Exempted Transaction

(a)Rental-purchase agreements which comply with this Act are not governed by the laws relating to:

(1)a sale of a home under the Guam Homeowners' Warranties Act;

(2)a consumer credit sale under the Guam Uniform Commercial Credit Code in Title 14 of the Guam Code Annotated; and

(3)a security interest as defined in 13 GCA '1201(37) and governed by Article 9 of 13 GCA. COL120106 CH. 57 RENTAL PURCHASE AGREEMENTS

(b)This Act does not apply to the following:

(1)rental purchase agreements primarily for business, commercial or agricultural purposes;

(2)a lease made to any governmental agencies or instrumentalities or organizations;

(3)a lease of a safe deposit box; money or intangible personal property;

(4)a lease of an automobile, motor home, mobile home or manufactured housing; or

(5)a lease or bailment of personal property which is incidental to the lease of real property, and which does not provide that the consumer has an option to purchase the leased property.