Montana Code 30-19-109. Disclosure of information
30-19-109. Disclosure of information. (1) A lessor shall disclose to the consumer the information provided for in 30-19-110.
Terms Used In Montana Code 30-19-109
- agreement: means an agreement between a lessor and a consumer that has the following characteristics:
(a)the agreement governs the use of personal property by a person primarily for personal, family, or household purposes;
(b)the agreement is entered into for an initial period of 4 months or less and is automatically renewable with each payment after the initial period;
(c)the agreement does not obligate or require the consumer to continue renting or using the property beyond the initial period; and
(d)the agreement permits the consumer to become the owner of the property. See Montana Code 30-19-103
- Consumer: means a person who rents personal property under a rental-purchase agreement to be used primarily for personal, family, or household purposes. See Montana Code 30-19-103
- Consummation: means the time that a consumer becomes contractually obligated by signing a rental-purchase agreement. See Montana Code 30-19-103
- Contract: A legal written agreement that becomes binding when signed.
- Lessor: means a person who regularly provides the use of property through rental-purchase agreements and to whom rent payments are initially payable on the face of the rental-purchase agreement. See Montana Code 30-19-103
- Writing: includes printing. See Montana Code 1-1-203
(2)The disclosure must be made at or before consummation of the rental-purchase agreement.
(3)The disclosure must be made clearly and conspicuously in writing, and a copy of the rental-purchase agreement must be provided to the consumer.
(4)The disclosure information required under 30-19-110 must be provided for on the face of the contract above the line provided for the consumer’s signature.
(5)If a disclosure becomes inaccurate as a result of any act, occurrence, or agreement by the consumer after the delivery of the required disclosure, the resulting inaccuracy is not in violation of this part.