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La. R.S. 38:2319.7

Purchase option

Known as the Local Government Equipment-Lease-Purchase Act

The act spans §§ 38–38 (168 sections).

All equipment-lease-purchase contracts shall provide that the lessee shall have the right to purchase any piece of selected equipment at the termination of payments for such piece of equipment as set forth in the lease-purchase contract for a sum not to exceed one dollar.

Acts 1985, No. 758, §1, eff. July 17, 1985.

{{NOTE: SEE ACTS 1985, NO. 758, §§5 AND 6.}}

Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.