Chapter 481M — Chapter 481M

§481M-10 Remedies of lessee. (a) In case of a violation by a lessor of any provision of this chapter with respect to any lease-purchase agreement, the lessee may bring a suit in any court of competent jurisdiction to recover actual damages from the lessor, or may set off or count…

§481M-12 Waivers. A lessor shall not require a lessee to waive: in collection of payments under the lease-purchase agreement or in repossession of the leased property. [L 1997, c 248, pt of §1; am L 2008, c 19, §32]

§481M-13 Disclosure of information. (a) The lessor shall disclose to the lessee the information required by this chapter. In a transaction involving more than one lessor, only one lessor need make the disclosures, but all lessors shall be bound by these disclosures. The disclosur…

§481M-14 Information required in disclosure. (a) For each lease-purchase agreement, the lessor shall disclose in the agreement the following items, as applicable: (b) In addition to the disclosures required pursuant to this section, the lessor shall also make the following disclo…

§481M-15 Reinstatement of agreement and repossession. (a) A lessee who breaches any lease-purchase agreement, including but not limited to the failure to make timely lease payments, shall have the right to reinstate the original lease-purchase agreement without losing any rights …

§481M-17 Renegotiation for new agreement and extensions. (a) A renegotiation shall occur when an existing lease-purchase agreement is satisfied and replaced by a new agreement undertaken by the same lessor and lessee. A renegotiation shall be considered a new agreement requiring …

§481M-4 Provisions prohibited in agreements. A lease-purchase agreement may not contain: