HOUSE OF REPRESENTATIVES	H.B. NO.	1658
TWENTY-SEVENTH LEGISLATURE, 2014
STATE OF HAWAII

A BILL FOR AN ACT

relating to motor vehicle leases.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  Chapter 481L, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§481L-   Rescission. A retail lessee may rescind a lease agreement for any reason and without penalty by giving written notice and returning the motor vehicle to the retail lessor no later than three business days after signing the lease agreement."

     SECTION 2.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect upon its approval.

INTRODUCED BY:

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Report Title:

Motor Vehicles; Lease; Rescission

Description:

Authorizes a motor vehicle lessee to rescind the lease agreement within three business days of entering into the agreement.

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