Exemptions Of Applicability

(1) The provisions of this part are not subject to laws relating to: (a) retail installment sales contracts as defined in 31-1-202; (b) security interests regulated by the provisions of Title 30, chapters 1 through 9A; (c) leases regulated by the provisions of Title 30, chapter 2A; (d) personal solicitation sales defined in 30-14-502; and (e) interest rates or loans on money as provided for in Title 31, chapter 1. (2) The provisions of this part do not apply to: (a) a lease-purchase agreement primarily for business, commercial, or agricultural purposes or agreements made with governmental agencies, political subdivisions, or organizations; (b) a lease or bailment of personal property that is incidental to the lease of real property and that provides the consumer with no option to purchase the leased property; or (c) the lease of a motor vehicle.