Section 1351.02 | Disclosures Required in Connection With Lease-Purchase Agreement.
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 […]
Section 1351.03 | Provisions Prohibited in Lease-Purchase Agreement.
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 […]
Section 1351.04 | Terms That May Not Be Required.
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 […]
Section 1351.05 | Reinstatement of Agreement After Default.
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 […]
Section 1351.06 | Acquiring Ownership When 50% of Payments Equals Cash Price.
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 […]
Section 1349.74 | Unfair or Deceptive Act Under Cspa.
Effective: July 6, 2022 Latest Legislation: House Bill 272 – 134th General Assembly (A) A violation of sections 1349.66 to 1349.73 of the Revised Code is an unfair or deceptive act or practice in violation of section 1345.02 of the Revised Code. (B)(1) The attorney general shall enforce sections 1349.66 to 1349.73 of the Revised […]
Section 1349.75 | Severability.
Effective: July 6, 2022 Latest Legislation: House Bill 272 – 134th General Assembly If any provision of sections 1349.65 to 1349.74 of the Revised Code, or the application thereof to any person or circumstance, is held invalid, the remainder of those provisions and the application of such provision to other persons not similarly situated or […]
Section 1349.76 | Legislative Intent.
Effective: July 6, 2022 Latest Legislation: House Bill 272 – 134th General Assembly The intent of the general assembly in enacting sections 1349.65 to 1349.76 of the Revised Code is to establish a statewide, comprehensive enactment that applies to all parts of the state, operates uniformly throughout the state, and sets forth police regulations. No […]
Section 1349.78 | [Former r.c. 1349.72, Renumbered by h.b. 272, 134th General Assembly, Effective 7/6/2022] Written Notice to Debtor.
Effective: July 6, 2022 Latest Legislation: House Bill 272 – 134th General Assembly (A) Not less than thirty days prior to a person filing a foreclosure action to collect on a debt secured by residential real property, the person shall first send a written notice as described in division (B) of this section via United […]
Section 1349.68 | High-Volume Seller Requirement Enforcement.
Effective: July 6, 2022 Latest Legislation: House Bill 272 – 134th General Assembly Data collected solely to comply with the requirements of this chapter shall not be used for any other purpose unless required by law. Last updated May 16, 2022 at 4:20 PM