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SB 74

Delaware Senate bill in Session 153.

Status: enacted. Latest action: May 22, 2025.

AN ACT TO AMEND CHAPTER 76, TITLE 6 OF THE DELAWARE CODE RELATING TO THE DELAWARE LEASE-PURCHASE AGREEMENT ACT.

Bill ID DE-153-SB-74
Session 153
Status enacted
Committee Banking, Business, Insurance & Technology
Senate enacted 2025-05-22
Business / Commerce Criminal Justice
Summary

This Act amends Title 6 by adding "lease-purchase property"" to the Delaware Lease-Purchase Agreement Act. Pursuant to the Act, ""lease-purchase property"" means personal property that is owned by the lessor at the time it is displayed and offered for lease-purchase to the consumer. The Act provides that, for lease-purchase property offered online and available for online sale or sale by e-commerce, a lessor may satisfy the lessor's disclosure obligations under § 7606(c) by electronic disclosure. Similarly, for personal property, other than lease-purchase property, that is offered for lease-purchase by a lessor, the lessor must disclose electronically the cash price of the item and the amount of the lease payment and the total amount of lease payments necessary to acquire ownership. These disclosures must be made before any of the disclosures required by § 7603 of the Delaware Lease-Purchase Agreement Act. Finally, the Act makes technical corrections to conform existing law to the standards of the Delaware Legislative Drafting Manual."

Sponsor
Mantzavinos
Official Source Back to Bills
Actions Timeline
Date Event Detail
2025-03-13 Introduced Bill introduced
2025-05-22 Status enacted
2025-05-22 Latest Action Signed by Governor
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Minnesota • 2026 Regular • unknown