to purchase is renegotiated. (b) Are not required to be made if such an agreement is extended. 2. For the purposes of this section, a lease agreement with an option to purchase: (a) Is renegotiated if it is replaced by a new agreement entered into by the same customer and lessor. (b) Has not been renegotiated if: (1) The leased property is exchanged or added to or individual items are returned and the average payment is not changed by more than 25 percent; (2) One or more of the periodic payments or portions of a periodic payment are deferred or extended; (3) Any additional fees charged are reduced; or (4) It is the subject of a judicial proceeding. (Added to NRS by 1991, 518)—(Substituted in revision for NRS 598.2805) NRS 597.060 Lease agreement: Prohibited provisions. A lease agreement with an option to purchase may not contain: 1. A confession of judgment. 2. A negotiable instrument. 3. A security interest or any other claim to an interest in property other than the property delivered by the lessor pursuant to the agreement. 4. An assignment of wages. 5. A waiver by the customer of any claims or defenses. 6. A provision authorizing the lessor, or any other person acting on his behalf, to commit any breach of the peace, in order to repossess the leased property. (Added to NRS by 1991, 518)—(Substituted in revision for NRS 598.28055) NRS 597.070 Lease agreement: Reinstatement after customer fails to make timely payment. 1. A customer who fails to make a timely payment may reinstate the lease agreement with an option to purchase without losing any rights or options contained in the agreement if he pays to the lessor: (a) All payments that are past due; (b) The reasonable costs of returning the property to the lessor and redelivering it to the customer, if the leased property has been returned to the lessor; and (c) Any applicable fee for making a late payment. 2. The payments required to be made by subsection 1 must be made within: (a) Five days after the date for renewing the agreement if the customer’s payments are required to be made monthly; or (b) Two days after the date for renewing the agreement if the customer’s payments are required to be made more frequently. 3. If a customer has paid less than two-thirds of the total amount of the payments necessary to acquire ownership of the leased property and, during the time set forth in subsection 2, returns or voluntarily surrenders the property to the lessor, other than pursuant to a judicial order, the customer may reinstate the agreement within 21 days after the date on which the property was returned. 4. If a customer has paid at least two-thirds of the total amount of the payments necessary to acquire ownership of the leased property and, during the time set forth in subsection 2, returns or voluntarily surrenders the property to the lessor, other than pursuant to a judicial order, the customer may reinstate the agreement within 45 days after the date on which the property was returned. 5. This section does not prohibit a lessor from repossessing the leased property during the time allowed for reinstatement. If the lessor repossesses the leased property during that time: (a) The repossession does not affect the customer’s right to reinstate the agreement. (b) The lessor shall return the property to the customer or provide him with property which is of comparable quality and in comparable condition if the agreement is reinstated. (Added to NRS by 1991, 518)—(Substituted in revision for NRS 598.2806) NRS 597.080 Receipt required for certain payments by customer. A lessor shall give to a customer a written receipt for each payment made in cash or with a money order. (Added to NRS by 1991, 519)—(Substituted in revision for NRS 598.28065) NRS 597.090 Advertisement for lease agreement. 1. An advertisement for a lease agreement with an option to purchase that refers to or states the amount of any required payment and the right to acquire ownership of any individual item of property must clearly and conspicuously indicate: (a) That the transaction advertised is a lease agreement with an option to purchase; (b) The total amount of payments necessary to acquire ownership of the property; and (c) That the customer does not acquire ownership of the property if the total amount of payments is not paid. 2. This section does not apply to an advertisement for a lease agreement with an option to purchase which is published in a telephone or business directory. 3. This section does not create any liability for the acts of a publisher, owner, agent or employee of a newspaper, magazine, periodical, radio station, television station or other advertising medium for the publication or dissemination of an advertisement for a lease agreement with an option to purchase if the publisher, owner, agent or employee did not know that the advertisement violated the provisions of this section. 4. As used in this section, “advertisement” means the attempt by publication, dissemination, solicitation or circulation to induce, directly or indirectly, any person to enter into a lease agreement with an option to purchase. (Added to NRS by 1991, 519)—(Substituted in revision for NRS 598.2807) NRS 597.100 Criminal penalty. A person who willfully and intentionally violates any provision of NRS 597.010 to 597.090, inclusive, is guilty of a misdemeanor. (Added to NRS by 1991, 519)—(Substituted in revision for NRS 598.28075) NRS 597.110 Civil penalty. Unless the lease agreement with an option to purchase provides otherwise: 1. In addition to any penalty imposed pursuant to NRS 597.100, the lessor or his assignee is liable, except as otherwise provided in subsection 3, in civil suit to the customer for an amount equal to the actual damages resulting from a violation of a provision of NRS 597.010 to 597.110, inclusive, or 25 percent of the total cost to acquire ownership of the property under the lease agreement, whichever amount is greater. The court shall award the prevailing party in such an action attorney’s fees and his costs of the action. 2. If the lessor commences a civil suit to enforce such a lease agreement, the customer may set off or counterclaim damages in the amount specified in subsection 1 for such a violation. 3. Such a civil penalty may not be imposed upon a lessor or his assignee unless: (a) The customer has notified the lessor or, if applicable, his assignee in writing of the alleged violation; and (b) The lessor or assignee does not correct the violation, if any, within 30 days after receiving the notice. (Added to NRS by 1991, 519)—(Substituted in revision for NRS 598.2808) DEALERS OF FARM EQUIPMENT NRS 597.112 Definitions. As used in NRS 597.112 to 597.118, inclusive, unless the context otherwise requires, the words and terms defined in NRS 597.1123 to 597.114, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2003, 3399) NRS 597.1123 “Dealer” defined. “Dealer” means any person who engages in the business of selling inventory. (Added to NRS by 2003, 3399) NRS 597.1127 “Dealer agreement” defined. “Dealer agreement” means an oral or written agreement between a supplier and a dealer by which: 1. A commercial relationship of definite duration or continuing indefinite duration is established; 2. The dealer is granted the right to offer and sell inventory at retail; 3. The dealer constitutes a component of a system for the distribution of inventory; and 4. The operation of a portion of the dealer’s business is substantially dependent upon the supplier for a continued supply of i

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