Current through the 2024 Regular Session
Section 75-24-155 - Applicability of other laws; inapplicability to particular leases(1) Rental-purchase agreements as defined in Sections 75-24-151 through 75-24-175 are not governed by the laws relating to: (a) A consumer credit sale as defined in Section 75-66-1(2);(b) Loans, interest, finance charges, credit or installment sales as those terms are used in Mississippi statutes;(c) A security interest as defined in Section 75-1-201 of the Uniform Commercial Code.(2) Sections 75-24-151 through 75-24-175 do not apply to the following: (a) Rental-purchase agreements primarily for business, commercial or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;(b) A lease of a safe deposit box;(c) A lease or bailment of personal property which is incidental to the lease of real property and which provides that the consumer has no option to purchase the leased property; or(d) A lease of an automobile.Laws, 1995, ch. 485, § 3, eff. 7/1/1995.