§476-30 Territorial application. (a) Except as otherwise provided in this section, this chapter applies to a credit sale entered into in this State. For the purposes of this chapter a credit sale is entered into in this State if:

(1) The contract does not provide for purchases to be made from time to time, and either a signed writing evidencing the obligation or offer of the buyer is received by the seller in this State, or the seller induces the buyer who is a resident of this State to enter into the transaction by face-to-face solicitation in this State; or

(2) The contract does provide for purchases to be made from time to time, and either the buyer's communication or indication of intention to enter into the contract is received by the seller in this State or, if no communication or indication of intention is given by the buyer before the first transaction, the seller's communication notifying the buyer of the privilege of making purchases is mailed in this State.

(b) A credit sale to which this chapter does not apply entered into with a buyer who is a resident of this State at the time of the credit sale is valid and enforceable in this State to the extent that it is valid and enforceable under the laws of another jurisdiction, but:

(1) A seller may not collect through actions or other proceedings in this State a finance charge exceeding the total amount permitted if section 476-28 were applicable; and

(2) A creditor may not enforce rights against the consumer in this State with respect to the provisions of agreements that violate section 476-5, 476-9, or 476-14 to 476-19.

(c) Except as provided in subsection (b), a credit sale entered into in another jurisdiction is valid and enforceable in this State according to its terms either to the extent that it is valid and enforceable under the laws of the other jurisdiction or to the extent that it is valid and enforceable under the laws of this State if the contract provides that it shall be governed by the laws of this State.

(d) For the purposes of this chapter, the residence of a buyer is the address given by the buyer as the buyer's residence in the contract signed by the buyer until the buyer notifies the seller of a different address as the buyer's residence, and is then the different address.

(e) Notwithstanding other provisions of this section:

(1) This chapter does not apply if the buyer is not a resident of this State at the time of a credit sale and the buyer and seller have agreed that the law of the buyer's residence applies; and

(2) This chapter applies if the buyer is a resident of this State at the time of a credit sale and the parties have agreed that the law of the buyer's residence applies.

(f) Each of the following agreements or provisions of an agreement by a buyer who is a resident of this State at the time of a credit sale is invalid with respect to the transaction:

(1) That the law of another jurisdiction apply;

(2) That the buyer consents to be subject to the process of another jurisdiction;

(3) That the buyer appoints an agent to receive service of process;

(4) That fixes venue; and

(5) That the buyer consents to the jurisdiction of a court that does not otherwise have jurisdiction. [L 1984, c 86, pt of §1]