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§ 75-24-161. Provisions not permitted in rental-purchase agreements

MS Code § 75-24-161 (2019) (N/A)
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(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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§ 75-24-159. Items to be disclosed in rental-purchase agreements
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§ 75-24-163. Reinstatement of rental agreements after failure to make timely payment; repossession of property during reinstatement period