Sec. 11. Except as provided in section 1 of this chapter, a lessor shall not require or permit a lessee to:
(1) make any payment in addition to an initial rental payment and regular rental payments in order to acquire ownership of the property;
(2) pay rental payments totaling more than the cost to acquire ownership stated in the rental purchase agreement; or
(3) make any payment to a third party as a condition to entering into a rental purchase agreement.
As added by P.L.254-1987, SEC.1. Amended by P.L.69-2018, SEC.37.
Structure Indiana Code
Article 7. Rental Purchase Agreements
24-7-4-1. Lessee's Acquisition of Ownership
24-7-4-2. Contractual Abridgement of Rights and Duties
24-7-4-3. Assignment of Earnings as Payment
24-7-4-6. Repossession Limited
24-7-4-7. Prejudgment Garnishment
24-7-4-10. Notice and Proof of Assignment
24-7-4-13. Acceptance and Application of Payments; Payments Exceeding Scheduled Amount Due