Georgia § 10-1-681 - Definitions.
Full text of Georgia Official Code of Georgia Annotated § 10-1-681 — Definitions., with citation guidance and answers to common questions.
§ 10-1-681. Definitions.
As used in this article, the term: "Lease-purchase agreement" means an agreement for the use of personal property by a lessee primarily for personal, family, or household purposes for an initial period of four months or less that is renewable with each payment after the initial period and that permits the lessee to become the owner of the property. Lease-purchase agreements shall not include any of the following: A lease or agreement which constitutes a credit sale as defined in 12 C.F.R. 226.2(a)(16) and Section 1602(g) of the Truth-in-Lending Act, 15 U.S.C. Section 1601, et seq.; A lease which constitutes a consumer lease as defined in 12 C.F.R. 213.2(a)(6); Any lease for agricultural, business, or commercial purposes; Any lease made to an organization; or A lease or agreement which constitutes a retail installment transaction as defined in paragraph (10) of subsection (a) of Code Section 10-1-2. "Lessee" means a person who leases property pursuant to a lease-purchase agreement. "Lessor" means a person who, in the ordinary course of business, regularly leases, offers to lease, or arranges for the leasing of property under a lease-purchase agreement. "Period" means a day, week, month, or other subdivision of a year. (Code 1981, § 10-1-681 , enacted by Ga. L. 1985, p. 1341, § 1; Ga. L. 2000, p. 136, § 10.)
Frequently Asked Questions About Georgia § 10-1-681
What does Official Code of Georgia Annotated § 10-1-681 cover?
Section 10-1-681 ("Definitions.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 10-1-681?
A common citation format is "Official Code of Georgia Annotated § 10-1-681" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 10-1-681 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.