30-19-115. Advertisement of rental-purchase agreement.
30-19-115. Advertisement of rental-purchase agreement. (1) An advertisement for an agreement that refers to or states the monetary amount of any payment and the right to acquire ownership of property must clearly and conspicuously state:
(a) that the transaction advertised is a rental-purchase agreement;
(b) the total payments necessary to acquire ownership of any specific item; and
(c) that the consumer acquires no ownership interest if the total amount necessary to acquire the property is not paid.
(2) An owner or employee of an advertising enterprise preparing or providing advertising to an entity offering rental-purchase agreements is not liable for omissions or errors in advertisements.
History: En. Sec. 11, Ch. 263, L. 2001.