(a)(1) A lessor shall disclose to a consumer the information required under this subtitle.
(2) In a transaction involving more than 1 lessor, only 1 lessor need make the disclosures required under this subtitle, but all lessors shall be bound by the disclosures made.
(b) A lessor shall make the disclosures required under this subtitle before consummation of the rental-purchase agreement.
(c) A lessor shall:
(1) Make the disclosures required under this subtitle in a written form that is simple and understandable and is written or typed in a size not less than 10 point type;
(2) Make the disclosures required under this subtitle in English or in any other language used by the lessor in advertisements related to the rental-purchase transaction;
(3) Make the disclosures required under this subtitle on the face of the rental-purchase agreement and summary of costs chart above the consumer's signature lines; and
(4) Deliver a copy of the rental-purchase agreement and the summary of costs chart to the consumer.
(d) If a disclosure becomes inaccurate as a result of any act, occurrence, or agreement by the consumer after delivery of the rental property, the resulting inaccuracy is not a violation of this subtitle.
Credits
Added by Acts 1989, c. 620, § 1, eff. Sept. 1, 1989. Amended by Acts 2013, c. 294, § 1, eff. Oct. 1, 2013; Acts 2013, c. 295, § 1, eff. Oct. 1, 2013.
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
