Hawaii Revised Statutes 481m. Lease-Purchase Agreements for Personal Property

• 481m-1 Definitions.
  As used in this chapter, unless the context otherwise requires: "Advertisement" means a commercial message in any medium that aids, promotes, or assists, directly...
• 481m-2 Lease-Purchase Agreement Defined.
  A lease-purchase agreement is an agreement for the use of personal property by a natural person primarily for personal, family, or household purposes, for...
• 481m-3 Agreements Exempt From Other Laws.
  (a) Lease-purchase agreements are not subject to: (1) Chapter 476; and (2) Article 2A or 9 of chapter 490. (b) This chapter does not...
• 481m-4 Provisions Prohibited in Agreements.
  A lease-purchase agreement may not contain: (1) A confession of judgment; (2) A negotiable instrument; (3) A security interest or any other claim of...
• 481m-5 Limit on Total Lease Payments.
  (a) No lessor shall offer a lease-purchase agreement in which the total lease payments necessary to acquire ownership exceed twice the cash price of...
• 481m-6 Early Termination.
  The lessee shall have the right to acquire ownership of the property at any time after the initial payment by tendering to the lessor...
• 481m-7 Additional Charges.
  (a) A lessor may contract for and receive an initial nonrefundable fee not to exceed $10 per lease-purchase agreement. If the lessor requires a...
• 481m-8 Assignee Liability and Notice of Assignment.
  (a) With respect to a lease-purchase agreement, an assignee of the rights of the lessor is subject to all claims and defenses of the...
• 481m-9 Unfair or Deceptive Acts or Practices.
  Any person who violates this chapter shall be deemed to have engaged in an unfair or deceptive act or practice within the meaning of...
• 481m-10 Remedies of Lessee.
  (a) In case of a violation by a lessor of any provision of this chapter with respect to any lease-purchase agreement, the lessee may...
• 481m-11 Unconscionability.
  (a) With respect to a lease-purchase transaction, if the court as a matter of law finds the transaction, agreement, or any clause of the...
• 481m-12 Waivers.
  A lessor shall not require a lessee to waive: (1) Service of process; (2) Any defense; (3) Any counterclaim; or (4) Right of action...
• 481m-13 Disclosure of Information.
  (a) The lessor shall disclose to the lessee the information required by this chapter. In a transaction involving more than one lessor, only one...
• 481m-14 Information Required in Disclosure.
  (a) For each lease-purchase agreement, the lessor shall disclose in the agreement the following items, as applicable: (1) The total number, total amount, and...
• 481m-15 Reinstatement of Agreement and Repossession.
  (a) A lessee who breaches any lease-purchase agreement, including but not limited to the failure to make timely lease payments, shall have the right...
• 481m-16 Written Receipts for Cash or Money Order.
  A lessor shall provide the lessee a written receipt for each payment made by cash or money order. [L 1997, c 248, pt of
• 481m-17 Renegotiation for New Agreement and Extensions.
  (a) A renegotiation shall occur when an existing lease-purchase agreement is satisfied and replaced by a new agreement undertaken by the same lessor and lessee....
• 481m-18 Advertisement of Lease-Purchase Agreement.
  If an advertisement for a lease-purchase agreement refers to or states the dollar amount of any payment and the right to acquire ownership of...

Last modified: October 27, 2016