[§481M-2]  Lease-purchase agreement defined. 
A lease-purchase agreement is an agreement for the use of personal property by
a natural person primarily for personal, family, or household purposes, for an
initial period of four months or less that:



(1)  Is automatically renewable with each payment
after the initial period;



(2)  Does not obligate or require the lessee to
continue leasing or using the property beyond the initial period; and



(3)  Permits the lessee to become the owner of the
property. [L 1997, c 248, pt of §1]