§ 6-51-1. Legislative findings. The general assembly finds and declares that: (a) Rhode Island consumers who have purchased, through an extension of credit, or leased an automobile may fall behind on payments during difficult economic or emotional times and should be allowed to cure a default on the loan or lease within the time provided […]
§ 6-51-2. Definitions. For purposes of this chapter: (a) “Automobile” means any self-propelled, motored device in, upon, or by which any person is, or may be, transported or drawn upon a highway and is used or brought for use primarily for personal, family, or household purposes and shall include: (1) An automobile as defined by […]
§ 6-51-3. Default, notice, right to cure, reinstatement. (a) The default provisions of a consumer automobile lease or automobile loan agreement are enforceable only to the extent that: (1) The consumer does not make one or more payments required by the lease or loan agreement; or (2) The lessor or secured party establishes that the […]
§ 6-51-4. Repossession of automobile as a result of default under a loan or lease agreement. (a) Subject to the provisions of § 6-50-3, a lessor or secured party under a consumer automobile lease or loan agreement may take possession of the automobile. In taking possession, the lessor or secured party under a consumer automobile […]
§ 6-51-5. Statute of limitations. An action for default under an automobile lease or loan agreement, including breach of warranty or indemnity, must be commenced within two (2) years after the cause of action accrued. By the original lease or loan agreement the parties may reduce the period of limitation to not less than one […]
