Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly As used in this chapter: (A) “Advertisement” means any written, visual, or oral communication made to a lessee or prospective lessee by means of personal representation, newspaper, magazine, circular, billboard, direct mailing, sign, radio, television, telephone, or other means of communication, that […]
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lessor shall disclose all of the following in a clear and conspicuous manner: (1) A brief description of the leased property, sufficient to identify the property to the lessee and lessor and a statement as to whether the property is […]
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lease-purchase agreement shall not contain a provision that requires a lessee to do any of the following: (1) Execute a warrant of attorney to confess judgment; (2) Authorize the lessor or an agent of the lessor to commit a breach […]
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly A lessor shall not require any of the following from a lessee: (A) The purchase of insurance from the lessor for property that is the subject of a lease-purchase agreement; (B) Any payment in addition to the number of lease payments specified […]
Effective: June 20, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lessee who fails to make timely lease payments has the right to reinstate the original lease-purchase agreement without losing any rights or options previously acquired under the lease-purchase agreement within three lease terms after the expiration of the last lease […]
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) No lessor shall offer a lease-purchase agreement in which fifty per cent of all lease payments necessary to acquire ownership of the leased property exceed the cash price of the leased property. When fifty per cent of all lease payments made […]
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) No advertisement for a lease-purchase agreement shall state that a lease of any specific property is available at specific amounts or on specific terms unless the lessor will lease the property at those amounts or on those terms. (B) No advertisement […]
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lessor who fails to comply with the requirements of this chapter with respect to a lease-purchase agreement is liable to the lessee in an amount equal to the sum of the following: (1) The costs of the action and reasonable […]
Effective: June 29, 1988 Latest Legislation: House Bill 421 – 117th General Assembly (A) A lessor is not liable under section 1351.08 of the Revised Code for any violation of the requirements of this chapter if, within sixty days after discovering an error, and before an action for damages is filed against him pursuant to […]
