Section 6-44-1. – Short title.

§ 6-44-1. Short title. This chapter shall be known as “The Rhode Island Rental Purchase Agreement Act.” History of Section.P.L. 1989, ch. 481, § 1.

Section 6-44-10. – Severability.

§ 6-44-10. Severability. The provisions of this chapter shall be severable, and if any clause, sentence, paragraph, subdivision, section, or part of this chapter shall be adjudged by any court of competent jurisdiction to be invalid, the judgment shall not affect, impair, or invalidate the remainder of this chapter but shall be confined in its […]

Section 6-44-2. – Definitions.

§ 6-44-2. Definitions. For the purposes of this chapter: (1) “Lessee” means an individual who leases personal property under a rental purchase agreement. (2) “Lessor” means a person who, in the ordinary course of business, regularly leases, offers to lease, or acts as an agent for the leasing of property under a rental purchase agreement. […]

Section 6-44-3. – General requirements of disclosure.

§ 6-44-3. General requirements of disclosure. (a) Each lessor shall give to the lessee, prior to the execution of the lease, a dated, written statement on which the lessor and lessee are identified setting out accurately and in a clear and conspicuous manner the following information with respect to the lease, as applicable: (1) A […]

Section 6-44-4. – Prohibited provisions.

§ 6-44-4. Prohibited provisions. A rental purchase agreement may not contain a provision: (1) Requiring a confession of judgment; (2) Authorizing a lessor or an agent of the lessor to commit a breach of the peace in the repossession of property; or (3) Waiving a defense counterclaim or right the lessee may have against the […]

Section 6-44-5. – Reinstatement.

§ 6-44-5. Reinstatement. (a) A lessee who fails to make timely lease payments has the right to reinstate the original rental purchase agreement without losing any rights or options previously acquired under the rental purchase agreement within three (3) lease terms after the expiration of the last lease term for which the lessee made a […]

Section 6-44-6. – Early purchase option.

§ 6-44-6. Early purchase option. A rental purchase agreement must provide that, at any time after the initial payment, the lessee may acquire ownership of the property by complying with the terms of an early purchase option that must be clearly set forth in the rental purchase agreement. History of Section.P.L. 1989, ch. 481, § […]

Section 6-44-7. – Exempted transactions.

§ 6-44-7. Exempted transactions. This chapter does not apply to: (1) Agreements for the rental of property in which the person who rents the property has no legal right to become the owner of the property at the end of the rental period; (2) A lease of a safe deposit box; (3) Commercial leases or […]

Section 6-44-8. – Advertisements.

§ 6-44-8. Advertisements. (a) If an advertisement for a rental purchase agreement states the amount of any payment or states that any or no initial payment is required, the advertisement shall also clearly and conspicuously state the following items as applicable: (1) That the transaction advertised is a lease; (2) The total of initial payments […]

Section 6-44-9. – Enforcement.

§ 6-44-9. Enforcement. (a) A lessee who has suffered a loss due to a violation of this chapter by a lessor is entitled to recover from the lessor actual damages, reasonable attorney’s fees, and court costs. (b) A lessor shall not be held liable in any action brought under this section if he or she […]