reglab/statecodes huggingface dataset:
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3302. Declaration of policy

RS 9:3302 - Declaration of policy
It is declared to be the policy of this state to encourage and foster the leasing of movable property to individuals and businesses, thus promoting economic growth and development. To this end, financed leases, which have previously been construed as conditional sales transactions, are hereby recognized as valid and enforceable in this state.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
{{NOTE: SEE ACTS 1986, NO. 213, §2.}}
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3304. Exclusions

RS 9:3304 - Exclusions
A. This Chapter shall not apply to leases of immovable property. This Chapter shall, however, continue to apply to leases of movable property which subsequently becomes a component part of an immovable or which are immobilized by declaration as provided under Articles 466 and 467 of the Louisiana Civil Code, in which case the lessor shall retain all legal rights to and ownership of the leased equipment notwithstanding its immobilization. This Chapter shall also continue to apply to leases of equipment which are subsequently incorporated into other movable property not otherwise subject to the lease, in which case the lessor shall retain all legal rights to and ownership of the leased equipment notwithstanding Article 510 of the Louisiana Civil Code.
B. This Chapter shall not apply to leases of incorporeal movables or licenses of contractual or proprietary rights, such as licenses for the use of computer software, trade names, copyrights, or franchises.
C. R.S. 9:3312, 3331 and 3332 shall not apply to short term leases.
D. R.S. 9:3312 and 3339 through 3341 shall not apply to leases of movable property by or to government or any governmental agency or instrumentality.
E. R.S. 9:3312, 3313, 3314, 3331, 3332, and 3339 through 3341 shall not apply to equipment leases by public utilities, common carriers, or cable television or communication companies if a subdivision or agency of this state or of any municipality or of the United States regulates, approves, or consents to the charges for the services involved.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
{{NOTE: SEE ACTS 1986, NO. 213, §2.}}
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3305. Waiver; agreement to forego rights

RS 9:3305 - Waiver; agreement to forego rights
A consumer lessee may not waive or agree to forego any rights or benefits under this Chapter except that a claim, if disputed in good faith, may be settled by compromise or agreement.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3308. Construction against implicit repeal

RS 9:3308 - Construction against implicit repeal
This Chapter being a general act is intended as a unified coverage of the subject matter. No part of this Chapter shall be deemed impliedly repealed by subsequent legislation if such construction can be reasonably avoided.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3309. True leases

RS 9:3309 - True leases
Except as specifically provided in this Chapter, true leases are subject to Title IX of Book III of the Civil Code entitled "Of Lease."
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3310. Financed leases

RS 9:3310 - Financed leases
A. Except as specifically provided in this Chapter, financed leases are subject to Title IX of Book III of the Civil Code entitled "Lease." Financed leases entered into after Chapter 9 of the Louisiana Commercial Laws becomes effective are a type of secured transaction in favor of the lessor, and thus are additionally subject to R.S. 10:9-101, et seq.
B. Notwithstanding the fact that a financed lease creates a security interest under Chapter 9 of the Louisiana Commercial Laws, the lessor under a properly perfected financed lease shall retain full legal and equitable title and ownership in and to the leased equipment until such time as the lessee exercises his option or complies with his obligation to purchase the leased equipment from the lessor as provided under the lease agreement. The provisions of this Chapter shall further not affect present taxation of financed leases.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1989, No. 137, §4, eff. Sept. 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3310.1. Constructive delivery and possession in sale/lease-back situations

RS 9:3310.1 - Constructive delivery and possession in sale/lease-back situations
When equipment is sold to, and is contemporaneously leased under a true or financed lease by the vendee/lessor back to the vendor/lessee, the filing of a financing statement as provided in R.S. 9:3342(B) suffices for the transfer of ownership of the equipment as against third persons.
Acts 1989, No. 137, §4, eff. Sept. 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3311. Interest rate charges; true leases

RS 9:3311 - Interest rate charges; true leases
Interest rate charges capitalized into both consumer and commercial purpose true leases are unregulated and are not subject to conventional interest rate or usury limitations.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3312. Interest rate charges; financed leases

