Restriction on Liability in Consumer Lease

  1. Law
  2. Indiana Code
  3. Trade Regulation
  4. Uniform Consumer Credit Code
  5. Credit Sales
  6. Restriction on Liability in Consumer Lease

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Sec. 406. The obligation of a lessee upon expiration of a consumer lease may not exceed three (3) times the average payment allocable to a monthly period under the lease. This limitation does not apply to charges for damages to the leased property or for other default.

Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.247-1983, SEC.11; P.L.45-1995, SEC.7.


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