2020 Ohio Revised Code
Title 13 | Commercial Transactions
Chapter 1351 | Lease-Purchase Agreements
Section 1351.04 | Terms That May Not Be Required.
Effective: June 29, 1988
Latest Legislation: House Bill 421 - 117th General Assembly
A lessor shall not require any of the following from a lessee:
(A) The purchase of insurance from the lessor for property that is the subject of a lease-purchase agreement;
(B) Any payment in addition to the number of lease payments specified in the lease-purchase agreement other than the payment described in division (B) of section 1351.06 of the Revised Code, that is required in order for the lessee to acquire ownership of the leased property;
(C) Lease payments that in the aggregate exceed the maximum permissible amount set forth in section 1351.06 of the Revised Code;
(D) A penalty for early termination of a lease-purchase agreement or for the return of any leased property at any time;
(E) A fee for in-home collection of a lease payment unless the amount of the fee is disclosed and the lessee expressly has agreed to pay the fee.