RS 9:3312 - Interest rate charges; financed leases
A. Maximum interest rate charges capitalized into consumer purpose financed leases shall be limited as follows:
(1) The total of:
(a) Twenty-four percent per year on that part of the adjusted capitalized cost under the lease which is not in excess of one thousand seven hundred fifty dollars; and
(b) Eighteen percent per year on that part of the adjusted capitalized cost under the lease which is more than one thousand seven hundred fifty dollars but not in excess of five thousand dollars; and
(c) Twelve percent per year on that part of the adjusted capitalized cost under the lease which is more than five thousand dollars; or
(2) Eighteen percent per year on the adjusted capitalized cost under the lease; or
(3) Any other method of computation which would not yield greater interest rate charges than those computed under Paragraphs (1) or (2) of this Subsection.
B. Interest rate charges capitalized into commercial purpose financed leases are unregulated and are not subject to conventional interest rate or usury limitations.
C. This Section does not limit or restrict the manner of contracting for interest rate charges, whether by way of add-on or otherwise, so long as the rate in connection with consumer purpose financed leases does not exceed that permitted by R.S. 9:3312(A). Interest rates may be calculated on the assumption that all scheduled rental payments will be made when due and the effects of prepayment are governed under the provisions of rebate as provided under R.S. 9:3319(B).
D. For purposes of this Section, the term of a consumer financed lease commences on the date the lease agreement is executed. Differences in lengths of months may be disregarded and a day may be counted as one-thirtieth of a month. Subject to classifications and differentiations, the lessor may reasonably establish a part of a month in excess of fifteen days to be treated as a full month if periods of fifteen days or less are disregarded and if that procedure is not consistently used to obtain a greater yield than would otherwise be permitted under R.S. 9:3312(A).
E. A lessor shall not divide a consumer financed lease into multiple agreements for the purpose of obtaining higher interest rate charges than would otherwise be permitted by R.S. 9:3312(A).
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3313. Additional lease related charges

RS 9:3313 - Additional lease related charges
A. Both true and financed lease agreements, whether for consumer or commercial purposes, may contractually provide for the assessment, imposition, and collection of the following additional lease related charges:
(1) Taxes, including but not limited to sales, lease, use, excise, and personal property taxes.
(2) Reasonable excess mileage or use charges.
(3) License, title, and registration fees.
(4) Fees for preparation of lease agreements and other documents related to the transaction.
(5) Notarial fees.
(6) Recordation fees.
(7) Repair, maintenance and other fees incident to the use of the leased equipment by the lessee.
(8) Refundable security deposits.
(9) Voluntary credit life and credit accident and disability insurance as provided under R.S. 9:3332.
(10) Property insurance as provided under R.S. 9:3333.
(11) Early termination charges as provided under R.S. 9:3316.
(12) Reasonable excess wear and tear charges.
(13) Reasonable attorney's fees not to exceed twenty-five percent of the total amount payable under the lease.
(14) NSF check charges as provided under R.S. 9:3529.
(15) Late charges as provided under R.S. 9:3314.
(16) Deferral charges as provided under R.S. 9:3315.
(17) Such additional related charges as may be contractually agreed to by the lessee.
B. Such additional lease related charges shall not be considered interest and are exempt from conventional interest rate and usury limitations as well as the limitations of R.S. 9:3312(A).
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3314. Late charges

RS 9:3314 - Late charges
A. Lessees under both true and financed consumer lease agreements may contractually agree to pay late charges on any one or more rental payments which are not paid in full within ten days after the scheduled or deferred due dates, in an amount not to exceed five percent of the unpaid amount of such delinquent rental payment, or twenty-five dollars, whichever is greater.
B. Lessees under both true and financed commercial lease agreements may contractually agree to pay late charges in any amount or at any rate on any one or more delinquent rental payments which are not paid in full on the scheduled or deferred due dates.
C. Late charges under R.S. 9:3314(A) may be collected only once on a delinquent rental payment however long it remains in default. No such late charge may be collected on a rental payment that is paid in full within ten days after its scheduled due date for consumer leases, even though an earlier maturing rental payment or a late charge on an earlier rental payment may not have been paid in full. For purposes of this Subsection, payments are deemed to be applied first to current rentals and then to delinquent rentals and then to late charges.
D. No late charge may be collected on a consumer lease payment which has been deferred and a deferral charge has been paid or incurred, provided that the deferred payment is paid within ten days of its deferral date with regard to consumer leases.
E. Late charges may be collected at the time they accrue or at any time thereafter. The lessor is not required to notify the lessee of the assessment of late charges.
F. Late charges may be assessed in addition to interest rate charges as provided under R.S. 9:3311 and 3312.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3315. Deferral charges

