Section 361-D:16 – Method for Establishing Realized Value.
361-D:16 Method for Establishing Realized Value. – I. (a) If a lease is terminated early and the lessee does not exercise any purchase option and the lessee’s liability is based on the difference between the lease balance and the realized value, or if the lessee’s liability at the scheduled end of the lease term […]
Section 361-D:7 – Acknowledgment by Lessee.
361-D:7 Acknowledgment by Lessee. – I. Any acknowledgment by the lessee of delivery of a copy of a lease agreement or purchase order and any vehicle lease proposal and any credit statement which the lessor has required or requested the lessee to sign, and which the lessee has signed, during the agreement negotiations, shall […]
Section 361-D:8 – Payment or Trade-in.
361-D:8 Payment or Trade-in. – I. If a lessee has made a payment to a lessor pending the execution of a lease, has surrendered possession of a trade-in vehicle, or both, the lessee shall have the right, if the lease is not executed by the lessee and lessor, to have any trade-in vehicle returned […]
Section 361-D:9 – Total Loss Notice and Waiver of Gap Amount.
361-D:9 Total Loss Notice and Waiver of Gap Amount. – I. If the lease provides that the lessee shall be responsible for the gap amount, the lease shall disclose that fact and disclose the obligations for which the lessee would remain liable in the event of a total loss of the vehicle prior to […]
Section 361-D:10 – Refund of Excess Fees.
361-D:10 Refund of Excess Fees. – If a lessee of a vehicle pays to the lessor an amount for fees owed to the state, the licensing or transfer of title of the vehicle which amount is in excess of the actual fees due for such licensing or transfer, including any excess of the amount […]
Section 361-D:11 – Lien on Other Property.
361-D:11 Lien on Other Property. – No agreement in connection with a lease agreement which provides for the inclusion of title to or a lien upon any personal or real property, other than the motor vehicle which is the subject matter of the lease agreement, or accessories for such vehicle or special and auxiliary […]
Section 361-D:12 – Rights of Assignee of Lessor.
361-D:12 Rights of Assignee of Lessor. – I. An assignee of the lessor’s rights shall be subject to all equities and defenses of the lessee against the lessor that are clear on the face of the lease, notwithstanding an agreement to the contrary, but the assignee’s liability may not exceed the amount of the […]
Section 361-C:1 – Definitions.
361-C:1 Definitions. – In this chapter, "retail installment contract or evidence of indebtedness" means any contract or evidence of indebtedness arising out of: I. A retail installment sale in which the goods purchased are used primarily for personal, household or family purposes; or II. A loan or extension of credit payable in installments, or […]
Section 361-C:2 – Attorney’s Fees for Consumer.
361-C:2 Attorney’s Fees for Consumer. – If a retail installment contract or evidence of indebtedness provides for attorney’s fees to be awarded to the retail seller, lender or creditor in any action, suit or proceeding against the retail buyer, borrower or debtor involving the sale, loan or extension of credit, such contract or evidence […]
Section 361-C:3 – Waiver Prohibited.
361-C:3 Waiver Prohibited. – No contract or evidence of indebtedness shall contain any provision whereby the buyer, borrower or debtor waives any of his rights under this chapter, and any such waiver shall be deemed against public policy and shall be unenforceable and void. Source. 1975, 123:1, eff. July 5, 1975.