2019 US Virgin Islands Code
Title 12A - Consumer Code
Chapter 5 - Rental-Purchase Agreement Disclosure Act
§ 284. Rental purchase disclosures

(a) the total amount of the first periodic payment and the total amount of advance payments, delivery charges, trade-in allowances, fees, taxes or other charges that may be required at or before the date of consummation of the agreement.

(b) the amount and timing of rental payments;

(c) the total number and the total dollar amount of rental payments and other charges necessary to acquire ownership of the property;

(d) a statement that the consumer will not own the property until the consumer has paid the total dollar amount necessary to acquire ownership;

(e) a disclosure that the total dollar amount payments do not include certain other charges;

(f) a statement that the consumer may be responsible for the fair market value of the property if it is lost, stolen, damaged or destroyed;

(g) a statement indicating whether the property is new or used, except a statement indicating that new property is used property is not a violation of this chapter;

(h) A statement of:

• (1) the manufacturer's suggested retail price, where applicable, or

• (2) the price for which the property is available from the merchant in a cash sale;

(i) a clear statement of the terms of the consumer's option to purchase;

(j) a statement

• (1) identifying the party responsible for maintaining or servicing the property while it is being rented;

• (2) describing the responsibility for maintenance or service of the rental property; and

• (3) disclosing that if any part of a manufacturer's express warranty covers the property at the time the consumer acquires ownership of the property, the warranty will be transferred to the consumer if allowed by the terms of the warranty;

(k) the date of consummation of the transaction and the identities of the merchant and consumer; and

(l) late fees for past due rental charges.