An Act To Amend Chapter 76, Title 6 Of The Delaware Code Relating To The Delaware Lease-purchase Agreement Act.
Summary
SB 74 amends Delaware’s Lease-Purchase Agreement Act to add and define “lease-purchase property” as personal property owned by the lessor when it is displayed and offered to consumers. The bill updates advertising and disclosure rules for lease-purchase transactions, including requirements that ads not imply specific prices or terms unless those terms are usually available, and that ads mentioning payments or ownership rights clearly disclose that the transaction is a lease-purchase agreement, the total amount needed to acquire ownership, and that ownership does not transfer until that amount is paid in full or prepaid as allowed by law.
The bill also requires clear item-level disclosures of cash price, lease payment amounts, and total payments needed to obtain ownership. For online or e-commerce offers, these disclosures may be made electronically if they are clear and conspicuous and provided before the consumer receives the disclosures required elsewhere in the statute. The act further addresses situations where a lessor offers personal property that is not already lease-purchase property, requiring similar electronic disclosure of pricing information before the statutory consumer disclosures are given. It also includes technical conforming changes to align the code with drafting standards.
Impact
SB 74 changes Title 6, Chapter 76 of the Delaware Code by expanding and clarifying the regulatory framework for lease-purchase businesses, especially those advertising or selling through online or remote channels. It imposes additional disclosure obligations on lessors and standardizes how cash price and total payment information must be presented, while preserving existing consumer-protection requirements under the Delaware Lease-Purchase Agreement Act. The bill primarily affects lease-purchase retailers, advertisers, and consumers entering rent-to-own transactions.
Sentiment
The bill appears to have broad bipartisan support and little visible opposition. It passed the Senate 19-0 and the House 32-0, indicating unanimous support in both chambers. The synopsis frames the measure as a consumer-disclosure and technical-correction bill rather than a major policy overhaul, which is consistent with the strong vote totals.
Contention
No committee debate or recorded objections are provided, and the roll calls show no dissenting votes. The only likely area of policy sensitivity is the added compliance burden on lease-purchase businesses, particularly for online and third-party inventory disclosures, but the available record does not show any organized opposition or substantive controversy. The bill’s focus on clearer pricing and ownership disclosures suggests the main policy goal was consumer transparency rather than dispute over the underlying rent-to-own model.
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