Indiana Code 24-5-16.5-5. “Lease transaction”
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Terms Used In Indiana Code 24-5-16.5-5
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- retail lessee: means an individual who executes a lease agreement for a motor vehicle from a retail lessor primarily for personal, family, or household purposes. See Indiana Code 24-5-16.5-6
- vehicle: has the meaning set forth in IC 9-13-2-196. See Indiana Code 24-5-16.5-8
Sec. 5. As used in this chapter, “lease transaction” means a presentation made to a retail lessee concerning a motor vehicle, including a sales presentation or a document presented to the retail lessee, resulting in the execution of a lease agreement.
As added by P.L.151-2015, SEC.80.