Sections
31 entriesSection 1812.620Establishes “Karnette Rental-Purchase Act” as the official name of the title and allows the title to be cited by that name. Sets…Section 1812.621Establishes legislative findings and intent for rental-purchase contracts, citing inadequate disclosure and unfair terms involving fees, purchase options, property loss, and repairs.…Section 1812.622Defines “rental-purchase agreement” as a renewable personal-property lease for personal, family, or household use with an initial term no longer than four…Section 1812.623Requires every rental-purchase agreement to be a single document in at least 10-point type, using the language principally used in negotiations, and…Section 1812.624Prohibits rental-purchase agreements and lessor-requested documents from authorizing confession of judgment, nonconsensual entry, required insurance, waivers of defenses or remedies, unauthorized fees…Section 1812.625Allows a lessor to require a security deposit no greater than one month's rental for lawful claims for property loss or repair…Section 1812.626Allows a rental-purchase lessor to charge a late fee only when the agreement specifies it and the payment is at least three…Section 1812.627Limits a rental-purchase consumer's liability for loss or damage to the lesser of fair market value at the time of loss or…Section 1812.628Defines a rental-purchase agreement, regardless of amount, as a home solicitation contract or offer when its initial term exceeds one week and…Section 1812.629Requires a rental-purchase lessor, on request, to provide required disclosures and a proposed agreement copy before execution. Prohibits signatures on agreements with…Section 1812.630Requires any advertisement of a rental-purchase agreement that states the amount of any payment to clearly and conspicuously disclose the listed items…Section 1812.631Sets rental-purchase default and reinstatement rules: weekly payments default after seven days and longer-interval payments after 10 days. Allows reinstatement by paying…Section 1812.632Allows a rental-purchase consumer to acquire ownership within three months by paying the cash price plus past-due fees minus periodic payments made;…Section 1812.633Requires a rental-purchase lessor to keep covered property working without extra fees and repair or replace malfunctioning property by the end of…Section 1812.634Requires a rental-purchase lessor, when transferring ownership of the rental property to the consumer, also to transfer the unexpired portion of any…Section 1812.635Prohibits a lessor from selling a service contract covering rental property while the rental-purchase agreement is in effect. Allows sale after at…Section 1812.636Allows a consumer damaged by a violation of this title by a lessor to recover the listed items. Twenty-five percent of an…Section 1812.637Exempts a lessor from liability for a bona fide, unintentional error if written notice is given within 30 calendar days after discovery…Section 1812.638Prohibits a rental-purchase lessor from unfair, unlawful, deceptive, misleading, harassing, or abusive collection or repossession conduct and restricts third-party location communications. Limits…Section 1812.639Prohibits a rental-purchase lessor from engaging in unfair, unlawful, or deceptive conduct in connection with a rental-purchase agreement and from making any…Section 1812.640Prohibits a lessor from reporting a late payment, default, or repossession to a consumer or investigative credit reporting agency if the lessor…Section 1812.641Prohibits a lessor from sending promotional material to a consumer’s reference unless the agreement or application discloses the practice and objection right,…Section 1812.642Prohibits a lessor from discriminating against a prospective consumer on grounds that would be prohibited for a creditor under the Equal Credit…Section 1812.643Requires a lessor obtaining more than one signature on a rental-purchase agreement to give each signer the prescribed cosigner notice and completed…Section 1812.644Requires rental-purchase lessors to keep cost records and agreements for two years after termination. Caps first-rental cash prices at 1.65, 1.7, or…Section 1812.645Requires an action on a rental-purchase agreement to be tried in the county where the agreement was signed or where the consumer…Section 1812.646Bars a consumer or lessor from waiving or modifying provisions of the title by declaring any such waiver or modification contrary to…Section 1812.647Establishes misdemeanor liability for any person who willfully violates any provision of the title. The offense requires a willful violation of a…Section 1812.648Establishes that the rights, remedies, and penalties created by the title are cumulative to rights, remedies, and penalties available under other laws.…Section 1812.649Establishes severability when any provision of the title, or its application to a person or circumstance, is held invalid. Preserves every other…Section 1812.650Requires clear notice and express consent for lessor-installed geophysical tracking and requested remote-assistance software. Limits tracking to lawful repossession after agreement violation…