9-A §11-118. Advertising and point-of-sale disclosure
Title 9-A: MAINE CONSUMER CREDIT CODE
Article 11: RENTAL-PURCHASE PRACTICES HEADING: PL 1991, C. 787 (NEW)
§11-118. Advertising and point-of-sale disclosure
1. 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).]
SECTION HISTORY
1991, c. 787, (NEW). 2001, c. 287, §17 (AMD).