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Current as of January 01, 2025 | Updated by Findlaw Staff
A lease-purchase agreement may not contain
(1) a confession of judgment;
(2) a negotiable instrument;
(3) a security interest in, or another claim on, real or personal property that is not the subject of the agreement;
(4) a wage assignment;
(5) an assignment of an Alaska permanent fund dividend;
(6) a waiver by the consumer of claims or defenses relating to the agreement;
(7) a provision authorizing the lessor or a person acting on the lessor's behalf to enter the consumer's premises or to commit a breach of the peace in the repossession of personal property;
(8) an agreement by the consumer to pay attorney fees and costs, except as allowed under court rules.
Cite this article: FindLaw.com - Alaska Statutes Title 45. Trade and Commerce § 45.35.040. Prohibited provisions - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-45-trade-and-commerce/ak-st-sect-45-35-040/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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