Louisiana Revised Statutes 38:2319.7 – Purchase option
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 38:2319.7
- Lessee: means the local governmental entity which is designated as lessee under an equipment-lease-purchase contract. See Louisiana Revised Statutes 38:2319.2
- Selected equipment: means the equipment, as determined by the local governmental entity, which shall be the subject of a lease-purchase contract under the provisions of this Part. See Louisiana Revised Statutes 38:2319.2
All equipment-lease-purchase contracts shall provide that the lessee shall have the right to purchase any piece of selected equipment at the termination of payments for such piece of equipment as set forth in the lease-purchase contract for a sum not to exceed one dollar.
Acts 1985, No. 758, §1, eff. July 17, 1985.
{{NOTE: SEE ACTS 1985, NO. 758, §§5 AND 6.}}