15-8-4 - Inapplicability of other laws -- Exempted transactions.
15-8-4. Inapplicability of other laws -- Exempted transactions.
(1) Rental purchase agreements that comply with this chapter are not governed by thelaws relating to:
(a) a security interest as defined in Subsection 70A-1a-201(2)(ii); or
(b) Title 70C, Utah Consumer Credit Code, except that Sections 70C-7-102 through70C-7-104 and 70C-2-205 shall apply to lessors as defined in this chapter to the same extent asthey apply to creditors under Title 70C.
(2) The chapter does not apply to the following:
(a) rental purchase agreements primarily for business, commercial, or agriculturalpurposes, 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 realproperty and which provides that the consumer has no option to purchase the leased property; or
(d) a lease of a motor vehicle, as defined in Section 41-1a-102.
Amended by Chapter 272, 2007 General Session