59.1-207.19 - Inapplicability of other laws; exempted transactions. - Virginia Statutes

§ 59.1-207.19. Inapplicability of other laws; exempted transactions.

A. Lease-purchase agreements that comply with this chapter are not governedby the laws relating to:

1. A home solicitation sale as defined in § 59.1-21.1;

2. (Effective until October 1, 2010) A consumer transaction as discussed in §6.1-330.77; or

2. (Effective October 1, 2010) A transaction described in § 6.2-311; or

3. A security interest as defined in subdivision (35) of § 8.1A-201.

B. This chapter does not apply to the following:

1. Lease-purchase agreements primarily for business, commercial, oragricultural purposes, or those made with governmental agencies orinstrumentalities or with organizations;

2. A lease of a safe deposit box;

3. A lease or bailment of personal property which is incidental to the leaseof real property, and which provides that the consumer has no option topurchase the leased property; or

4. A lease of an automobile.

(1988, c. 24; 2003, c. 353; 2010, c. 794.)