2022 Pennsylvania Consolidated & Unconsolidated Statutes
Act 82 - JUDICIAL CODE (42 PA.C.S.) - LESSEE'S RIGHT TO ACQUIRE OWNERSHIP AND ADVERTISING AND DISPLAY OF PROPERTY
Session of 2022
No. 2022-82
HB 2709
AN ACT
Amending Title 42 (Judiciary and Judicial Procedure) of the Pennsylvania Consolidated Statutes, in particular rights and immunities, further providing for definitions, for lessee's right to acquire ownership and for advertising and display of property.
The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows:
Section 1. Section 6902 of Title 42 of the Pennsylvania Consolidated Statutes is amended by adding a definition to read:
§ 6902. Definitions.
The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise:
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"Rental-purchase property." Personal property displayed or offered by a lessor to consumers for rental-purchase agreements at a physical location where 50% or more of revenue is derived from rental-purchase agreements.
Section 2. Section 6905 of Title 42 is amended by adding a subsection to read:
§ 6905. Lessee's right to acquire ownership.
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(d) Receipts.--After receiving each rental payment, the lessor shall provide a receipt to the lessee. The receipt shall disclose all of the following:
(1) The rental payment made by the lessee.
(2) The amount of the early purchase option that is applicable after the rental payment made by the lessee.
(3) The dates when the early purchase option price remain valid.
Section 3. Section 6908(b) of Title 42 is amended and the section is amended by adding subsections to read:
§ 6908. Advertising and display of property.
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(b) Information on displays or offers.--All rental-purchase property displayed or offered under a rental-purchase agreement shall have stamped on or affixed to the property and clearly and conspicuously indicated in Arabic numerals that are readable and understandable by visual inspection all of the following:
(1) The amount of the rental payment.
(2) The cash price of the property.
(3) The total number and amount of rental payments necessary to acquire ownership of the property that is the subject of the rental-purchase agreement.
(4) The cost of lease services.
(b.1) Information on online displays or offers.--For a rental-purchase property displayed or offered online for which a consumer can enter into a rental-purchase agreement online or remotely via electronic commerce, a lessor shall disclose the information required under subsection (b) to a consumer by electronic means in accordance with the following:
(1) The lessor shall disclose the information in a manner clearly and conspicuously indicated in Arabic numerals that are readable and understandable by visual inspection.
(2) The lessor shall disclose the information before disclosing the information required under section 6903 (relating to required disclosures in connection with rental-purchase agreement).
(b.2) Information on displays or offers of third-party inventory.--When personal property that is not rental-purchase property is offered for rental purchase by a lessor, the following shall apply:
(1) The lessor shall separately disclose the information required under subsection (b) to a consumer, by electronic means or otherwise, in a manner clearly and conspicuously indicated in Arabic numerals that are readable and understandable by visual inspection, prior to disclosing the information under section 6903.
(2) The lessor shall make the disclosures required under subsection (b) available in multiple languages.
(3) The lessor shall confirm that a prospective lessee has viewed and affirmatively acknowledged the disclosures required under subsection (b) prior to presenting a rental-purchase agreement to the prospective lessee for execution.
(4) The lessor shall provide an electronic copy of the disclosures required under subsection (b) to the lessee.
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Section 4. This act shall take effect in 60 days.
APPROVED--The 11th day of July, A.D. 2022.
TOM WOLF
