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SENATE BILL 179
57
TH LEGISLATURE
-
STATE
OF
NEW
MEXICO
-
FIRST SESSION
,
2025
INTRODUCED BY
Linda M. Trujillo
AN ACT
RELATING TO THE RENTAL PURCHASE AGREEMENT ACT; PROVIDING FOR
ELECTRONIC DISCLOSURE OF REQUIRED INFORMATION FOR PROPERTY
DISPLAYED OR OFFERED ONLINE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
SECTION 1. Section 57-26-10 NMSA 1978 (being Laws 1995,
Chapter 38, Section 10) is amended to read:
"57-26-10. ADVERTISING.--
A. An advertisement that refers to or states the
dollar amount of a periodic payment and the right to acquire
ownership of a specific item shall also clearly and
conspicuously state:
(1) that the transaction advertised is a
rental-purchase agreement;
(2) the total number and total amount of
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periodic payments necessary to acquire ownership of the item;
and
(3) that the consumer acquires no ownership
rights in the item unless the total amount necessary to acquire
is paid.
B. [Any] The owner or personnel of any medium in
which an advertisement appears or through which it is
disseminated shall not be liable for failure to comply with the
provisions of this section.
C. The provisions of Subsection A of this section
shall not apply to an advertisement that does not refer to or
state the amount of any payment or that is published in the
yellow pages of a telephone directory or in any similar
directory of business.
D. Every item displayed or offered under a rental-
purchase agreement shall bear a tag or card that clearly and
conspicuously indicates in Arabic numerals each of the
following:
(1) the cash price of the item;
(2) the amount of the periodic payment; and
(3) the total number and total amount of
periodic payments necessary to acquire ownership.
E. For property for which a consumer can enter into
a rental-purchase agreement through electronic commerce, the
requirements of Subsection D of this section may be met by
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electronic disclosure that clearly and conspicuously indicates
the information pursuant to Paragraphs (1) through (3) of that
subsection; provided that the information is disclosed to the
lessee prior to the disclosures pursuant to Section 57-26-5
NMSA 1978.
[E.] F. An advertisement in any language other than
English shall contain disclosures as required by this section
in the non-English language."
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