2009 Iowa Code
Title 13 - Commerce
Subtitle 3 - Money and Credit
CHAPTER 537 - CONSUMER CREDIT CODE
537.3605 - DISCLOSURES.

        537.3605  DISCLOSURES.
         In a consumer rental purchase agreement, the lessor shall disclose
      the following items, as applicable:
         1.  The total of scheduled payments accompanied by an explanation
      that this term means the "total dollar amount of lease payments you
      will have to make to acquire ownership".
         2.  By item, the total number, amounts, and timing of all lease
      payments and other charges including taxes or official fees paid to
      or through the lessor which are necessary to acquire ownership of the
      property.
         3.  Any initial or advance payment such as a delivery charge,
      security deposit, or trade-in allowance.
         4.  A statement that the lessee will not own the property until
      the lessee has made the total of payments necessary to acquire
      ownership of the property.
         5.  A statement that the total of payments does not include
      additional charges such as late payment charges, and a separate
      listing and explanation of these charges as applicable.
         6.  If applicable, a statement that the lessee is responsible for
      the fair market value of the property if and as of the time it is
      lost, stolen, damaged, or destroyed.
         7.  A description of the goods or merchandise including model
      numbers as applicable and a statement indicating whether the property
      is new or used.  It is not a violation of this subsection to indicate
      that the property is used if it is actually new.
         8.  A statement that at any time after the first periodic payment
      is made, the lessee may acquire ownership of the property by
      exercising the option to purchase the property, and at what price, or
      by what formula or method the purchase price will be determined.  It
      is not a violation of this subsection for the lessor and the lessee
      to agree in writing to allow the lessee to acquire ownership of the
      property for less than the amounts referred to in this subsection.
         9.  The cash price of the merchandise.  

         87 Acts, ch 80, §5; 89 Acts, ch 128, §1
         Referred to in § 537.3606, 537.3608, 537.3610, 537.3612, 537.3616