Section 5-2-501 - Transactions subject to code by agreement of parties

The parties to a transaction other than a consumer credit transaction may agree in a writing signed by the parties that the transaction is subject to the provisions of this code. If the parties so agree, the transaction is a consumer credit transaction for the purposes of this code.L. 2000: Entire article R&RE, p. 1213, § 1, effective July 1.This section is similar to former § 5-3-601, as it existed prior to 2000.