RS 9:3315 - Deferral charges
A. The parties to a true or financed consumer lease may agree, verbally or in writing, before or after default, to a deferral of all or part of one or more unpaid rental payments in consideration for which the lessor may assess, impose, and collect a deferral charge computed by applying a deferral charge rate not to exceed a maximum rate of twenty-five percent per annum, to the amount deferred over the period of deferral, calculated without regard to differences and lengths of months, but proportionately for a part of a month, counting each day as one-thirtieth of a month.
B. The parties to a true or financed commercial lease may agree, verbally or in writing, before or after default, to a deferral of all or part of one or more unpaid rental payments in consideration for which the lessor may assess, impose, and collect a deferral charge computed by applying a deferral charge rate to the amount deferred over the period of deferral, calculated without regard to differences and lengths of months, but proportionately for a part of a month, counting each day as one-thirtieth of a month. For purposes of this Subsection, deferral charges assessed in connection with commercial leases shall be unregulated and exempt from conventional interest rate and usury limitations.
C. A true or financed lease agreement, including in connection with both consumer leases and commercial leases, may provide that if any one or more rental payments are not paid within the time periods specified under the agreement, the lessor may unilaterally grant a deferral of such payments and assess deferral charges as provided in this Section. Deferral charges may not be assessed after the lessor elects to cancel the lease following the lessee's default as provided in R.S. 9:3318(A)(2).
D. A lessor, in addition to deferral charges, may assess appropriate charges for insurance for the extended period. The amount of these additional insurance charges which are not paid in cash may be added to the amount deferred for the purpose of calculating the deferral charge.
E. Deferral charges may be assessed in addition to interest rate charges as provided under R.S. 9:3311 and 3312.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3316. Early termination charges

RS 9:3316 - Early termination charges
A. Both true and financed lease agreements, whether for consumer or commercial purposes, may contractually provide for the assessment, imposition, and collection of reasonable early termination charges, including but not limited to:
(1) An early termination fee in a fixed amount as contractually agreed to by the lessee.
(2) Excess mileage or use charges as provided under the lease agreement.
(3) Reasonable excess wear and tear charges as provided under the lease agreement.
(4) The difference between (i) the original adjusted capital cost of the leased equipment, less (ii) accumulated depreciation calculated in accordance with the lessor's standard depreciation formula through the date of termination, less (iii) the realized value of the leased equipment following termination of the lease.
(5) Official fees and taxes imposed in connection with termination of the lease.
(6) Current or delinquent rental payments and other charges under the lease which are then due and payable.
(7) Additional reasonable early termination charges which may be contractually provided for under the lease agreement.
B. Early termination charges may be assessed in addition to interest rate charges as provided under R.S. 9:3311 and 3312.
C. Any refundable security deposit held by the lessee may be retained and shall be credited against the lessee's liability for early termination charges.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3317. End of lease charges

RS 9:3317 - End of lease charges
A. Both true and financed lease agreements, whether in connection with consumer or commercial purpose leases, may contractually provide for the assessment, imposition, and collection of reasonable end of lease charges, including but not limited to:
(1) End of lease fees in a fixed amount as may be agreed to by the lessee.
(2) Excess mileage or use charges as provided under the lease agreement.
(3) Reasonable excess wear and tear charges as provided under the lease agreement.
(4) The difference between (i) the estimated end of term residual value of the leased equipment and (ii) the actual realized value of the leased equipment following termination of the lease.
(5) Official fees and taxes imposed in connection with termination of the lease.
(6) Current or delinquent rental payments and other charges under the lease which are then due and payable.
(7) Any additional reasonable end of lease charges which may be contractually provided for under the lease agreement.
B. End of lease charges may be assessed in addition to interest rate charges as provided under R.S. 9:3311 and 3312.
C. Any refundable security deposit held by the lessor may be retained and shall be credited against the lessee's liability for end of lease charges.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3318. Options of lessor following lessee's default

RS 9:3318 - Options of lessor following lessee's default
A.(1) In the event of default by the lessee under a true lease, or under a financed lease entered into prior to the time Chapter 9 of the Louisiana Commercial Laws becomes effective, the lessor may do any one of the following:
(a) He may file an appropriate collection action against the lessee to recover accelerated rental payments and additional amounts that are then due and outstanding and that will become due in the future over the full base term of the lease, as provided under R.S. 9:3319.
(b) He may cancel the lease, recover possession of the leased property and recover such additional amounts and liquidated damages as may be contractually provided under the lease agreement, as provided under R.S. 9:3320 through 3328.
(2) The above remedies following the lessee's default are not cumulative in nature. The lessor may not seek to collect accelerated rental payments under the lease and also to cancel the lease and recover possession of the leased equipment.
B. In the event of default by the lessee under a financed lease entered into after Chapter 9 of the Louisiana Commercial Laws becomes effective, the lessor may at his option:
(1) Exercise such rights and remedies following default as are provided under this Chapter; or
(2) Exercise such rights and remedies following default as are provided under Chapter 9 of the Louisiana Commercial Laws.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1989, No. 137, §4, eff. Sept. 1, 1989.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3319. Accelerated rental payments

