1. An advertisement for a rental-purchase agreement that refers to or states the dollar amount of any payment for a specific item must state clearly and conspicuously:
A. That the transaction advertised is a rental-purchase agreement; [PL 1991, c. 787 (NEW).]
B. The rental-purchase cost; and [PL 2001, c. 287, §17 (AMD).]
C. That the consumer does not acquire ownership rights until the total of payments to acquire ownership is paid. [PL 2001, c. 287, §17 (AMD).]

[PL 2001, c. 287, §17 (AMD).]

Terms Used In Maine Revised Statutes Title 9-A Sec. 11-118

  • Advertisement: means a commercial message in any medium that directly or indirectly aids, promotes or assists a rental-purchase agreement, but does not include in-store merchandising aids such as window signs and ceiling banners. See Maine Revised Statutes Title 9-A Sec. 11-105
  • Consumer: means an individual who rents personal property under a rental-purchase agreement used primarily for personal, family or household purposes. See Maine Revised Statutes Title 9-A Sec. 11-105
  • Merchant: means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement. See Maine Revised Statutes Title 9-A Sec. 11-105
  • Rental payment: means a payment to be made by a consumer for the right of possession and use of rental property for a specific rental period, but does not include taxes imposed on such payment. See Maine Revised Statutes Title 9-A Sec. 11-105
  • Rental period: means a week, month or other specific period of time during which the consumer has a right to possess and use the property after making the rental payment and applicable tax payment for such period. See Maine Revised Statutes Title 9-A Sec. 11-105
  • Rental-purchase agreement: means an agreement for the use of personal property by an individual primarily for personal, family or household purposes for an initial period of 4 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 does not obligate or require the consumer to continue renting or using the property beyond the initial period. See Maine Revised Statutes Title 9-A Sec. 11-105
  • Rental-purchase cost: includes rental payments and any initial administrative fees, but does not include taxes, delivery charges, late charges, payment pick-up fees or any optional charges or fees that meet the requirements of section 11?111, subsection 4. See Maine Revised Statutes Title 9-A Sec. 11-105
  • Total of payments to acquire ownership: includes any initial administrative fee, the total of all rental payments and taxes, but does not include delivery charges, late charges, payment pick-up fees or any optional charges or fees that meet the requirements of section 11?111, subsection 4. See Maine Revised Statutes Title 9-A Sec. 11-105
2. For any item of property displayed or offered for rental-purchase, the merchant shall display a point-of-rental placard. The point-of-rental placard must disclose the rental payment amount and, in numerals and lettering at least as prominent as the rental payment amount, the following:
A. The number of rental payments necessary to acquire ownership of the item and the rental period; [PL 2001, c. 287, §17 (AMD).]
B. The rental-purchase cost of the item; and [PL 2001, c. 287, §17 (AMD).]
C. Whether the item is new or used. [PL 2001, c. 287, §17 (NEW).]
Labeling a new item as used is not a violation of this Article.

[PL 2001, c. 287, §17 (AMD).]

3. An owner or the personnel of a medium in which an advertisement appears or through which an advertisement is disseminated is not liable under this section.

[PL 1991, c. 787 (NEW).]

4. A merchant may make the disclosures required by subsection 2 in the form of a list or catalog that is readily available to the consumer if the property is not displayed in the merchant’s showroom or if displaying a point-of-rental placard would be impractical due to the size of the property.

[PL 2001, c. 287, §17 (NEW).]

This section does not apply to an advertisement that does not refer to or state the amount of any payment. [PL 1991, c. 787 (NEW).]
SECTION HISTORY

PL 1991, c. 787 (NEW). PL 2001, c. 287, §17 (AMD).