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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
Regular Session, 2012
SENATE BILL NO. 139
BY SENATOR LONG
INSURANCE POLICIES. Provides an exception to the definition of consumer lease.
(gov sig)
AN ACT1
To amend and reenact R.S.9:3306(9), relative to leases of movables; to provide with respect2
to definitions; to provide an exception for employer-sponsored lease programs; and3
to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 9:3306(9) is hereby amended and reenacted to read as follows:6
ยง3306. Definitions7
* * *8
(9) "Consumer lease" means a lease to a consumer as defined in R.S.9
9:3306(8), with the exception of a lease provided through an employer-10
sponsored lease program, provided that total compensation under the lease over the11
base lease term does not exceed twenty-five thousand dollars. Where total12
compensation under the lease exceeds twenty-five thousand dollars, the lease shall13
be considered a commercial lease for purposes of this Chapter.14
* * *15
Section 2. This Act shall become effective upon signature by the governor or, if not16
signed by the governor, upon expiration of the time for bills to become law without signature17 SB NO. 139
SLS 12RS-443 ENGROSSED
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.
by the governor, as provided by Article III, Section 18 of the Constitution of Louisiana. If1
vetoed by the governor and subsequently approved by the legislature, this Act shall become2
effective on the day following such approval.3
The original instrument was prepared by J. W. Wiley. The following digest,
which does not constitute a part of the legislative instrument, was prepared
by Cheryl Horne.
DIGEST
Long (SB 139)
Present law defines "consumer lease" as a lease to a natural person primarily for a personal,
family, or household purpose provided that the total compensation under the lease over the
base lease term does not exceed $25,000. Further provides that where the total
compensation exceeds $25,000, the lease shall be considered a commercial lease.
Proposed law creates an exception from present law for a lease provided through an
employer-sponsored lease program.
Effective upon signature of the governor or lapse of time for gubernatorial action.
(Amends R.S. 9:3306(9))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Insurance to the original
bill.
1. Changes the definition of "consumer lease" to exclude a lease provided
through an employer-sponsored lease program.