RS 9:3319 - Accelerated rental payments
A. If the lessor under either a true or financed lease elects to recover accelerated future rental payments and additional amounts that are then due and owing under the lease following the lessee's default, as provided under R.S. 9:3318(A)(1), the lessor shall commence an ordinary collection proceeding against the lessee as provided under the Louisiana Code of Civil Procedure. Any refundable security deposit held by the lessor may be retained and shall be credited against lessee's liability for accelerated rental payments. The lessor under a consumer lease shall not seek to recover full accelerated rental payments from the lessee, but shall grant the lessee an appropriate rebate of unearned interest rate charges capitalized into the lease as required under R.S. 9:3319(B).
B. If the lessor under a consumer lease elects to accelerate future rental payments following the lessee's default, the lessor shall grant the lessee an appropriate rebate of unearned interest rate charges originally capitalized into the lease. This rebate shall represent at least as great a proportion of interest rate charges, after first deducting from those charges a prepayment charge of not more than twenty-five dollars, as the sum of the monthly time balances beginning one month after the month in which payment is accelerated, bears to the sum of all monthly time balances under the schedule of payments under the lease, which method of rebate, upon acceleration, is commonly referred to as the "Rule of 78's" or the "sum of digits" rebate method. If more than one-half of the term of the lease has elapsed, the rebate shall be computed without deducting a prepayment charge. For the purposes of rebate upon acceleration, unearned deferral charges shall be rebated on the same basis as interest rate charges. Following acceleration of rental payments and the filing of suit against the lessee, any unpaid amounts due and owing by the lessee to the lessor shall bear interest at the rate of twenty-five percent per annum until paid in full.
C. If the lessee pays accelerated future rental payments to the lessor, the lessor must permit the lessee to remain in peaceable possession of the leased equipment over the remaining lease term subject to the lessor's rights under R.S. 9:3319(D).
D. If the lessee fails to satisfy a final judgment for accelerated rental payments, the lessor may at any time thereafter judicially seize and sell the lessee's possessory rights to the leased property, as provided under the Louisiana Code of Civil Procedure, in order to satisfy such a final judgment.
E. Prior to obtaining a judgment against the lessee for accelerated future rental payments, the lessor may elect to convert his claim into an action seeking to cancel the lease and to recover possession of the leased property as provided in R.S. 9:3320 through 3324.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3320. Cancellation of lease following lessee's default

RS 9:3320 - Cancellation of lease following lessee's default
A. If the lessor elects to cancel the lease following the lessee's default as provided in R.S. 9:3318(A)(1)(b), the lessor shall forward a written notice to the lessee to that effect, which notice may either be personally delivered to the lessee or mailed to him by registered or certified mail at his address as shown in the lease agreement or at the address mutually agreed upon in writing by the parties, or if there is no such address, then at the lessee's last known address.
B. If the leased property has been subleased or the lease assigned by the lessee and the lessor has been notified in writing of the sublease or assignment, then all notices required under this Section shall also be sent to each known, authorized sublessee or assigned in the same manner as provided for notice to the prime lessee.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3321. Surrender of leased property after notice

RS 9:3321 - Surrender of leased property after notice
Within five days after receipt of the notice of cancellation or within five days after its mailing, whichever is earlier, or if the lease agreement provides for a longer period, then within such longer period, the lessee shall surrender possession of the leased property to the lessor.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3322. Summary proceeding for surrender of property; rule to show cause; judgment

