§ 9:3317 — End of lease charges

A. Both true and financed lease agreements, whether in connection with consumer or commercial purpose leases, may contractually provide for the assessment, imposition, and collection of reasonable end of lease charges, including but not limited to:
(1) End of lease fees in a fixed amount as may be agreed to by the lessee.
(2) Excess mileage or use charges as provided under the lease agreement.
(3) Reasonable excess wear and tear charges as provided under the lease agreement.
(4) The difference between (i) the estimated end of term residual value of the leased equipment and (ii) the actual realized value of the leased equipment following termination of the lease.
(5) Official fees and taxes imposed in connection with termination of the lease.
(6) Current or delinquent rental payments and other charges under the lease which are then due and payable.
(7) Any additional reasonable end of lease charges which may be contractually provided for under the lease agreement.
B. End of lease charges may be assessed in addition to interest rate charges as provided under R.S. 9:3311 and 3312.
C. Any refundable security deposit held by the lessor may be retained and shall be credited against the lessee's liability for end of lease charges.

Legislative History

Acts 1985, No. 592, §1, eff. July 13, 1985; Acts 1986, No. 213, §1.