- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 35. Lease-Purchases of Personal Property
- Section 40. Prohibited Provisions.
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AS 45.35.040. Prohibited Provisions.
A lease-purchase agreement may not contain
- (1) a confession of judgment;
- (2) a negotiable instrument;
- (3) a security interest in, or another claim on, real or personal property that is not the subject of the agreement;
- (4) a wage assignment;
- (5) an assignment of an Alaska permanent fund dividend;
- (6) a waiver by the consumer of claims or defenses relating to the agreement;
- (7) a provision authorizing the lessor or a person acting on the lessor's behalf to enter the consumer's premises or to
commit a breach of the peace in the repossession of personal property;
- (8) an agreement by the consumer to pay attorney fees and costs, except as allowed under court rules.
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