[§481M-3]  Agreements exempt from other laws. 
(a)  Lease-purchase agreements are not subject to:



(1)  Chapter 476; and



(2)  Article 2A or 9 of chapter 490.



(b)  This chapter does not apply to the
following:



(1)  Lease-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 lessee
has no option to purchase the leased property; or



(4)  A lease of a motor vehicle. [L 1997, c 248, pt of
§1]