Section 407.663

Title XXVI TRADE AND COMMERCE

Chapter 407

Effective - 28 Aug 1988   

  407.663.  Advertisements, requirements. — An advertisement for a rental-purchase agreement that refers to or states the amount of the payment or the right to acquire ownership of any one particular item under the agreement must clearly and conspicuously state:

  (1)  That the transaction advertised is a rental-purchase agreement;

  (2)  The total amount and number of payments necessary to acquire ownership of the merchandise; and

  (3)  That the consumer does not acquire ownership rights in the merchandise until all payments have been made under the terms of the agreement.

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(L. 1988 H.B. 988)