An advertisement for a rental-purchase agreement that states the amount of a payment or the right to acquire ownership of any one particular item under the agreement must clearly and conspicuously state:

Terms Used In Alabama Code 8-25-5

  • advertisement: A commercial message in any medium that directly or indirectly promotes or assists a rental-purchase agreement, except for instore merchandising aids. See Alabama Code 8-25-1
  • RENTAL-PURCHASE AGREEMENT: An agreement for the use of merchandise by a consumer for personal, family, or household purposes, for an initial period of four months or less that is automatically renewable with each payment after the initial period, and that permits the consumer to become the owner of the merchandise. See Alabama Code 8-25-1
  • state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1

(1) That the transaction advertised is a rental-purchase agreement and

(2) The total amount and the number of payments necessary to acquire ownership.

(Acts 1986, No. 86-497, p. 945, §5.)