Indiana Code 24-7-4-11. Prohibited acts; additional payments; payments exceeding acquisition cost; payments to third parties

Sec. 11. Except as provided in section 1 of this chapter, a lessor shall not require or permit a lessee to:

(1) make any payment in addition to an initial rental payment and regular rental payments in order to acquire ownership of the property;

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Terms Used In Indiana Code 24-7-4-11

Property: includes personal and real property. See Indiana Code 1-1-4-5

(2) pay rental payments totaling more than the cost to acquire ownership stated in the rental purchase agreement; or

(3) make any payment to a third party as a condition to entering into a rental purchase agreement.

As added by P.L.254-1987, SEC.1. Amended by P.L.69-2018, SEC.37.

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