Bill > SB179

This bill amends the Rental Purchase Agreement Act to update rules for advertising and disclosing information about rental-purchase agreements, particularly for items offered online. The legislation allows electronic disclosure of key pricing information for items available through online commerce, provided that the electronic disclosures clearly show the cash price, periodic payment amount, and total number and amount of payments required to acquire ownership. Specifically, the bill adds a new subsection allowing rental-purchase items displayed electronically to meet existing disclosure requirements through clear and conspicuous electronic means, with the condition that this electronic information is provided to the lessee before other required disclosures. The bill also makes a minor technical change by removing the word "Any" when discussing liability for advertising, and ensures that if an advertisement is in a language other than English, the required disclosures must also be in that same non-English language. The goal appears to be modernizing disclosure requirements to accommodate online and electronic rental-purchase transactions while maintaining consumer protection standards.

Budget and Finance, Business and Industry

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=179&year=25