Section 11-118 - Advertising and point-of-sale disclosure1. An advertisement for a rental-purchase agreement that refers to or states the dollar amount of any payment for a specific item must state clearly and conspicuously: A. That the transaction advertised is a rental-purchase agreement; [1991, c. 787(NEW).]B. The rental-purchase cost; and [2001, c. 287, §17(AMD).]C. That the consumer does not acquire ownership rights until the total of payments to acquire ownership is paid. [2001, c. 287, §17(AMD).] [2001, c. 287, §17(AMD).]
2. For any item of property displayed or offered for rental-purchase, the merchant shall display a point-of-rental placard. The point-of-rental placard must disclose the rental payment amount and, in numerals and lettering at least as prominent as the rental payment amount, the following:A. The number of rental payments necessary to acquire ownership of the item and the rental period; [2001, c. 287, §17(AMD).]B. The rental-purchase cost of the item; and [2001, c. 287, §17(AMD).]C. Whether the item is new or used. [2001, c. 287, §17(NEW).] Labeling a new item as used is not a violation of this Article.
[2001, c. 287, §17(AMD).]
3. An owner or the personnel of a medium in which an advertisement appears or through which an advertisement is disseminated is not liable under this section. [1991, c. 787(NEW).]
4. A merchant may make the disclosures required by subsection 2 in the form of a list or catalog that is readily available to the consumer if the property is not displayed in the merchant's showroom or if displaying a point-of-rental placard would be impractical due to the size of the property. [2001, c. 287, §17(NEW).]
This section does not apply to an advertisement that does not refer to or state the amount of any payment. [1991, c. 787(NEW).]
1991, c. 787, (NEW) . 2001, c. 287, § 17 (AMD) .