Uniform Consumer Leases Law and Legal Definition

Uniform Consumer Leases Act (UCL) was promulgated by the National Conference of Commissioners on Uniform State Laws in 2001. It provides rules governing personal property lease transactions in which the lessee is a consumer. The UCLA bridges the gap between federal law (the Consumer Leases Act, and associated Regulation M of the Federal Reserve Board), which primarily addresses fair disclosure of lease terms, and Article 2A of the Uniform Commercial Code, which provides the basic contract rules for personal property leasing in every state except Louisiana. In short, the UCLA seeks to define a fair balance of interests between lessors and consumer lessees, and in so doing establishes reasoned, substantive law covering leasing agreements. Unlike many uniform laws the UCLA is not a "default" statute. The protections it offers to consumers may not be waived by agreement. The Act does not apply to commercial leases, nor does it apply to short-term rental car or tool rental agreements, or to rent-to-own arrangements.