Kentucky Statutes 367.979 – Prohibited provisions
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A rental-purchase agreement shall not contain a provision: (1) Requiring a confession of judgment;
(2) Requiring a garnishment of wages;
(3) Granting authorization to the lessor of a person acting on the lessor’s behalf to enter unlawfully upon the consumer’s premises or to commit any breach of the peace in the repossession of goods;
(4) Requiring the consumer to waive any defense, counterclaim or right of action against the lessor or a person acting on the lessor’s behalf in collection of payment under the lease or in the repossession of goods; or
(5) Requiring purchase of insurance from the lessor to cover the merchandise.
Effective: July 13, 1990
History: Created 1990 Ky. Acts ch. 196, sec. 4, effective July 13, 1990; and ch. 304, sec. 4, effective July 13, 1990.
Legislative Research Commission Note (7/13/90). This section was created by two separate 1990 Acts which are identical and have therefore been compiled together.
(2) Requiring a garnishment of wages;
Terms Used In Kentucky Statutes 367.979
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Counterclaim: A claim that a defendant makes against a plaintiff.
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- 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
(3) Granting authorization to the lessor of a person acting on the lessor’s behalf to enter unlawfully upon the consumer’s premises or to commit any breach of the peace in the repossession of goods;
(4) Requiring the consumer to waive any defense, counterclaim or right of action against the lessor or a person acting on the lessor’s behalf in collection of payment under the lease or in the repossession of goods; or
(5) Requiring purchase of insurance from the lessor to cover the merchandise.
Effective: July 13, 1990
History: Created 1990 Ky. Acts ch. 196, sec. 4, effective July 13, 1990; and ch. 304, sec. 4, effective July 13, 1990.
Legislative Research Commission Note (7/13/90). This section was created by two separate 1990 Acts which are identical and have therefore been compiled together.