The Secretary shall adopt through regulations a model lease contract with purchase option within sixty (60) days following the approval of this act, which shall include the requirements established by this chapter. Said contract shall be used as a model by every person or entity engaged in the leasing of personal property with a purchase option, that is subject to the provisions of this chapter. All the contracts used by persons or entities engaged in the leasing of personal property with a purchase option shall include at least the same provisions included in said model contract.\nHistory —Apr. 13, 2000, No. 67, § 17, eff. 30 days after Apr. 13, 2000.
Puerto Rico Legal Code