DAYTON, Ohio — Reynolds and Reynolds recently revealed that one of its financial contract solutions now will be utilized by Hyundai Capital America.

Almost 1,500 dealerships nationwide that sell and service Hyundai and Kia vehicles and finance them through Hyundai Capital have adopted the Reynolds LAW 553 Universal Retail Sale Contract for use in their vehicle financing business.

Reynolds officials noted that LAW 553 comes into play when it's time to finalize the retail installment sale contract, what they stress is the most important document signed when financing a new or used vehicle both for the consumer and for the dealership

Company executives went on to explain that the form is designed to meet the specific financing laws and regulations from each state. To maintain standards, Reynolds recruited the law firm Hudson Cook LLP to review the LAW 553 contracts regularly so they conform to changing regulations.

"The LAW 553 contract continues to gain acceptance among dealerships and prominent lenders in automobile financing," noted Jerry Kirwan, senior vice president at Reynolds. "We're pleased to now include Hyundai Capital in this important group.

"We continue to be impressed with the strides Hyundai and Kia have made in designing, building, and marketing vehicles in the U.S," Kirwan went on to highlight.

"It's our privilege to partner with Hyundai Capital and to help their business — and Hyundai and Kia dealerships — continue to grow," he added.

Reynolds Executive Earns Spot on Elite Board

In other company news, Reynolds also announced that its director of compliance Terrence O'Loughlin has been elected to the Governing Board of the Conference on Consumer Finance Law

CCFL is a national nonprofit institution that sponsors research, professional publications, and educational programs relating to consumer and financial services law. O'Loughlin will be part of the committee that establishes policies and directs activities.

The organization was founded in 1926 by members of the legal profession and the financial services industry and now serves attorneys and financial service executives, regulators, academics and others interested in consumer and commercial financial services law.

O'Loughlin stressed his board election is a way to benefit both Reynolds and its clients.

"We are committed to being viewed as experts in this area for automobile dealerships," O'Loughlin pointed out.

"Our involvement with the CCFL is one more way to contribute professionally to this important area of law and regulation, and I look forward to the opportunity," he continued.

"It's also an ideal resource to help Reynolds remain current on the topic," O'Loughlin concluded.