Arizona Laws 44-6803. General requirements of disclosure
A. A lessor shall disclose to a consumer the information prescribed in section 44-6804. In a transaction involving more than one lessor, only one lessor is required to make the disclosures prescribed in section 44-6804, but all lessors are bound by the disclosures made.
Terms Used In Arizona Laws 44-6803
- Consumer: means an individual who rents personal property under a rental-purchase agreement to be used primarily for personal, family or household purposes. See Arizona Laws 44-6801
- Consummation: means the date on which a consumer becomes contractually obligated under a rental-purchase agreement or on the date the first payment is made, whichever is earlier. See Arizona Laws 44-6801
- Lessor: means a person who, in the ordinary course of business, regularly leases, offers to lease or arranges for the leasing of property under a rental-purchase agreement. See Arizona Laws 44-6801
- Rental-purchase agreement: means an agreement that is for the use of personal property by an individual for personal, family or household purposes, that is 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 property but that does not obligate or require the consumer to continue leasing or using the property beyond the initial period. See Arizona Laws 44-6801
- Writing: includes printing. See Arizona Laws 1-215
B. The disclosures shall be made on or before the consummation of the rental-purchase agreement.
C. The disclosure shall be made clearly and conspicuously in writing, and a completed copy of the rental-purchase agreement shall be provided to the consumer upon signature of the consumer and lessor. The disclosures prescribed in section 44-6804 shall be made on the face of the agreement above the line for the consumer’s signature.
D. If a disclosure becomes inaccurate as a result of any act, occurrence or agreement by the consumer after delivery of the required disclosures, the resulting inaccuracy does not violate this chapter.
E. If any portion of the transaction is conducted in any language other than English, the disclosures prescribed in section 44-6804 shall be made in the language other than English.