NRS 482.334
Brokers: Written brokerage agreement with prospective buyer required

  • form of agreement
  • notice to be included within agreement
  • form and contents of notice
  • retention of copies of brokerage agreement.

1.

Before commencing the provision of services to a prospective buyer, a broker shall execute a written brokerage agreement with the prospective buyer.

2.

A brokerage agreement executed pursuant to subsection 1 must be in at least 10-point type and must include:

(a)

The name, address, license number and telephone number of the broker.

(b)

A complete description of the vehicle, including, but not limited to, the make, model, year and color of the vehicle.

(c)

A specific statement of:

(1)

The amount of the purchase price of the vehicle; and

(2)

The date on which the brokerage agreement expires, if an agreement with a vehicle dealer to purchase a vehicle has not been signed.

(d)

One of the following statements, as applicable for the particular transaction, printed in at least 10-point bold type and placed immediately below the statement required by paragraph (c):

(1)

The broker does not receive a fee from the dealer which is selling this vehicle.

(2)

The broker does receive a fee from the dealer which is selling this vehicle.

(e)

A notice on the face of the brokerage agreement with a title in at least 14-point bold type and the text in at least 10-point bold type in substantially the following form:
[Text not available]
NOTICE
[Text not available]
This is an agreement to provide services; it is not an agreement for the purchase of a vehicle. The laws of the State of Nevada provide you with the following rights and protection:

1.

Once you have signed this agreement, you have the right to cancel it and receive a full refund of any money that you paid under any of the following circumstances:

(a)

The final price of the vehicle exceeds the purchase price stated in this agreement.

(b)

The vehicle, upon delivery, does not match the description provided in this agreement.

(c)

This agreement expired before you were presented with an agreement to purchase the vehicle from a dealer.

2.

If you have paid a deposit to purchase the vehicle, you have the right to receive a full refund of that deposit at any time before you sign an agreement to purchase the vehicle with a dealer. The amount of any deposit to purchase a vehicle must not exceed 10 percent of the purchase price of the vehicle and must be deposited by the broker in a federally insured trust account.

3.

If you are unable to resolve a dispute with your broker, please contact your local office of the Department of Motor Vehicles.
[Text not available]

(f)

The date of execution of the brokerage agreement.

(g)

The signatures of the broker and the prospective buyer.

3.

A broker shall retain copies of any brokerage agreement executed pursuant to this section for 3 years.

Source: Section 482.334 — Brokers: Written brokerage agreement with prospective buyer required; form of agreement; notice to be included within agreement; form and contents of notice; retention of copies of brokerage agreement., https://www.­leg.­state.­nv.­us/NRS/NRS-482.­html#NRS482Sec334.

482.318
Legislative declaration. 482.319
Statement regarding payment of child support by applicant for license 482.320
Manufacturers, distributors, dealers and rebuilders: Special plates required for movement of new and used vehicles 482.322
Vehicle dealers, manufacturers, distributors and rebuilders: Licenses required 482.323
Established place of business required for dealers, short-term lessors and brokers 482.325
Manufacturers, distributors, dealers and rebuilders: Application for license 482.326
Dealers: Location and name of business 482.327
Dealers: License for each branch 482.328
Vehicle taken in trade: Satisfaction of outstanding security interest. 482.330
Manufacturers, distributors, dealers and rebuilders: Certificates of registration and special plates for vehicles provided by Department upon licensing 482.332
Dealers, manufacturers, lessors, rebuilders and brokers: Duty to affix legible sign containing name of business 482.333
Brokers: Licensing 482.334
Brokers: Written brokerage agreement with prospective buyer required 482.335
Manufacturers, distributors, dealers and rebuilders: Display of license plate or plates. 482.345
Manufacturers, distributors, dealers and rebuilders: Application 482.346
Deposit in lieu of bond: Specifications 482.347
Dealers: Principal and branch places of business to be covered by vehicle dealer’s bond 482.350
Dealers: New vehicle dealer’s license not to be issued unless dealer first furnishes to Department instrument indicating dealer is franchised dealer of manufacturer 482.351
“Bait and switch,” misleading or inaccurate advertising by dealer or rebuilder prohibited 482.352
Manufacturers, distributors, dealers and rebuilders: Grounds for denial, suspension or revocation of license 482.353
Ability of applicant or licensee to petition for hearing after notice of denial, suspension or revocation 482.354
Trial de novo. 482.362
Salespersons: Licensing 482.363
Lessors and certain employees: Licensing 482.3195
Suspension of license for failure to pay child support or comply with certain subpoenas or warrants 482.3225
Conditions under which charitable organization not required to obtain certain licensure. 482.3253
Factors Director must consider before renewing license of manufacturer, distributor, rebuilder or dealer 482.3255
Denial or revocation of license: Evidence of unfitness of applicant or licensee. 482.3256
Licensees to post licenses in conspicuous place visible to public. 482.3257
Dealers: Activities constituting prima facie evidence that person is acting as dealer. 482.3263
Books and records of dealers and brokers: Location 482.3275
Dealers: Signatures not required to be acknowledged on documents required to be filed with Department or other state agencies 482.3277
Dealers: Certain purchasers and prospective purchasers to be allowed to view certain documents in Spanish language. 482.3331
Director to consider certain matters before renewing license of broker 482.3333
Brokers: Duty to procure and file bond with Department 482.3335
Brokers: Prohibition against advertising as vehicle dealer without appropriate license 482.3337
Brokers: Insured trust account required. 482.3345
Dealers: Prohibited and authorized acts if prospective buyer enters into exclusive written brokerage agreement with broker. 482.3515
Vehicle dealer required to disclose information concerning emission of carbon dioxide of certain new vehicles 482.363105
Long-term lessors also holding licenses as vehicle dealers: Authorized acts.
Last Updated

Feb. 5, 2021

§ 482.334’s source at nv​.us