§ 738. Contracts; requirements and contents. 1. Every contract between
a consumer and an automobile broker business for the purchase of an
automobile shall be in writing, shall be dated, shall contain the street
address of the automobile broker business and the consumer and shall be
signed by the consumer and by the automobile broker business. Every
contract shall comply with the requirements set forth in this section
and contain the following:

(a) A complete description of the automobile and each option, if any,
ordered; a statement of whether the automobile is or will be
manufactured in accordance with United States specifications and is or
will be certified by the manufacturer as such; if the automobile is not
or will not be manufactured in accordance with United States safety and
environmental specifications, and the consumer has retained the
automobile broker business to arrange for the modification of the
automobile to meet such specifications, the name and street address of
the modification facility and a statement in immediate proximity to such
information that the automobile broker business assumes full financial
responsibility that the automobile will be properly modified to meet all
United States safety and environmental specifications.

(b) The price of the automobile including any options ordered. If the
price set forth is an estimated price, a statement in immediate
proximity to the price that the price is an estimated price only and
that the consumer has the right to cancel the contract and to receive a
full refund if the final price exceeds the estimated price by more than
five percent.

(c) The estimated delivery date of the automobile and the place of
delivery and a statement in immediate proximity to the estimated
delivery date that, if the automobile has not been delivered in
accordance with the contract within thirty days following such estimated
delivery date, the consumer has the right to cancel the contract and to
receive a full refund, unless the delay in delivery is attributable to
the consumer.

(d) A statement of whether or not the manufacturer's warranty
accompanying the automobile is the same warranty as that furnished to
purchasers of that make automobile from an authorized dealer located in
the United States.

(e) A description of any other services and an itemization of the
charges for each. Such description shall include disclosure of the
automobile dealer from which the automobile was purchased, as well as
all fees, commissions or other valuable considerations paid by an
automobile dealer to the automobile broker business for selling,
arranging, assisting or effecting the sale of an automobile as agent,
broker, or intermediary between the consumer and the automobile dealer.

(f) If a consumer elects to cancel the contract pursuant to paragraph
(b) or (c) of this subdivision, he or she shall notify in writing the
automobile broker business at the address specified in the contract. The
automobile broker business shall make a full refund to the consumer
within ten business days following receipt of the request for a refund.
The contract shall contain a statement, setting forth the consumer's
right to cancel the contract under paragraphs (b) and (c) of this
subdivision and the refund obligations of the automobile broker
business.

(g) The statements required by paragraphs (a), (b), (c), and (f) of
this subdivision shall be printed in at least ten point bold type.

2. The contract shall be accompanied by a completed form in duplicate,
captioned "Notice of Cancellation" which shall be attached to the
contract and easily detachable, and which shall contain in at least ten
point type the following:

"Notice of Cancellation"

"You may cancel this contract, without any penalty or obligation,
within three days from the date that a copy of an executed contract is
received by you.

To cancel this contract, mail or deliver a signed and dated copy
of this cancellation notice, or any other written notice, to
(__________________________________) at (________________________)
name of automobile broker business address
not later than midnight of the third day following your receipt of a
signed contract.
I hereby cancel this transaction."

_________________________________

(signature of consumer)

_________________________

(date)

3. An automobile broker business shall deliver to the consumer or mail
to him or her at the address shown on the contract, an executed copy
thereof.

4. An automobile broker business in any transaction involving the
lease of a vehicle shall provide the retail lessee with a retail lease
agreement as provided for in section three hundred thirty-seven of the
personal property law. The automobile broker shall provide a written
disclosure of the amount of any fee, commission or other consideration
paid or expected to be paid by the lessor to the automobile broker
business in connection with a transaction involving the lease of a
vehicle. Such disclosure shall be signed by the retail lessee. The
automobile broker business shall provide the retail lessee with a signed
copy of such disclosure together with the retail lease agreement
referenced herein.