Allows termination of motor vehicle lease in event of death; prohibits imposition of fee for early termination.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill allows a motor vehicle lease to be terminated early if the lessee dies and the vehicle is returned to the dealer or lessor. It prohibits fees from being charged for this early termination. The bill also ensures that the surviving family members of the deceased lessee are not required to purchase, buyout, or continue the lease, and requires proof of death to initiate the termination process. Finally, it mandates that dealerships and lessors inform potential customers about this option in lease agreements.
Bill text
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Document of record
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Sponsors
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2 on record
Primary sponsor
James Beach
Cosponsor
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