SB74 amends the Delaware Lease-purchase Agreement Act to clarify disclosure requirements for lease-purchase agreements.

SB74 amends Chapter 76, Title 6 of the Delaware Code to update the Delaware Lease-purchase Agreement Act. It mandates that lessors provide clear and conspicuous disclosures about lease-purchase agreements, including the cash price, lease payment amounts, and total payments necessary to acquire ownership. The bill also specifies that these disclosures must be made electronically when applicable. These requirements apply to lease-purchase property offered for lease-purchase, including third-party inventory, and to advertisements for lease-purchase agreements.

SB74 amends the Delaware Lease-purchase Agreement Act to clarify disclosure requirements for lease-purchase agreements.

SB74 amends Chapter 76, Title 6 of the Delaware Code to update the Delaware Lease-purchase Agreement Act. It mandates that lessors provide clear and conspicuous disclosures about lease-purchase agreements, including the cash price, lease payment amounts, and total payments necessary to acquire ownership. The bill also specifies that these disclosures must be made electronically when applicable. These requirements apply to lease-purchase property offered for lease-purchase, including third-party inventory, and to advertisements for lease-purchase agreements.