§ 2351. Definitions As used in this chapter only, unless the context otherwise requires: (1) “Motor vehicle” means and is limited to the following: (A) all vehicles propelled or drawn by power other than muscular power, except when two or more such vehicles are purchased at the same time; (B) trailers and semi-trailers, as defined […]
§ 2354. Investigations and complaints; powers of Administrator (a) The Administrator, if he or she has reasonable cause to believe that any licensee or other person has violated any of the provisions of this chapter, may make such investigation as he or she shall deem necessary, and, to the extent necessary for this purpose, the […]
§ 2355. Requirements and prohibitions as to retail installment contracts (a) Each retail installment contract shall be in writing, dated, signed by both the buyer and the seller, and completed as to all essential provisions before it is signed by the buyer. A retail installment contract need not be contained in a single document. (b) […]
§ 2356a. Finance charge limitation and method of calculation The interest rates for motor vehicle financing shall be that authorized by subdivision 41a(b)(4) of this title, and the method of interest calculation shall be as specified in subsection 41a(d) of this title. (Added 1979, No. 173 (Adj. Sess.), § 15, eff. April 30, 1980; amended […]
§ 2357. Prepayment Notwithstanding the provisions of any retail installment contract to the contrary, any buyer may prepay it in full at any time before maturity without penalty. (Added 1961, No. 227, § 7, eff. Jan. 1, 1962; amended 1967, No. 58, § 3; 1989, No. 122, § 8, eff. June 30, 1989.)
§ 2358. Refinancing retail installment contracts (a) The holder of a retail installment contract, upon request by the buyer, may agree to an amendment thereto to extend the scheduled due date of all or any part of any installment or installments or to renew, restate, or reschedule the unpaid balance of the contract. (b) The […]
§ 2359. Cases not provided for; scope This chapter shall not affect or apply to any loans or to the business of making loans under the laws of this State, nor shall any of the provisions of the loan or interest statutes of this State affect or apply to any retail installment transaction. Nothing in […]
§ 2360. Waiver No act or agreement of the retail buyer before or at the time of the making of a retail installment contract shall constitute a valid waiver of any of the provisions of this chapter. (Added 1961, No. 227, § 10, eff. Jan. 1, 1962.)
§ 2361. Penalties (a) In case of failure of any person to comply with any of the provisions of this chapter, such person or any person who acquires a contract or installment account with knowledge of such noncompliance is barred from recovery of any finance charge or of any delinquency, collection, deferral, or refinance charge […]
§ 2362. Prohibition on discrimination based on sex, sexual orientation, gender identity, marital status, race, color, religion, national origin, age, or disability No seller shall discriminate against any buyer or prospective buyer who desires to establish a retail installment contract because of the sex, sexual orientation, gender identity, marital status, race, color, religion, national origin, […]
