If a manufacturer has established an informal dispute settlement procedure which complies
in all respects with the provisions of 16 CFR Part 703, or which has been approved by the federal trade commission or by the attorney general
of this state, the provisions of § 31-5.2-3 concerning refunds or replacement shall not apply to any consumer or lessee who has
not first resorted to that manufacturer's procedure or to the procedure set forth
in § 31-5.2-7.1. This section shall not apply unless the manufacturer, its agents, or its authorized
dealer or lessor shall have provided the consumer or lessee with clear and conspicuous
written notice of the procedure at the time of delivery of the motor vehicle. A decision resulting from an informal dispute settlement procedure shall be binding
upon the manufacturer if the consumer or lessee elects to accept the decision. The manufacturer shall perform its obligations as set forth in the decision within
a reasonable period of time not to exceed thirty (30) calendar days from the rendering
of the decision. In no event shall a consumer or lessee who has resorted to an informal dispute settlement
procedure be precluded from seeking the rights and/or remedies provided by this chapter. Any applicable statute of limitation including, but not limited to, that set forth
in § 31-5.2-12 shall be tolled during the period from the initiation of a dispute settlement procedure
until thirty (30) days following the rendering of a final decision in the process.
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