Louisiana Revised Statutes 9:3360 – Advertising
Terms Used In Louisiana Revised Statutes 9:3360
- Advertisement: means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental-purchase agreement. See Louisiana Revised Statutes 9:3352
- Consumer: means a natural person who rents personal property under a rental-purchase agreement to be used primarily for personal, family, or household purposes. See Louisiana Revised Statutes 9:3352
- Rental-purchase agreement: means an agreement for the use of personal property by a natural person primarily for personal, family, or household purposes for an initial period of four months or less, that is automatically renewable with each payment after the initial period, but that does not obligate or require the consumer to continue renting or using the property beyond the initial period, and that permits the consumer to become the owner of the property. See Louisiana Revised Statutes 9:3352
A. If an advertisement for a rental-purchase agreement refers to or states the dollar amount of any payment and the right to acquire ownership for any one specific item, the advertisement shall also clearly and conspicuously state the following items, as applicable:
(1) That the transaction advertised is a rental-purchase agreement.
(2) The total amount of payments necessary to acquire ownership.
(3) That the consumer acquires no ownership rights if the total amount necessary to acquire ownership is not paid.
B. Any owner or personnel of any medium in which an advertisement appears or through which it is disseminated shall not be liable under this Section.
C. The provisions of Subsection A of this Section shall not apply to an advertisement which does not refer to or state the amount of any payment, an advertisement on radio, or an advertisement which is published in the yellow pages of a telephone directory or in any similar directory of business.
Acts 1991, No. 204, §1, eff. Jan. 1, 1992.