US Laws, Codes, Statutes & Cases

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[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 15USC1667e]

 
                      TITLE 15--COMMERCE AND TRADE
 
                 CHAPTER 41--CONSUMER CREDIT PROTECTION
 
              SUBCHAPTER I--CONSUMER CREDIT COST DISCLOSURE
 
                         Part E--Consumer Leases
 
Sec. 1667e. Applicability of State laws; exemptions by Board 
        from leasing requirements
        
    (a) This part does not annul, alter, or affect, or exempt any person 
subject to the provisions of this part from complying with, the laws of 
any State with respect to consumer leases, except to the extent that 
those laws are inconsistent with any provision of this part, and then 
only to the extent of the inconsistency. The Board is authorized to 
determine whether such inconsistencies exist. The Board may not 
determine that any State law is inconsistent with any provision of this 
part if the Board determines that such law gives greater protection and 
benefit to the consumer.
    (b) The Board shall by regulation exempt from the requirements of 
this part any class of lease transactions within any State if it 
determines that under the law of that State that class of transactions 
is subject to requirements substantially similar to those imposed under 
this part or that such law gives greater protection and benefit to the 
consumer, and that there is adequate provision for enforcement.

(Pub. L. 90-321, title I, Sec. 186, as added Pub. L. 94-240, Sec. 3, 
Mar. 23, 1976, 90 Stat. 260.)