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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 9. A retail lessor shall do the following:
(1) Comply with the requirements of Regulation M (12 CFR 213) for disclosure of gross capitalized cost, capitalized cost reduction, and adjusted capitalized cost adopted under the federal Truth in Lending Act (15 U.S.C. 1601 et seq.).
(2) Disclose to a retail lessee in a separate blocked section in a lease agreement, in capital letters in at least 10 point bold type the following:
THIS IS A LEASE AGREEMENT. THIS IS NOT A PURCHASE AGREEMENT. PLEASE REVIEW THESE MATTERS CAREFULLY AND SEEK INDEPENDENT PROFESSIONAL ADVICE IF YOU HAVE ANY QUESTIONS CONCERNING THIS TRANSACTION. YOU ARE ENTITLED TO AN EXACT COPY OF THE AGREEMENT YOU SIGN.
(3) Provide the retail lessee with a copy of each document signed by the retail lessee during the course of the lease transaction.
Cite this article: FindLaw.com - Indiana Code Title 24. Trade Regulation § 24-5-16.5-9 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-24-trade-regulation/in-code-sect-24-5-16-5-9/
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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