RSA 358-P:6 · Inapplicability of Other Laws; Exempted Transactions

358-P:6 Inapplicability of Other Laws; Exempted Transactions. –

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I.

Rent-to-own agreements which comply with this chapter are not governed by the laws relating to:

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(a)

A "security interest" as defined in RSA 382-A:1-201(37).

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(b)

A "consumer credit transaction" as defined in RSA 358-C:1, II and RSA 358-K:1, V.

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(c)

"Credit" as defined in RSA 358-K:1, VII and RSA 399-B:1, I.

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(d)

A "home solicitation sale" as defined in RSA 361-B:1.

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II.

Rent-to-own agreements are governed by laws relating to:

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(a)

"Trade" as defined in RSA 358-A:1, II; and

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(b)

A "consumer transaction" as defined in RSA 358-C:1, III.

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III.

This chapter shall not apply to the following:

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(a)

Rent-to-own agreements primarily for business, commercial or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;

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(b)

Rental of a safe deposit box;

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(c)

Rental or bailment of personal property which is incidental to the rental of real property, and which provides that the consumer has no option to purchase the rented property; or

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(d)

The rental of an automobile. Source. 1994, 406:1, eff. Jan. 1, 1995.

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