W. Va. Code R. § 142-22-4

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 142-22-4 - Disclosures

4.1. General -- All disclosures required under the West Virginia Consumer Goods Rental Protection Act shall be clearly communicated and conspicuously placed so as to be reasonably understandable and, if in writing, legible.

4.2. Rent-to-Own Agreements.

4.2.1. Every rent to own agreement must disclose the "retail value", the "rent-to-own charge", the "rental period", the "number of payments", the "Periodic" or "Weekly" or "Monthly" payment amount, the "total of all payments", and whether the goods are "new", "used" or "previously rented".

4.2.2. The disclosures set out in the section 4.2.1 must be made on every rent-to-own agreement before it is signed by the consumer. The disclosures may be made within sentences or phrases as long as the phrases or sentences are grouped together without intervening phrases or sentences. The disclosures must be on the same page and the same side of the page that the consumer signs. The terms labeling the disclosures must be explained. The disclosures must be grouped together. The terms labeling the disclosures must immediately precede or follow the disclosures being made. If the disclosures are not made within the sentences or phrases explaining the terms labeling the disclosures, the explanations may be made elsewhere though they must be grouped together without intervening information on the same side of the page signed by the consumer.

4.2.3. A separate disclosure shall be required for each good or item which is the subject of a rent to own agreement. When multiple goods or items are the subject of one rent-to-own agreement the disclosure made in the body of this agreement may be an aggregate of the values for all goods covered, PROVIDED that the individual price tag disclosure and each individual item (or a copy) be attached to and become a part of the rent-to-own agreement.

4.2.4. The disclosure and the terms labeling in the disclosures must be in type that is bolder and larger than the surrounding type and 90% of the remainder of the printing in the contract. If the disclosures are handwritten, they must be printed and must be larger and no less dark than the terms labeling the disclosures.

4.2.5. The disclosures must be labeled with the exact terms used in subsection 4.2.1 except:

a. The term "Periodic" does not have to be used to label the disclosure of the periodic payment if the terms "WEEKLY", "BI-WEEKLY", "SEMI-MONTHLY", or "MONTHLY" are used instead of "Periodic".

b. The rental period disclosure does not have to be separately labeled if "WEEKLY", "BI-WEEKLY", "SEMI-MONTHLY", or "MONTHLY" are used to label the disclosure of the payment amount.

4.3. Display Label.

4.3.1. Every item displayed to a potential rent-to- own customer by a dealer must have a label attached to it or posted on top of the item which must disclose the "retail value", the "rent-to-own charge", the "rental period", the "number of payments", the "Periodic" or "Weekly" or "Monthly" payment amount, the "total of all payments", and whether the goods are "new", "used" or "previously rented". No disclosure or label of any disclosure may be less than 3/4 the size of any of the other disclosures. The disclosures must be grouped together. The terms labeling the disclosures must immediately precede or follow the disclosures being made.

4.3.2. The disclosures must be labeled with the exact terms used in subsection 4.2 except:

a. The term "Periodic" does not have to be used if the terms "WEEKLY", "BI-WEEKLY", "SEMI-MONTHLY", or "MONTHLY" are used instead of "Periodic" in disclosing the periodic payment amount.

b. The rental period disclosure does not have to be separately labeled if the terms "WEEKLY", "BI-WEEKLY", "SEMI-MONTHLY", or "MONTHLY" are used to label the disclosure of the payment amount.

4.4. Printed advertisements.

4.4.1. Any printed advertisement which communicates a periodic payment amount must also disclose the "retail value", the "rent-to-own charge", the "rental period", the "number of payments", the "total of all payments", and whether the goods are "new", "used" or "previously rented". No disclosure can have type smaller than the capital letters in six point type. No disclosure can be less than one sixth the size of any of the other disclosures. The disclosures must be grouped together. The terms labelling the disclosures must immediately precede or follow the disclosure being made.

4.4.2. The disclosures must be labeled with the exact terms used in subsection 4.4.1 except:

a. The term "Periodic" does not have to be used if the terms "WEEKLY", "BI-WEEKLY", "SEMI-MONTHLY", or "MONTHLY" are used instead of "Periodic" in disclosing the periodic payment amount.

b. The rental period disclosure does not have to be separately labeled if the terms "WEEKLY", "BI-WEEKLY", "SEMI- MONTHLY", or "MONTHLY" are used to label the disclosure of the payment amount.

4.5. Radio and Television -- Radio and television advertisements which communicate a periodic payment amount shall also disclose all of the other disclosures required to be on the price tag except the rent-to-own charge. Each disclosure must be labeled or described using the terms for the disclosures which must be on the price tag. Television advertisements may contain only printed disclosures if conspicuously displayed for a reasonable period of time which would allow a person of average reading ability to read and comprehend the disclosures.

4.6. Telephone communications --

4.6.1. A dealer shall make all disclosures required by W. Va. Code '46B-3-7(b) in any "telephone communication with a potential customer."

4.6.2. For purposes of this rule, a "telephone communication with a potential customer" means a telephone conversation:

a. Initiated by the dealer for the purpose of soliciting the consumer to enter into a rent-to-own transaction with the dealer during which a periodic payment amount is communicated;

b. Initiated by the consumer for the purpose of inquiring about a rent-to-own transaction during which a periodic payment amount is communicated. A dealer's obligation to make the disclosures required under this subsection is considered satisfied, if, after the dealer offers to provide or attempts to provide the disclosures, the consumer affirmatively states that he or she does not wish to hear the disclosures; provided, however, that if the consumer subsequently requests the disclosures, the dealer shall provide them.

W. Va. Code R. § 142-22-4