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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) When a lessor and a consumer replace an existing lease-purchase agreement between the lessor and consumer with a new lease-purchase agreement, the lessor shall make the disclosures required by AS 45.35.010 for the new lease-purchase agreement. In this subsection, “new lease-purchase agreement” does not include
(1) the addition of personal property to or the return or substitution of personal property already covered by a lease-purchase agreement that covers more than one item of personal property if the average lease payment allocable to a payment period is not changed by more than 25 percent of the average lease payment before the change;
(2) a deferral or extension of a lease payment or portion of a payment;
(3) a reduction in the amount of the payments or other charges in the lease-purchase agreement; or
(4) a lease-purchase agreement that is the subject of a court action.
(b) The lessor is not required to make the disclosures under AS 45.35.010 when the lessor and the consumer extend the length of a lease-purchase agreement.
Cite this article: FindLaw.com - Alaska Statutes Title 45. Trade and Commerce § 45.35.060. Application of disclosure requirements upon occurrence of subsequent events - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-45-trade-and-commerce/ak-st-sect-45-35-060/
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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