Commercial Law – General Regulatory Provisions

Rental Purchase Agreements

SECTION 6-44-7

§ 6-44-7. Exempted transactions.

This chapter does not apply to:

(1) Agreements for the rental of property in which the person who rents the property has no legal right to become the owner of the property at the end of the rental period;

(2) A lease of a safe deposit box;

(3) Commercial leases or leases entered into by an organization;

(4) Any telecommunication equipment leases or rental agreements; or

(5) Any automobile, truck, or any other vehicular and automotive equipment leases or rental agreement.

History of Section.
(P.L. 1989, ch. 481, § 1.)