Current through 11/5/2024 election
Section 5-10-102 - Legislative declaration(1) This article shall be liberally construed and applied to promote its underlying purposes and policies.(2) The underlying purposes and policies of this article are to: (a) Simplify, clarify, and modernize the law governing rental purchase agreements;(b) Provide certain disclosures to consumers who enter into rental purchase agreements and to promote consumer understanding of the terms of rental purchase agreements;(c) To protect consumers against unfair practices by some rental purchase dealers, having due regard for the interest of legitimate and scrupulous rental dealers; and(d) To permit and encourage the development of fair and economically sound rental purchase practices.L. 90: Entire article added, p. 366, § 1, effective 1/1/1991.