§ 6-44-8 Advertisements. – (a) If an advertisement for a rental purchase agreement states the amount ofany payment or states that any or no initial payment is required, theadvertisement shall also clearly and conspicuously state the following items,as applicable:
(1) That the transaction advertised is a lease;
(2) The total of initial payments required at or beforeexecution of the lease or delivery of the property, whichever is later;
(3) That a security deposit is required, if applicable;
(4) The number, amounts, and timing of scheduled payments; and
(5) For a lease in which the liability of the lessee at theend of the lease term is based on the anticipated residual value of theproperty, that an extra charge may be imposed at the end of the lease term.
(b) If an advertisement for a consumer lease refers to orstates the amount of any payment and that the lessee has the right to acquireownership of any particular item, the advertisement shall further clearly andconspicuously state the following items, as applicable:
(1) The total of payments necessary to acquire ownership, ifownership is acquired through the accumulation of periodic payments, the priceat which the leased property may be purchased at the end of the lease, and themethod of determining the purchase price at any point in time if acquiredthrough the exercise of the early option to purchase; and
(2) That the consumer lessee acquires no ownership right ifthe total amount necessary to acquire ownership is not paid or the option topurchase is not exercised by payment of the purchase price.
(c) Any owner or the agents or employees of any owner of anymedium in which an advertisement appears or through which it is disseminatedshall not be liable under this section.
§ 6-44-8 Advertisements. – (a) If an advertisement for a rental purchase agreement states the amount ofany payment or states that any or no initial payment is required, theadvertisement shall also clearly and conspicuously state the following items,as applicable:
(1) That the transaction advertised is a lease;
(2) The total of initial payments required at or beforeexecution of the lease or delivery of the property, whichever is later;
(3) That a security deposit is required, if applicable;
(4) The number, amounts, and timing of scheduled payments; and
(5) For a lease in which the liability of the lessee at theend of the lease term is based on the anticipated residual value of theproperty, that an extra charge may be imposed at the end of the lease term.
(b) If an advertisement for a consumer lease refers to orstates the amount of any payment and that the lessee has the right to acquireownership of any particular item, the advertisement shall further clearly andconspicuously state the following items, as applicable:
(1) The total of payments necessary to acquire ownership, ifownership is acquired through the accumulation of periodic payments, the priceat which the leased property may be purchased at the end of the lease, and themethod of determining the purchase price at any point in time if acquiredthrough the exercise of the early option to purchase; and
(2) That the consumer lessee acquires no ownership right ifthe total amount necessary to acquire ownership is not paid or the option topurchase is not exercised by payment of the purchase price.
(c) Any owner or the agents or employees of any owner of anymedium in which an advertisement appears or through which it is disseminatedshall not be liable under this section.
§ 6-44-8 Advertisements. – (a) If an advertisement for a rental purchase agreement states the amount ofany payment or states that any or no initial payment is required, theadvertisement shall also clearly and conspicuously state the following items,as applicable:
(1) That the transaction advertised is a lease;
(2) The total of initial payments required at or beforeexecution of the lease or delivery of the property, whichever is later;
(3) That a security deposit is required, if applicable;
(4) The number, amounts, and timing of scheduled payments; and
(5) For a lease in which the liability of the lessee at theend of the lease term is based on the anticipated residual value of theproperty, that an extra charge may be imposed at the end of the lease term.
(b) If an advertisement for a consumer lease refers to orstates the amount of any payment and that the lessee has the right to acquireownership of any particular item, the advertisement shall further clearly andconspicuously state the following items, as applicable:
(1) The total of payments necessary to acquire ownership, ifownership is acquired through the accumulation of periodic payments, the priceat which the leased property may be purchased at the end of the lease, and themethod of determining the purchase price at any point in time if acquiredthrough the exercise of the early option to purchase; and
(2) That the consumer lessee acquires no ownership right ifthe total amount necessary to acquire ownership is not paid or the option topurchase is not exercised by payment of the purchase price.
(c) Any owner or the agents or employees of any owner of anymedium in which an advertisement appears or through which it is disseminatedshall not be liable under this section.
