FL H1501

Requires documents executed contemporaneously with motor vehicle retail installment contracts to be read and construed together with the contract, notwithstanding any integration or merger clause stating the contract is the only agreement.

Applies the same requirement to vehicle lease agreements, mandating that all documents executed at the same time relative to vehicle acquisition be interpreted together with the lease agreement.

Mandates retail lessors disclose in lease agreements a separate blocked section in capital letters and at least 12-point bold type stating "THIS IS A LEASE AGREEMENT" and "THIS IS NOT A PURCHASE AGREEMENT," along with specified cost information.

Allows lease agreements to reference federal Consumer Leasing Act and Federal Reserve Board Regulation M disclosures set forth elsewhere in the agreement rather than duplicating them.

Takes effect July 1, 2012.