Section 24-4.5-2-106 - "Consumer lease"(1) "Consumer lease" means a lease of goods:(a) which a lessor regularly engaged in the business of leasing makes to a person, other than an organization, who takes under the lease primarily for a personal, family, or household purpose;(b) in which the amount payable under the lease does not exceed the exempt threshold amount, as adjusted in accordance with the annual adjustment of the exempt threshold amount, specified in Regulation Z (12 CFR 226.3 or 12 CFR 1026.3(b), as applicable); and(c) which is for a term exceeding four (4) months.(2) "Consumer lease" does not include a lease made pursuant to a lender credit card or similar arrangement.Amended by P.L. 73-2016, SEC. 6, eff. 7/1/2016.Amended by P.L. 137-2014, SEC. 7, eff. 3/25/2014.Amended by P.L. 216-2013, SEC. 8, eff. 5/9/2013, retroactive.(Formerly: Acts1971 , P.L. 366, SEC.3.) As amended by P.L. 247-1983, SEC.3; P.L. 122-1994, SEC.9.