1. (a) A rental-purchase agreement that complies with this subtitle may not be deemed to be:

   1. (1) A “retail sale”, as defined in § 12-601(s) of this title;
   2. (2) An “installment sale agreement”, as defined in § 12-601(m) of this title; or
   3. (3) A “security interest”, as defined in § 1-201(37) of this article.

2. (b) This subtitle does not apply to:

   1. (1) A rental-purchase agreement made primarily for business, commercial, or agricultural purposes, or made with governmental agencies, instrumentalities, or organizations;
   2. (2) A rental of a safe deposit box;

   3. (3) A lease or bailment of personal property that:

      1. (i) Is incidental to the rental of real property; and
      2. (ii) Provides that the consumer has no option to purchase the rented real property; or
   4. (4) A lease of an automobile.

Added by Acts 1989, c. 620, § 1, eff. Sept. 1, 1989. Amended by Acts 1995, c. 3, § 22, eff. March 7, 1995.