§ 293. Liability of assignees
(a) Assignees. For purposes of sections 291 and 292 and this chapter, the term “merchant” includes an assignee of a merchant. However, an action under section 291 for a violation of this chapter may be brought against an assignee only if the violation is apparent on the face of the rental-purchase agreement to which it […]
§ 284. Rental purchase disclosures
For each rental-purchase agreement, the merchant shall disclose to the consumer, to the extent applicable under the agreement, the following: (a) the total amount of the first periodic payment and the total amount of advance payments, delivery charges, trade-in allowances, fees, taxes or other charges that may be required at or before the date of […]
§ 285. Point of rental disclosures
Each item of property displayed or offered in connection with a rental-purchase agreement must have stamped or affixed to the property a card, tag or label that clearly and conspicuously discloses only the following: (a) whether the property is new or used; (b) the price of the property in a cash sale; (c) the amount […]
§ 286. Agreement provisions
(a) In general. Each rental-purchase agreement must: (1) provide a brief description of the rented property sufficient to identify the rented property to the consumer and merchant. If a rental is for multiple items of property, a description of each item may be provided in a separate statement incorporated by reference agreement; (2) state that […]
§ 287. Prohibited provisions of rental-purchase agreement
A rental-purchase agreement or any document that the merchant requests the consumer to execute may not contain: (a) a confession of judgment; (b) a negotiable instrument; (c) a security interest or any other claim of a property interest in any goods, except those goods the use of which is provided by the merchant pursuant to […]
§ 256. Other claims not precluded
This chapter shall not preclude a debtor, buyer, insured or lessee from making any claims which would have been available to him if this chapter were not in effect.
§ 257. Opinions and fees
(a) A creditor, seller, insurer or lessor may request an opinion from a primary regulator as to whether a consumer contract complies with this chapter. A reasonable fee may be charged by the primary regulator for processing the request. The Chairman of the Banking Board may render an opinion to any banking institution which has […]
§ 258. Restrictions
(a) This chapter shall not apply to consumer contracts involving amounts of more than $25,000, except for homeowners and tenant insurance policies. (b) Real estate transactions, including title insurance policies, are excluded from this chapter, except that real estate leases for residential purposes are included.
§ 259. Guidelines
(a) To insure that a consumer contract shall be clear, simple, understandable and easily readable, the following are guidelines that a court or primary regulator may consider in determining whether a consumer contract as a whole fails to comply with this chapter: (1) Cross-references that are confusing. (2) Sentences that are of greater length than […]
§ 260. No waiver
No consumer contract shall contain a waiver of any rights under this chapter. A violation of this chapter shall not render any consumer contract void or voidable, or serve as a defense in an action breach thereof unless enforcement of the contract which violates this chapter would be unconscionable.