30-19-102. Purpose
30-19-102. Purpose. (1) The legislature finds that the rental-purchase industry is unique in its structure of providing a service to Montana consumers, in that the business transaction involved is not a credit transaction, does not create a debt or a security interest, and is not a simple rental or lease. As a result, rental-purchase agreements deserve […]
30-19-103. Definitions
30-19-103. Definitions. As used in this part, the following definitions apply: (1) ”Advertisement” means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental-purchase agreement but does not include price tags, window signs, or other in-store merchandising aids. (2) ”Cash price” means the price at which the lessor would have sold the […]
30-19-104. Exemptions of applicability
30-19-104. Exemptions of applicability. (1) The provisions of this part are not subject to laws relating to: (a) retail installment sales contracts as defined in 31-1-202; (b) security interests regulated by the provisions of Title 30, chapters 1 through 9A; (c) leases regulated by the provisions of Title 30, chapter 2A; (d) personal solicitation sales defined in 30-14-502; and (e) interest […]
30-19-105. through 30-19-108 reserved
30-19-105 through 30-19-108 reserved.
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. (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 […]
30-19-110. Information required in disclosure
30-19-110. Information required in disclosure. For each rental-purchase agreement, the lessor shall disclose the following items in the agreement: (1) the total number, the amount, and the timing of all rental payments necessary to acquire ownership of the property; (2) a statement that the consumer will not have an ownership interest in the property until the consumer has […]
30-19-111. Provisions prohibited in agreements
30-19-111. Provisions prohibited in agreements. A rental-purchase agreement may not contain: (1) a confession of judgment; (2) a negotiable instrument; (3) a security interest or any other claim of property interest in any property except the property delivered by the lessor pursuant to the rental-purchase agreement; (4) a wage assignment; (5) a waiver of claims or defenses by the consumer; and […]
30-18-111. Retention of electronic records — originals
30-18-111. Retention of electronic records — originals. (1) If a law requires that a record be retained, the requirement is satisfied by retaining an electronic record of the information in the record that: (a) accurately reflects the information set forth in the record after it was first generated in its final form as an electronic record or […]
30-18-112. Admissibility in evidence
30-18-112. Admissibility in evidence. In a proceeding, evidence of a record or signature may not be excluded solely because it is in electronic form. History: En. Sec. 12, Ch. 52, L. 2001.
30-18-113. Automated transaction
30-18-113. Automated transaction. In an automated transaction, the following rules apply: (1) A contract may be formed by the interaction of electronic agents of the parties, even if no individual was aware of or reviewed the electronic agents’ actions or the resulting terms and agreements. (2) A contract may be formed by the interaction of an electronic agent […]