2013 Mississippi Code
Title 75 - REGULATION OF TRADE, COMMERCE AND INVESTMENTS
Chapter 24 - REGULATION OF BUSINESS FOR CONSUMER PROTECTION
MISSISSIPPI RENTAL-PURCHASE AGREEMENT ACT
§ 75-24-161 - Provisions not permitted in rental-purchase agreements
A rental-purchase agreement may not contain:
(a) A confession of judgment;
(b) A negotiable instrument;
(c) A security interest or any other claim of a property interest in any property except that property delivered by the lessor pursuant to the rental-purchase agreement;
(d) A wage assignment;
(e) A waiver by the consumer of claims or defenses;
(f) A provision authorizing the lessor or a person acting on the lessor's behalf to enter upon the consumer's premises without permission or to commit any breach of the peace in the repossession of property;
(g) A provision for a late charge or any other type of charge or penalty for reinstating a rental-purchase agreement in addition to a reinstatement fee; however, a lessor may use the term "late charge" or a similar term to refer to a reinstatement fee; or
(h) A provision for more than one (1) reinstatement fee on any one (1) periodic payment regardless of the period of time for which it remains unpaid.
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