KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Delaware

SB74 • 2025

AN ACT TO AMEND CHAPTER 76, TITLE 6 OF THE DELAWARE CODE RELATING TO THE DELAWARE LEASE-PURCHASE AGREEMENT ACT.

AN ACT TO AMEND CHAPTER 76, TITLE 6 OF THE DELAWARE CODE RELATING TO THE DELAWARE LEASE-PURCHASE AGREEMENT ACT.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Last action
2025-05-22
Official status
Signed by Governor
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

AN ACT TO AMEND CHAPTER 76, TITLE 6 OF THE DELAWARE CODE RELATING TO THE DELAWARE LEASE-PURCHASE AGREEMENT ACT.

AN ACT TO AMEND CHAPTER 76, TITLE 6 OF THE DELAWARE CODE RELATING TO THE DELAWARE LEASE-PURCHASE AGREEMENT ACT.

What This Bill Does

  • AN ACT TO AMEND CHAPTER 76, TITLE 6 OF THE DELAWARE CODE RELATING TO THE DELAWARE LEASE-PURCHASE AGREEMENT ACT.
  • This Act amends Title 6 by adding "lease-purchase property" to the Delaware Lease-Purchase Agreement Act.
  • Pursuant to the Act, "lease-purchase property" means personal property that is owned by the lessor at the time it is displayed and offered for lease-purchase to the consumer.
  • The Act provides that, for lease-purchase property offered online and available for online sale or sale by e-commerce, a lessor may satisfy the lessor's disclosure obligations under § 7606(c) by electronic disclosure.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2025-05-22 Delaware General Assembly

    Signed by Governor

  2. 2025-05-06 Delaware General Assembly

    Passed By House. Votes: 32 YES 9 ABSENT

  3. 2025-04-15 Delaware General Assembly

    Reported Out of Committee (Economic Development/Banking/Insurance & Commerce) in House with 12 On Its Merits

  4. 2025-04-10 Delaware General Assembly

    Assigned to Economic Development/Banking/Insurance & Commerce Committee in House

  5. 2025-04-09 Delaware General Assembly

    Passed By Senate. Votes: 20 YES 1 ABSENT

  6. 2025-03-26 Delaware General Assembly

    Reported Out of Committee (Banking, Business, Insurance & Technology) in Senate with 3 Favorable, 4 On Its Merits

  7. 2025-03-13 Delaware General Assembly

    Introduced and Assigned to Banking, Business, Insurance & Technology Committee in Senate

Official Summary Text

AN ACT TO AMEND CHAPTER 76, TITLE 6 OF THE DELAWARE CODE RELATING TO THE DELAWARE LEASE-PURCHASE AGREEMENT ACT.
This Act amends Title 6 by adding "lease-purchase property" to the Delaware Lease-Purchase Agreement Act.
Pursuant to the Act, "lease-purchase property" means personal property that is owned by the lessor at the time it is displayed and offered for lease-purchase to the consumer. The Act provides that, for lease-purchase property offered online and available for online sale or sale by e-commerce, a lessor may satisfy the lessor's disclosure obligations under § 7606(c) by electronic disclosure. Similarly, for personal property, other than lease-purchase property, that is offered for lease-purchase by a lessor, the lessor must disclose electronically the cash price of the item and the amount of the lease payment and the total amount of lease payments necessary to acquire ownership. These disclosures must be made before any of the disclosures required by § 7603 of the Delaware Lease-Purchase Agreement Act.
Finally, the Act makes technical corrections to conform existing law to the stan