RS 9:3322 - Summary proceeding for surrender of property; rule to show cause; judgment
A. If the lessee fails or refuses to surrender the leased property to the lessor within the delays provided in R.S. 9:3321, the lessor may cause the lessee to be cited summarily by a court of competent jurisdiction to show cause why he should not be ordered to surrender possession of the leased property to the lessor, in accordance with the provisions of this Section.
B.(1) The court shall make the rule returnable within five calendar days after the date of the order, at which hearing the court shall try the rule and hear any defense that is made.
(2) When the object of the rule to show cause to surrender possession is to obtain possession of the leased movable from a lessee or sublessee in default of the lease or a third party in possession of the movable, an affidavit by the lessor or his agent shall be prima facie proof of the lessor's entitlement to the relief sought.
(3) The affidavit shall state factual grounds on which the lessee's default is based and shall be accompanied by legible copies of the lease agreement, evidence of ownership of the leased movable, and documents or exhibits which show the mover's right to possession of the leased movable.
(4) The affidavit and exhibits annexed thereto which contain facts to establish a prima facie case shall be admissible and self-authenticating.
(5) The court may, under the circumstances of the case, require additional evidence in the form of oral testimony or documentary evidence before entering judgment on the rule.
C. A hearing in open court shall not be required unless the judge, in his discretion, directs such a hearing to be held. The mover shall submit to the court the proof required by this Section, a certificate indicating the type of service made on the defendant and the date of service, and the original and not less than one copy of the proposed final judgment. The minute clerk shall make an entry showing the dates of receipt of proof, review of the record, and rendition of the judgment. A certified copy of the signed judgment shall be sent to the mover by the clerk of court.
D. If the court finds the lessor entitled to the relief sought, the court shall render immediately a judgment ordering the lessee to surrender possession of the leased property to the lessor.
E. If the lessee does not comply with the judgment within twenty-four hours after its rendition, the clerk of the court that rendered the judgment shall issue, upon written request, a writ of possession directed to and commanding the sheriff, constable, or marshal of any parish where the movable property may be located to seize and deliver possession of the leased property to the lessor.
Acts 1990, No. 344, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3323. Appeal from judgment on rule

RS 9:3323 - Appeal from judgment on rule
A suspensive appeal shall not be granted unless the lessee has answered the rule under oath, pleading an affirmative defense entitling him to retain possession of the leased movable, and the appeal has been applied for and the appeal bond filed within twenty-four hours after the rendition of the judgment. The amount of the suspensive appeal bond shall be determined by the court in an amount sufficient to protect the appellee against all such damage as he may sustain as a result of the appeal.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3324. Ordinary proceedings in addition to summary proceedings

RS 9:3324 - Ordinary proceedings in addition to summary proceedings
In addition to the summary proceeding provided above, the lessor may at its option, commence an ordinary proceeding against the lessee to cancel the lease, to recover possession of the leased property or to collect such liquidated damages as may be contractually provided under the lease agreement and as further provided under R.S. 9:3325. The pendency of the summary proceeding permitted above shall not preclude the filing of such ordinary proceeding, nor shall the pendency of an ordinary proceeding preclude the filing of the summary proceeding.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3325. Recovery of liquidated damages

RS 9:3325 - Recovery of liquidated damages
A. The lessor may commence an ordinary proceeding against the lessee, as provided in R.S. 9:3324, to recover amounts then due and owing under the lease as well as such liquidated damages as may be provided under the lease agreement. Any refundable security deposit held by the lessor may be retained and shall be credited against the lessee's liability for liquidated damages and other amounts owed the lessor.
B. The court shall award liquidated damages to the lessor only if it finds the amount thereof to be reasonable. If the court finds the amount of liquidated damages to be unreasonable, or if there is no such stipulation, then the court may, in its discretion, award liquidated damages to the lessor.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3326. Sequestration in ordinary proceedings

RS 9:3326 - Sequestration in ordinary proceedings
In an ordinary proceeding, the lessor may also have the leased movable sequestered as provided by the Louisiana Code of Civil Procedure and by furnishing security in an amount determined by the court to be sufficient to protect the lessee against all damage he may sustain.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3327. Release to lessee of sequestered property

RS 9:3327 - Release to lessee of sequestered property
The court shall permit the release to the lessee of the sequestered leased property on the lessee's furnishing security in an amount deemed by the court sufficient to protect the rights of the lessor.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3328. Release of sequestered property to lessor

RS 9:3328 - Release of sequestered property to lessor
If the lessee does not obtain the release of the sequestered leased property within ten days of its seizure, the court may permit its release to the lessor, without his furnishing additional security unless application for such additional security is made by the lessee and the court finds such additional security to be necessary.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3329. Prohibition against self-help repossession

