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DE SB74
Bill
Status
5/22/2025
Primary Sponsor
Spiros Mantzavinos
Click for details
AI Summary
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Adds a new definition of "lease-purchase property" as personal property owned by the lessor at the time it is displayed and offered for lease-purchase to consumers
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Allows lessors to satisfy price disclosure requirements through electronic disclosure for lease-purchase property offered online or through e-commerce, rather than requiring physical tags on items
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Requires lessors offering third-party inventory (property not owned by the lessor) for lease-purchase to provide cash price and total payment disclosures electronically before other required disclosures
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Electronic disclosures must be clearly and conspicuously indicated in readable Arabic numerals and provided before the standard lease-purchase agreement disclosures required under § 7603
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Makes technical corrections to existing statutory language to conform with Delaware Legislative Drafting Manual standards
Legislative Description
An Act To Amend Chapter 76, Title 6 Of The Delaware Code Relating To The Delaware Lease-purchase Agreement Act.
Last Action
Signed by Governor
5/22/2025