CHAPTER 1. APPLICATION

IC 24-7

    ARTICLE 7. RENTAL PURCHASE AGREEMENTS



IC 24-7-1

    

Chapter 1. Application

IC 24-7-1-1

Rental purchase agreements affected; lessee's residence

    

Sec. 1. (a) This article applies to a rental purchase agreement if:

        (1) the rental purchase agreement is entered into in Indiana;

        (2) the lessee is a resident of Indiana at the time a lessor
offering the rental purchase agreement solicits the rental
purchase agreement or a modification of the rental purchase
agreement by any mode of communication; or

        (3) the lessee is a resident of Indiana at the time the lessor
offering a rental purchase agreement receives either a signed
writing evidencing the creation or modification of a rental
purchase agreement or a written offer from the lessee to enter
into or modify a rental purchase agreement.

    (b) For the purposes of this article, the residence of a lessee is the
address given by the lessee as the lessee's residence in any writing
signed by the lessee in connection with a rental purchase agreement.
Until the lessee notifies the lessor of a new or different residence
address, the given residence address is presumed to be unchanged.

As added by P.L.254-1987, SEC.1.

IC 24-7-1-2

Inapplicable law

    

Sec. 2. Except as provided in this article, the provisions of:

        (1) the Federal Consumer Credit Protection Act and regulations
adopted under it;

        (2) IC 24-4.5;

        (3) IC 26-1-1-201(37);

        (4) IC 26-1-2 concerning the creation of a security interest in
property;

        (5) IC 26-1-9.1; and

        (6) rules adopted under the statutes described in subdivisions
(2) through (5);

do not apply to a rental purchase agreement.

As added by P.L.254-1987, SEC.1. Amended by P.L.57-2000,
SEC.10.



IC 24-7-1-3

Waiver of statutory protections; settlement

    

Sec. 3. Except as provided in this article, a lessor or lessee may
not waive or agree to forego rights or benefits under this article.
However, this article does not prohibit the settlement of a claim
under this article.

As added by P.L.254-1987, SEC.1.

IC 24-7-1-4

Legal and equitable principles applicable

    

Sec. 4. Except as provided in this article, this article does not limit
the application of the principles of law and equity to a rental
purchase agreement.

As added by P.L.254-1987, SEC.1.

IC 24-7-1-5

Agreements involving titled property prohibited

    

Sec. 5. Rental purchase agreements involving:

        (1) motor vehicles (as defined in IC 9-13-2-105(a)); or

        (2) other titled property;

are prohibited under this article.

As added by P.L.138-1990, SEC.3. Amended by P.L.2-1991, SEC.85;
P.L.63-2001, SEC.5 and P.L.134-2001, SEC.5; P.L.213-2007,
SEC.28; P.L.217-2007, SEC.27.

IC 24-7-1-6

Inapplicability to rental of musical instruments through programs
at schools

    

Sec. 6. This article does not apply to the rental of a musical
instrument through a program offered at an elementary or a
secondary school with the approval of the school.

As added by P.L.90-2008, SEC.19. Amended by P.L.35-2010,
SEC.89.