Sec. 12. A lessor may not require any of the following:
(1) The mandatory purchase of insurance by the lessee from the lessor.
(2) A penalty for early termination of a rental purchase agreement or for the return of an item at any point, except charges authorized under IC 24-7-5.
(3) A payment by a cosigner of the rental purchase agreement for any fees or charges that may not be imposed on the lessee as part of the rental purchase agreement.
As added by P.L.254-1987, SEC.1.
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