§3353.  Inapplicability of other laws; exempted transactions

A.  Rental-purchase agreements which comply with this Chapter shall not be governed by the laws relating to the following:

(1)  A consumer credit sale as defined in R.S. 9:3516(12) of the Louisiana Consumer Credit Law.

(2)  A consumer credit transaction as defined in R.S. 9:3516(13) of the Louisiana Consumer Credit Law.

(3)  A consumer loan as defined in R.S. 9:3516(14) of the Louisiana Consumer Credit Law.

(4)  A consumer lease as defined in R.S. 9:3306(9) of the Louisiana Lease of Movables Act.

(5)  A financed lease as defined in R.S. 9:3306(12) of the Louisiana Lease of Movables Act.

(6)  A true lease as defined in R.S. 9:3306(26) of the Louisiana Lease of Movables Act.

(7)  A conditional sale as defined in R.S. 9:3306(7) of the Louisiana Lease of Movables Act.

(8) A lease intended for security as defined in R.S. 10:1-201(35) of the Louisiana Commercial Laws.

B.  This Chapter shall not apply to the following:

(1)  Rental-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 consumer has no option to purchase the rented property.

(4)  A lease of an automobile, van, or truck of less than one ton.

Acts 1991, No. 204, §1, eff. Jan. 1, 1992; Acts 2006, No. 533, §2.