50-682. Lease-purchase agreements; scope; applicability of other laws.
50-682
50-682. Lease-purchase agreements; scope; applicability of other laws.(a) Lease-purchase agreements which comply with this act are notgoverned by the laws relating to:
(1) Door-to-door sales as defined in K.S.A. 50-640 and amendmentsthereto;
(2) a consumer credit transaction as defined in K.S.A. 16a-1-301 andamendments thereto;
(3) a security interest as defined inK.S.A. 2009 Supp.48-1-201(b)(35),and amendmentsthereto; or
(4) an instrument as defined in K.S.A. 16-207 and amendments thereto.
(b) This act does not apply to the following:
(1) Lease-purchase agreements primarily for business, commercial oragricultural purposes, or those made with governmental agencies orinstrumentalities or with organizations;
(2) a lease of a safe deposit box;
(3) a lease or bailment of personal property which is incidental to thelease of real property, and which provides that the consumer has no option topurchase the leased property; or
(4) a lease of an automobile.
History: L. 1991, ch. 71, § 3;L. 2007, ch. 89, § 28; July 1, 2008.