Nevada § 100.115 - Liability of lessor for failure to disclose

§ 100.115. Liability of lessor for failure to disclose

1. Except as otherwise provided in this section, any lessor under a commercial vehicle

lease who fails to comply with the requirements of NRS 100.105 with respect to any lessee is liable to the lessee for the sum of: (a) Any actual damage sustained by such person as a result of the failure; (b) Twenty-five percent of the total amount of monthly payments under the lease, but

not less than $100 nor more than $1,000; and (c) In the case of any successful action to enforce the foregoing liability, the costs

of the action, together with a reasonable attorney's fee as determined by the court. 2. A lessor has no liability under this section for any failure to comply with any

requirement imposed under NRS 100.105 if within 15 days after discovering an error, and prior to the institution of an

action under this section or the receipt of written notice of the error, the lessor

notifies the lessee of the error and makes whatever adjustments in the appropriate

account are necessary to insure that the lessee will not be required to pay a charge

in excess of the amount actually disclosed or correctly determined. 3. A lessor may not be held in any action brought under this section for a violation

of NRS 100.105 if the lessor shows by a preponderance of evidence that the violation was not intentional

and resulted from a bona fide error notwithstanding the maintenance of procedures

reasonably adapted to avoid any such error. 4. No provision of this section imposing any liability applies to any act done or

omitted in good faith in conformity with any rule, regulation or interpretation by

the Board of Governors of the Federal Reserve System or in conformity with any interpretation

or approval by an official or employee of the Federal Reserve System duly authorized

by the Board to issue such interpretation or approvals under such procedures as the

Board may prescribe therefor, even if after the act or omission has occurred, the

rule, regulation, interpretation or approval is amended, rescinded or determined by

judicial or other authority to be invalid for any reason. 5. The multiple failure to disclose to any lessee any information required to be disclosed

in connection with a single commercial vehicle lease entitles the lessee to a single

recovery under this section but continued failure to disclose after a recovery has

been granted gives rise to rights to additional recoveries. 6. A lessee may not take any action to offset any amount for which a lessor is potentially

liable against any amount owing to the lessor by the lessee unless the amount of the

lessor's liability to the lessee has been determined by judgment of a court of competent

jurisdiction.