75-24-155 - Applicability of other laws; inapplicability to particular leases. - Mississippi Statutes

§ 75-24-155. Applicability of other laws; inapplicability to particular leases.
 

(1)  Rental-purchase agreements as defined in Sections 75-24-151 through 75-24-175 are not governed by the laws relating to: 

(a) A consumer credit sale as defined in Section 75-66-1(2); 

(b) Loans, interest, finance charges, credit or installment sales as those terms are used in Mississippi statutes; 

(c) A security interest as defined in Section 75-1-201 of the Uniform Commercial Code. 

(2)  Sections 75-24-151 through 75-24-175 do not apply to the following: 

(a) Rental-purchase agreements primarily for business, commercial or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations; 

(b) A lease of a safe deposit box; 

(c) A lease or bailment of personal property which is incidental to the lease of real property and which provides that the consumer has no option to purchase the leased property; or 

(d) A lease of an automobile. 
 

Sources: Laws,  1995, ch. 485, § 3, eff from and after July 1, 1995.