Section 54-6A-3 - Agreements exempt from other lawsLease-purchase agreements which comply with this chapter are not subject to the laws relating to:
(1) A consumer transaction in chapter 54-3A;(2) A security interest defined in § 57A-1-201; or(3) A lease in chapter 57A-2A.This chapter does not apply to the following:
(1) Lease-purchase agreements primarily for business, commercial, or agricultural purposes, or those made with governmental agencies or instrumentalities or with organizations;(2) A lease of a safe deposit box;(3) A lease or bailment of personal property which is incidental to the lease of real property, and which provides that the consumer has no option to purchase the leased property; or(4) A lease of a motor vehicle.