A statement that if any part of the manufacturer’s express warranty covers the leased property when the customer acquires ownership of the property, it will be transferred to the customer if allowed by the terms of the warranty. (m) The date of the transaction and the names of the customer and lessor. (n) A statement that the customer may terminate the agreement without penalty by voluntarily surrendering or returning the leased property in good repair at the expiration of the term of the lease, and paying any rental payments that are past due. (o) A notice of the customer’s right to reinstate the agreement pursuant to NRS 597.070. 2. A lessor is not required to comply with the provisions of this section if the transaction is governed by Part E of the Consumer Credit Protection Act, 15 U.S.C. §§ 1667 to 1667e, inclusive, and the lessor complies with the requirements of those sections and the regulations adopted pursuant thereto. 3. The lessor shall provide the customer with a copy of the lease agreement with an option to purchase. (Added to NRS by 1991, 516)—(Substituted in revision for NRS 598.2804) NRS 597.040 Required disclosures: Manner of making; transactions with multiple lessors; effect of inaccuracy caused by customer. 1. The disclosures required to be made by NRS 597.030 must be made: (a) At or before the consummation of the lease agreement with an option to purchase; and (b) Clearly and conspicuously in writing on the face of the agreement, directly above the line for the customer’s signature. 2. In a transaction involving more than one lessor, only one lessor is required to make the required disclosures, but all lessors are bound by those disclosures. 3. If a disclosure becomes inaccurate after it is delivered to the customer because of an act or omission of the customer, the resulting inaccuracy is not a violation of the provisions of NRS 597.010 to 597.110, inclusive. (Added to NRS by 1991, 517)—(Substituted in revision for NRS 598.28045) NRS 597.050 Disclosures required upon renegotiation of lease agreement. 1. The disclosures required by NRS 597.030: (a) Must be made if a lease agreement with an option

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