505 - Advertisement.

§  505.  Advertisement.  * 1.  An  advertisement for a rental-purchase  agreement that refers to or states the amount of a payment or the  right  to  acquire  ownership  of  any  one particular item under the agreement  shall clearly and conspicuously state:    (a) that the transaction advertised is a rental-purchase agreement;    (b) the total number of payments and the total amount to  be  paid  to  acquire  ownership,  which  amount  shall  be  explicitly labeled "total  cost"; and    (c) the circumstances under which the consumer can  acquire  ownership  rights.    * NB Effective until January 26, 2011    * 1.  An  advertisement for a rental-purchase agreement that refers to  or states the amount of a payment or the right to acquire  ownership  of  any   one   particular  item  under  the  agreement  shall  clearly  and  conspicuously state:    (a) that the transaction advertised is a rental-purchase agreement;    (b) the total number of payments and the total amount to  be  paid  to  acquire  ownership,  which  amount  shall  be  explicitly labeled "total  cost";    (c) the circumstances under which the consumer can  acquire  ownership  rights; and    (d) whether the advertised terms are for new or used merchandise.    * NB Effective January 26, 2011    2.   An   advertisement   for   personal  property  available  through  rental-purchase agreements that refers to more  than  one  appliance  or  particular  item  and  includes  information on periodic payment amounts  shall include a representative item available at that amount  and  shall  conspicuously state:    (a) that the merchandise offered may be new or used;    (b) that transaction advertised is a rental-purchase agreement; and    (c)  that  the  consumer  does not acquire ownership rights unless the  consumer complies with the ownership terms of the agreement.    3. Every item displayed or offered under a  rental-purchase  agreement  shall have clearly and conspicuously indicated in arabic numerals, so as  to  be  readable  and  understandable  by visual inspection, each of the  following affixed to the item:    (a) the cash price of the merchandise;    (b) the amount of  the  periodic  payment  and  the  total  number  of  periodic payments required for ownership; and    (c)  the  total  amount  that  must  be  paid  to acquire ownership of  merchandise, which amount shall be explicitly labeled total cost.