A. Except as provided in Subsection B of this Section, this Chapter does not apply to any of the following: (1) Extensions of credit to business entities, including government or governmental agencies or instrumentalities. (2) Extensions of credit primarily for business, commercial, or agricultural purposes. (3) Open-end credit transactions, including without limitation, revolving loan and lender credit card transactions that may involve the secured purchase money financing of a motor vehicle. (4) Consumer credit transactions subject to the Louisiana Consumer Credit Law, R.S. 9:3510 et seq. (5) Credit transactions by federally and state-chartered credit unions to their members. (6) Federally related mortgage loans subject to R.S. 9:3503 et seq. and 12 U.S.C. 1735F(7). B. All persons financing the purchase or acquisition of a motor vehicle, irrespective of whether the transaction otherwise is subject to this Chapter, shall comply with the requirements of R.S. 32:1251 et seq. and the rules and regulations of the Louisiana Motor Vehicle Commission pertaining to advertising.
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