Louisiana Revised Statutes 9:3353 – Inapplicability of other laws; exempted transactions
Terms Used In Louisiana Revised Statutes 9:3353
- Consumer: means a natural person who rents personal property under a rental-purchase agreement to be used primarily for personal, family, or household purposes. See Louisiana Revised Statutes 9:3352
- 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
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
A. Rental-purchase agreements which comply with this Chapter shall not be governed by the laws relating to the following:
(1) A consumer credit sale as defined in La. Rev. Stat. 9:3516(12) of the Louisiana Consumer Credit Law.
(2) A consumer credit transaction as defined in La. Rev. Stat. 9:3516(13) of the Louisiana Consumer Credit Law.
(3) A consumer loan as defined in La. Rev. Stat. 9:3516(14) of the Louisiana Consumer Credit Law.
(4) A consumer lease as defined in La. Rev. Stat. 9:3306(9) of the Louisiana Lease of Movables Act.
(5) A financed lease as defined in La. Rev. Stat. 9:3306(12) of the Louisiana Lease of Movables Act.
(6) A true lease as defined in La. Rev. Stat. 9:3306(26) of the Louisiana Lease of Movables Act.
(7) A conditional sale as defined in La. Rev. Stat. 9:3306(7) of the Louisiana Lease of Movables Act.
(8) A lease intended for security as defined in La. Rev. Stat. 10:1-201(35) of the Louisiana Commercial Laws.
B. This Chapter shall not apply to the following:
(1) Rental-purchase agreements primarily for business, commercial, or agricultural purposes, or those made with governmental agencies or instrumentalities, or with organizations.
(2) A lease of a safe deposit box.
(3) A lease or bailment of personal property which is incidental to the lease of real property, and which provides that the consumer has no option to purchase the rented property.
(4) A lease of an automobile, van, or truck of less than one ton.
Acts 1991, No. 204, §1, eff. Jan. 1, 1992; Acts 2006, No. 533, §2.