[§481M-3] Agreements exempt from other laws.
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/hi/481m-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§481M-3] Agreements exempt from other laws.
(a)Lease-purchase agreements are not subject to:
(1)Chapter 476; and
(2)Article 2A or 9 of chapter 490.
(b)This chapter does not apply to the following:
(1)Lease-purchase agreements primarily for business, commercial, or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;
(2)A lease of a safe deposit box;
(3)A lease or bailment of personal property which is incidental to the lease of real property, and which provides that the lessee has no option to purchase the leased property; or
(4)A lease of a motor vehicle. [L 1997, c 248, pt of §1]