1. A manufacturer, importer, distributor, dealer or lienholder who reacquires or assists in reacquiring a motor vehicle, whether by judgment, decree, arbitration award, settlement agreement or voluntary agreement, shall not:
(a) Require, as a condition of the reacquisition of the motor vehicle, a buyer or lessee who is a resident of this State to agree to refrain from disclosing the problems with the motor vehicle experienced by the buyer or lessee or the nonfinancial terms of the reacquisition.
(b) Include, in any release or other agreement, whether prepared by the manufacturer, importer, distributor, dealer or lienholder, for signature by the buyer or lessee, a confidentiality clause, gag clause or similar clause prohibiting the buyer or lessee from disclosing information to any other person concerning the problems with the motor vehicle or the nonfinancial terms of the reacquisition of the motor vehicle by the manufacturer, importer, distributor, dealer or lienholder.
2. Any confidentiality clause, gag clause or similar clause included in the release or other agreement in violation of this section is void.
3. The provisions of this section do not prohibit the inclusion within the release or other agreement any confidentiality clause, gag clause or similar clause regarding the financial terms of the reacquisition of the motor vehicle.