15-8-2. Purpose — Rules of construction.
- (1) This chapter shall be liberally construed and applied to promote its underlying purposes and policies.
- (2) The underlying purposes and policies of this chapter are to:
- (a) define, simplify, and clarify the law governing consumer rental purchase agreements;
- (b) provide certain disclosures to consumers who enter into consumer rental purchase agreements, and further consumer understanding of the terms of consumer rental purchase agreements;
- (c) protect consumers against unfair practices;
- (d) permit and encourage the development of fair and economically sound rental purchase practices; and
- (e) make the law on consumer rental purchase agreements, including administrative rules, more uniform among the various consumer credit code jurisdictions.
Enacted by Chapter 251, 1993 General Session