New Mexico 2025 Regular Session

New Mexico Senate Bill SB179 Compare Versions

Only one version of the bill is available at this time.

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28	28	SENATE BILL 179
29	29	57
30	30	TH LEGISLATURE
31	31	-
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33	33	STATE
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35	35	OF
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37	37	NEW
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39	39	MEXICO
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42	42	FIRST SESSION
43	43	,
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45	45	2025
46	46	INTRODUCED BY
47	47	Linda M. Trujillo
48	48	AN ACT
49	49	RELATING TO THE RENTAL PURCHASE AGREEMENT ACT; PROVIDING FOR
50	50	ELECTRONIC DISCLOSURE OF REQUIRED INFORMATION FOR PROPERTY
51	51	DISPLAYED OR OFFERED ONLINE.
52	52	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
53	53	SECTION 1. Section 57-26-10 NMSA 1978 (being Laws 1995,
54	54	Chapter 38, Section 10) is amended to read:
55	55	"57-26-10. ADVERTISING.--
56	56	A. An advertisement that refers to or states the
57	57	dollar amount of a periodic payment and the right to acquire
58	58	ownership of a specific item shall also clearly and
59	59	conspicuously state:
60	60	(1) that the transaction advertised is a
61	61	rental-purchase agreement;
62	62	(2) the total number and total amount of
63	63	.229227.2 underscored material = new
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90	90	periodic payments necessary to acquire ownership of the item;
91	91	and
92	92	(3) that the consumer acquires no ownership
93	93	rights in the item unless the total amount necessary to acquire
94	94	is paid.
95	95	B. [Any] The owner or personnel of any medium in
96	96	which an advertisement appears or through which it is
97	97	disseminated shall not be liable for failure to comply with the
98	98	provisions of this section.
99	99	C. The provisions of Subsection A of this section
100	100	shall not apply to an advertisement that does not refer to or
101	101	state the amount of any payment or that is published in the
102	102	yellow pages of a telephone directory or in any similar
103	103	directory of business.
104	104	D. Every item displayed or offered under a rental-
105	105	purchase agreement shall bear a tag or card that clearly and
106	106	conspicuously indicates in Arabic numerals each of the
107	107	following:
108	108	(1) the cash price of the item;
109	109	(2) the amount of the periodic payment; and
110	110	(3) the total number and total amount of
111	111	periodic payments necessary to acquire ownership.
112	112	E. For property for which a consumer can enter into
113	113	a rental-purchase agreement through electronic commerce, the
114	114	requirements of Subsection D of this section may be met by
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143	143	electronic disclosure that clearly and conspicuously indicates
144	144	the information pursuant to Paragraphs (1) through (3) of that
145	145	subsection; provided that the information is disclosed to the
146	146	lessee prior to the disclosures pursuant to Section 57-26-5
147	147	NMSA 1978.
148	148	[E.] F. An advertisement in any language other than
149	149	English shall contain disclosures as required by this section
150	150	in the non-English language."
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152	152	.229227.2