RS 9:3329 - Prohibition against self-help repossession
A. Except as provided in R.S. 9:3330, a lessor is prohibited from attempting to recover possession of the leased property following the lessee's default under any form of self-help repossession.
B. It shall be unlawful for lessors of movable property to enter into, or to cause others to enter into, the premises of any person to whom such property has been leased under the assumption that the lessee has, by agreement, given the right of entry and removal.
C. Any person guilty of entering and removing any property in violation of this Section shall be fined not more than two hundred dollars or imprisoned for not more than three months, or both. Nothing in this Section shall deprive the party injured of his civil action in damages.
D. Nothing in this Section shall be construed to prevent a seizing officer from entering and taking possession of leased property pursuant to proper legal process.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3331. Requirement of insurance

RS 9:3331 - Requirement of insurance
A. In any lease transaction made under the authority of this Chapter, including both true leases and financed leases, and whether such leases are entered into for consumer or commercial purposes, the lessor may request or require the lessee to provide credit life insurance and credit health and accident insurance as additional security for such contract or agreement.
B. The cost of such insurance, if required by the lessor in connection with a consumer purpose financed lease, shall be deemed a portion of the interest rate charge imposed under the lease for purpose of computing maximum rates under R.S. 9:3312(A).
C. More than one policy of credit life insurance or policy of health and accident insurance, or both, on any one lessee may be enforced with respect to any one contract or agreement at any time; however, the aggregate coverage of credit life insurance or credit health and accident insurance, or both, on any one lessee with respect to any one contract or agreement cannot exceed the original amount due under such lease.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
{{NOTE: SEE ACTS 1986, NO. 213, §2.}}
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3332. Credit life and credit health and accident insurance

RS 9:3332 - Credit life and credit health and accident insurance
A. On all consumer lease transactions, including both consumer purpose true leases and financed leases, the premium rate for declining balance credit life insurance shall not exceed one dollar per one hundred dollars per annum. The premium rate for joint credit life insurance shall not exceed one dollar and fifty cents per one hundred dollars per annum. The premium rate for level term credit life insurance shall not exceed two dollars per one hundred dollars per annum. The premium rate for joint level term credit life insurance shall not exceed three dollars per one hundred dollars per annum. The amount of credit life insurance issued pursuant to a consumer lease transaction shall not exceed the total sum payable under the lease. Credit life insurance in the amount of the total amount payable not to exceed maximum limits for each individual otherwise provided by law, may be issued on the lives of individuals who are co-obligors with respect to that consumer lease transaction.
B. No policy of health and accident insurance may be issued pursuant to a consumer lease transaction other than seven day, fourteen day, or thirty day retroactive health and accident insurance. The premium rates for retroactive accident and health insurance issued pursuant to a consumer lease transaction shall not exceed the rate set forth in the schedule listed in R.S. 9:3542(C).
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3333. Property insurance

RS 9:3333 - Property insurance
A lessor may request or require a lessee to insure the leased property against loss, damage, destruction, and other contingencies, as well as require the lessee to obtain comprehensive liability insurance with regard to use of the leased property and the lessor's related business activities. The cost of such insurance may also be included at the lessee's option as a separate charge in a lease contract or agreement. Any insurance and the premiums or charges thereon shall bear a reasonable relationship to the amount, term, and condition of the lease contract or agreement, the existing hazards or risks of loss, damage, or destruction, and shall not provide for unusual or exceptional risks or coverages which are not ordinarily included in policies issued to the general public.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3334. Choice of insurer

RS 9:3334 - Choice of insurer
A. When insurance is required in connection with a consumer lease made under this Chapter, the lessor shall furnish the lessee with a statement which clearly and conspicuously states that such insurance is required in connection with the lease, and that the lessee has the option of furnishing the required insurance either through existing policies of insurance coverage or through any insurance company authorized to transact business in Louisiana.
B. The lessee shall have the privilege at the time of execution of the lease agreement of purchasing any required insurance from an agent or broker of his own selection and of selecting an insurance company acceptable to the lessor but, in such cases, the inclusion of the insurance premium in the lease contract or agreement shall be at the option of the lessor.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3335. Limitations on insurance rates; contract requirements

RS 9:3335 - Limitations on insurance rates; contract requirements
A. Any insurance provided, sold, or obtained through a lessor pursuant to this Chapter shall be written at lawful rates and in accordance with the provisions of the Louisiana Insurance Code by a company authorized to do business in this state but, such insurance may be written in accordance with R.S. 22:432 through 444 if those provisions are applicable.
B. The contract or agreement must briefly indicate the kind, coverage, term, and amount of premium for the insurance.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 2008, No. 415, §2, eff. Jan. 1, 2009.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3336. Conditions applying to insurance provided by the lessor

