Oklahoma Rental-Purchase Act

The act regulates rent-to-own transactions, in which a consumer leases household goods or other personal property under a renewable agreement with the option to acquire ownership. It sets out what a rental-purchase agreement is and what it must contain, prohibits certain terms, and gives the lessee a right to reinstate an agreement after a missed payment. It also imposes obligations on lessors, restricts how such transactions may be advertised, and addresses the handling of merchandise repossessed from a lessee.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.