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Current as of January 01, 2025 | Updated by Findlaw Staff
1. An advertisement for a rental-purchase agreement that refers to or states the dollar amount of any payment for a specific item must state clearly and conspicuously:
A. That the transaction advertised is a rental-purchase agreement;
B. The rental-purchase cost; and
C. That the consumer does not acquire ownership rights until the total of payments to acquire ownership is paid.
2. For any item of property displayed or offered for rental-purchase, the merchant shall display a point-of-rental placard. The point-of-rental placard must disclose the rental payment amount and, in numerals and lettering at least as prominent as the rental payment amount, the following:
A. The number of rental payments necessary to acquire ownership of the item and the rental period;
B. The rental-purchase cost of the item; and
C. Whether the item is new or used.
Labeling a new item as used is not a violation of this Article.
3. An owner or the personnel of a medium in which an advertisement appears or through which an advertisement is disseminated is not liable under this section.
4. A merchant may make the disclosures required by subsection 2 in the form of a list or catalog that is readily available to the consumer if the property is not displayed in the merchant's showroom or if displaying a point-of-rental placard would be impractical due to the size of the property.
This section does not apply to an advertisement that does not refer to or state the amount of any payment.
Cite this article: FindLaw.com - Maine Revised Statutes Title 9-A. Maine Consumer Credit Code § 11-118. Advertising and point-of-sale disclosure - last updated January 01, 2025 | https://codes.findlaw.com/me/title-9-a-maine-consumer-credit-code/me-rev-st-tit-9-a-sect-11-118/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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