Uniform Commercial Code (UCC): Primary focus on Article 2A which governs leases of goods, providing framework for lease contracts, warranties, and remedies. Defines fundamental rights and obligations of lessors and lessees.
State-Specific Lease Laws: Individual state requirements for leases, including state registration requirements and state-specific consumer protection provisions that may vary by jurisdiction.
Consumer Leasing Act: Federal law governing consumer leases, including disclosure requirements, advertising regulations, and consumer protection provisions.
Federal Tax Laws: IRS regulations regarding lease classification, tax implications for both lessor and lessee, and depreciation considerations.
Property Laws: Regulations governing personal property, secured transactions, and laws regarding liens and encumbrances on leased equipment.
Insurance Requirements: State-specific insurance regulations, including liability coverage requirements and property damage coverage provisions for leased equipment.
Uniform Electronic Transactions Act: Regulations governing electronic execution of lease agreements, including electronic signature requirements and validity.
Americans with Disabilities Act: Federal requirements regarding accessibility of leased equipment and necessary accommodations when applicable.
Environmental Regulations: Environmental compliance requirements, disposal regulations, and safety standards applicable to leased equipment.
Bankruptcy Code: Federal regulations governing the treatment of leases in bankruptcy situations and rights of parties in default scenarios.
