1. The disclosures required by NRS 597.030: (a) Must be made if a lease agreement with an option 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)
Nevada Legal Code