RS 3356 - Prohibited practices
A rental-purchase agreement shall not contain any of the following:
(1) A confession of judgment.
(2) A negotiable instrument.
(3) A security interest or any other claim of a property interest in any goods except those goods delivered by the lessor pursuant to the rental-purchase agreement.
(4) A wage assignment.
(5) A waiver by the consumer of claims or defenses.
(6) A provision authorizing the lessor or a person acting on behalf of the lessor to enter upon the premises of the consumer without contemporaneous permission by the consumer, or to commit any breach of the peace in repossession of goods.
(7) A provision requiring the purchase of insurance or waiver of liability from the lessor for damage to or destruction or loss of the property; however, the lessor may offer to the consumer any such insurance or waiver of liability if it is clearly disclosed to be optional. Nothing in this Chapter shall be construed to prohibit the lessor from requiring the consumer to provide proof of insurance or other similar property protection for the property.
Acts 1991, No. 204, §1, eff. Jan. 1, 1992.