Montana Code 30-19-115. Advertisement of rental-purchase agreement

30-19-115. Advertisement of rental-purchase agreement. (1) An advertisement for an agreement that refers to or states the monetary amount of any payment and the right to acquire ownership of property must clearly and conspicuously state:

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Terms Used In Montana Code 30-19-115

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. See Montana Code 30-19-103
agreement: means an agreement between a lessor and a consumer that has the following characteristics:

(a)the agreement governs the use of personal property by a person primarily for personal, family, or household purposes;

(b)the agreement is entered into for an initial period of 4 months or less and is automatically renewable with each payment after the initial period;

(c)the agreement does not obligate or require the consumer to continue renting or using the property beyond the initial period; and

(d)the agreement permits the consumer to become the owner of the property. See Montana Code 30-19-103
Consumer: means a person who rents personal property under a rental-purchase agreement to be used primarily for personal, family, or household purposes. See Montana Code 30-19-103
Property: means real and personal property. See Montana Code 1-1-205
State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201

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

(b)the total payments necessary to acquire ownership of any specific item; and

(c)that the consumer acquires no ownership interest if the total amount necessary to acquire the property is not paid.

(2)An owner or employee of an advertising enterprise preparing or providing advertising to an entity offering rental-purchase agreements is not liable for omissions or errors in advertisements.

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