RS 9:3336 - Conditions applying to insurance provided by the lessor
If a lessor under a consumer lease agrees with the lessee to obtain or provide insurance, then such insurance shall be evidenced by an individual policy or certificate of insurance delivered to the lessee, or sent to him at his address as stated by him, within forty-five days after the term of the insurance commences, or the lessor shall promptly notify the lessee of any failure or delay in providing or obtaining the insurance, individual policy, or certificate of insurance.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3337. Cancellation of insurance; refund or credit upon cancellation

RS 9:3337 - Cancellation of insurance; refund or credit upon cancellation
A. When a consumer lease is cancelled or terminated for any reason, any credit life or credit accident and health insurance paid by the lessee and provided, sold, or obtained through the lessor in connection therewith shall be cancelled. This provision shall not apply where the lessee requests that such insurance remain in force beyond the provision of this Section.
B. When insurance paid by the lessee is cancelled or terminated for any reason, the refund for unearned insurance premiums received by the lessor shall, at the lessor's option, be applied towards payment of the premium for insurance to replace the coverage cancelled, adjusted, or terminated, or towards payment of any unpaid amounts then owing or to be owing in the future under the lease agreement. The order of applying these unearned premiums shall be inverse to the order in which rental payments under the lease agreement are payable according to their terms, beginning with rental payments due on the final due dates and not to the next ensuing rental payment or payments which shall remain payable as originally scheduled. The remaining balance of unearned insurance premiums shall be refunded to the lessee; however, no cash refund shall be required if the amount thereof is less than one dollar.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3338. Gain from insurance

RS 9:3338 - Gain from insurance
Any gain, or advantage to the lessor, or any employee, officer, director, agent, general agent, affiliate or associate from such an insurance or its provisions or sale shall not be considered as a further charge nor a further interest rate or markup charge in violation of R.S. 9:3312(A) in connection with any consumer purpose financed lease made under this Chapter.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3339. Referrals

RS 9:3339 - Referrals
With respect to a consumer lease transaction, the lessor may not give or offer to give a rebate or discount or otherwise pay or offer to pay value to the lessee as an inducement for lease in consideration of his giving to the lessor the names of prospective purchasers or lessees, or otherwise aiding the lessor in making a sale or lease to another person, if the earning of the rebate, discount, or other value is contingent upon the person referred actually purchasing or leasing property from the lessor.
Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3340. Unauthorized collection practices

RS 9:3340 - Unauthorized collection practices
The unauthorized collection practices provisions of R.S. 9:3562 shall apply to consumer lease transactions subject to this Chapter.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3341. Violations

RS 9:3341 - Violations
A. Unintentional violations of this Chapter by lessors shall be corrected within thirty days following receipt of written notice from the lessee or the attorney general advising of the violation. Each written notice shall specify violations of this Chapter alleged and shall be mailed, certified mail, postage prepaid, to the lessor's designated agent for service of process in this state. Any corrective action by the lessor shall include, but shall not be limited to appropriate revisions to the lease agreement and refunds of any charges in excess of those permitted under this Chapter. For purposes of this Section, unintentional violations shall include good faith errors of fact as well as of law.
B. Intentional violations of this Chapter by lessors shall constitute an unfair or deceptive trade practice subject to R.S. 51:1401 through 1418. Failure to correct an unintentional violation under R.S. 9:3341(A) within thirty days following receipt of the appropriate written notice, shall constitute an intentional violation under this Subsection.
Acts 1985, No. 592, §1, eff. July 13, 1985.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3352. Definitions

RS 9:3352 - Definitions
As used in this Chapter:
(1) "Advertisement" means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental-purchase agreement.
(2) "Cash price" means the price at which the lessor would have sold the property to the consumer for cash on the date of the rental-purchase agreement.
(3) "Consumer" means a natural person who rents personal property under a rental-purchase agreement to be used primarily for personal, family, or household purposes.
(4) "Consummation" means the time when a consumer becomes contractually obligated on a rental-purchase agreement.
(5) "Lessor" means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement.
(6) "Rental-purchase agreement" means an agreement for the use of personal property by a natural person primarily for personal, family, or household purposes for an initial period of four months or less, that is automatically renewable with each payment after the initial period, but that does not obligate or require the consumer to continue renting or using the property beyond the initial period, and that permits the consumer to become the owner of the property.
Acts 1991, No. 204, §1, eff. Jan. 1, 1992.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3353. Inapplicability of other laws; exempted transactions

