§481M-5 Limit on total lease payments. (a) No lessor shall offer a lease-purchase agreement in which the total lease payments necessary to acquire ownership exceed twice the cash price of the rented property.
(b) When fifty per cent of all rental payments made by a lessee equals the cash price of the property disclosed to the lessee in the lease-purchase agreement, the lessee shall own the rented property and the lease-purchase agreement shall terminate. [L 1997, c 248, pt of §1]
Structure Hawaii Revised Statutes
Title 26. Trade Regulation and Practice
481M. Lease-Purchase Agreements for Personal Property
481M-2 Lease-purchase agreement defined.
481M-3 Agreements exempt from other laws.
481M-4 Provisions prohibited in agreements.
481M-5 Limit on total lease payments.
481M-8 Assignee liability and notice of assignment.
481M-9 Unfair or deceptive acts or practices.
481M-13 Disclosure of information.
481M-14 Information required in disclosure.
481M-15 Reinstatement of agreement and repossession.
481M-16 Written receipts for cash or money order.