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2020 Alaska Statutes
Title 45. Trade and Commerce
Chapter 35. Lease-Purchases of Personal Property
Sec. 45.35.040. Prohibited provisions.
Universal Citation: AK Stat § 45.35.040 (2020)
A lease-purchase agreement may not contain
(1) a confession of judgment;
(2) a negotiable instrument;
(3) a security interest in, or another claim on, real or personal property that is not the subject of the agreement;
(4) a wage assignment;
(5) an assignment of an Alaska permanent fund dividend;
(6) a waiver by the consumer of claims or defenses relating to the agreement;
(7) a provision authorizing the lessor or a person acting on the lessor's behalf to enter the consumer's premises or to commit a breach of the peace in the repossession of personal property;
(8) an agreement by the consumer to pay attorney fees and costs, except as allowed under court rules.
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