44-1371. Motor vehicle transactions;
conditional financing; traded motor vehicle; definition
If a sale or lease of a motor vehicle from a motor vehicle dealer or a
lessor to a customer is conditioned on final approval of financing by a lender or lessor,
the motor vehicle dealer or lessor shall retain title and possession of any motor vehicle
traded by a customer as part of the transaction until financing is finally approved or
the traded motor vehicle is returned to the customer. Any remedy for a violation of this
section may not be waived, modified or limited by agreement or contract. For the purposes
of this section the term "motor vehicle dealer" has the same meaning prescribed in
section 28-4301.
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