Sec. 45.35.040. Prohibited provisions.
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/ak/title-45/chapter-35/45-35-040·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 45.35.040. Prohibited provisions.
A lease-purchase agreement may not contain
(1)a confession of judgment;
(2)a negotiable instrument;
(3)a security interest in, or another claim on, real or personal property that is not the subject of the agreement;
(4)a wage assignment;
(5)an assignment of an Alaska permanent fund dividend;
(6)a waiver by the consumer of claims or defenses relating to the agreement;
(7)a provision authorizing the lessor or a person acting on the lessor's behalf to enter the consumer's premises or to commit a breach of the peace in the repossession of personal property;
(8)an agreement by the consumer to pay attorney fees and costs, except as allowed under court rules.