Effective: June 29, 1988
Latest Legislation: House Bill 421 - 117th General Assembly
(A) A lease-purchase agreement shall not contain a provision that requires a lessee to do any of the following:
(1) Execute a warrant of attorney to confess judgment;
(2) Authorize the lessor or an agent of the lessor to commit a breach of the peace in the repossession of property that is the subject of the lease-purchase agreement;
(3) Waive a defense, counterclaim, or any right the lessee has against the lessor or an agent of the lessor.
(B) No lease-purchase agreement shall provide that mere failure to return property constitutes probable cause for a criminal action.
Structure Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1351 | Lease-Purchase Agreements
Section 1351.01 | Lease-Purchase Agreement Definitions.
Section 1351.02 | Disclosures Required in Connection With Lease-Purchase Agreement.
Section 1351.03 | Provisions Prohibited in Lease-Purchase Agreement.
Section 1351.04 | Terms That May Not Be Required.
Section 1351.05 | Reinstatement of Agreement After Default.
Section 1351.06 | Acquiring Ownership When 50% of Payments Equals Cash Price.
Section 1351.07 | Advertisements - Mandatory Information to Be Supplied.