RS 9:3353 - Inapplicability of other laws; exempted transactions
A. Rental-purchase agreements which comply with this Chapter shall not be governed by the laws relating to the following:
(1) A consumer credit sale as defined in R.S. 9:3516(12) of the Louisiana Consumer Credit Law.
(2) A consumer credit transaction as defined in R.S. 9:3516(13) of the Louisiana Consumer Credit Law.
(3) A consumer loan as defined in R.S. 9:3516(14) of the Louisiana Consumer Credit Law.
(4) A consumer lease as defined in R.S. 9:3306(9) of the Louisiana Lease of Movables Act.
(5) A financed lease as defined in R.S. 9:3306(12) of the Louisiana Lease of Movables Act.
(6) A true lease as defined in R.S. 9:3306(26) of the Louisiana Lease of Movables Act.
(7) A conditional sale as defined in R.S. 9:3306(7) of the Louisiana Lease of Movables Act.
(8) A lease intended for security as defined in R.S. 10:1-201(35) of the Louisiana Commercial Laws.
B. This Chapter shall not apply to the following:
(1) Rental-purchase agreements primarily for business, commercial, or agricultural purposes, or those made with governmental agencies or instrumentalities, or with organizations.
(2) A lease of a safe deposit box.
(3) A lease or bailment of personal property which is incidental to the lease of real property, and which provides that the consumer has no option to purchase the rented property.
(4) A lease of an automobile, van, or truck of less than one ton.
Acts 1991, No. 204, §1, eff. Jan. 1, 1992; Acts 2006, No. 533, §2.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3354. General requirements of disclosure

RS 9:3354 - General requirements of disclosure
A. The lessor shall disclose to the consumer the information required by this Chapter. In a transaction involving more than one lessor, only one lessor shall make the disclosures, but all lessors shall be bound by such disclosures.
B. The disclosures shall be made at or before consummation of the rental-purchase agreement.
C. The disclosures shall be made clearly and conspicuously in writing, and a copy of the rental-purchase agreement shall be provided to the consumer. The disclosures required under R.S. 9:3355 shall be made on the face of the contract above the line for the signature of the consumer.
D. If a disclosure becomes inaccurate as the result of any act, occurrence, or agreement by the consumer after delivery of the required disclosures, the resulting inaccuracy shall not be a violation of this Chapter.
Acts 1991, No. 204, §1, eff. Jan. 1, 1992.
2023 Louisiana Laws › Revised Statutes › Title 9 - Civil Code-Ancillaries › §9:3355. Disclosures

RS 9:3355 - Disclosures
For each rental-purchase agreement, the lessor shall disclose in the agreement the following items, as applicable:
(1) The total number, total amount, and timing of all payments necessary to acquire ownership of the property.
(2) A statement that the consumer will not own the property until the consumer has made the total amount of payments necessary to acquire ownership.
(3) A statement that the consumer is responsible for the fair market value of the property if and as of the time that it is lost, stolen, damaged, or destroyed.
(4) A brief description of the rented property, sufficient to identify the property to the consumer and the lessor, including an identification number, if applicable, and a statement indicating whether the property is new or previously rented. However, a statement that indicates new property is previously rented shall not be a violation of this Chapter.
(5) A statement of the cash price of the property. When the agreement involves two or more items as a set, in one agreement, a statement of the aggregate cash price of all items shall satisfy this requirement.
(6) The total of initial payments paid or required at or before consummation of the agreement or delivery of the property, whichever is later.
(7) A statement that the total of payments does not include other charges, such as late payment, default, pickup, and reinstatement fees, which charges shall be separately disclosed in the contract.
(8) A statement clearly summarizing the terms of the option of the consumer to purchase, including a statement that the consumer has the right to exercise an early purchase option, and the price, formula, or method for determining the price at which the property may be so purchased.
(9) A statement identifying the party responsible for maintaining or servicing the property while it is being rented, together with a description of that responsibility, and a statement that if any part of an express warranty of a manufacturer covers the rented property at the time that the consumer acquires ownership of the property, it shall be transferred to the consumer, if allowed by the terms of the warranty.
(10) The date of the transaction and the identities of the lessor and consumer.
(11) A statement that the consumer may terminate the agreement without penalty by voluntarily surrendering or returning the property in good repair upon expiration of any rental term along with any past due rental payments.
(12) Notice of the right to reinstate an agreement as provided in R.S. 9:3357.
Acts 1991, No. 204, §1, eff. Jan. 1, 1992.