TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 36

IDAHO LEASE-PURCHASE AGREEMENT ACT

PART 1.

POWERS AND FUNCTIONS OF ADMINISTRATORS

28-36-104.  General requirements of disclosure. (1) The lessor shall disclose, or cause to be disclosed, to the consumer the information required in this chapter. In a transaction involving more than one (1) lessor, only one (1) lessor need make the disclosures, but all lessors shall be bound by such disclosures.

(2)  The disclosures shall be made at or before consummation of the lease-purchase agreement.

(3)  The disclosures shall be made clearly and conspicuously in writing and a copy of the lease-purchase agreement provided to the consumer. The disclosures required under section 28-36-105(1), Idaho Code, shall be made on the face of the contract above the line for the consumer’s signature.

(4)  If a disclosure becomes inaccurate as the result of any act, occurrence or agreement by the consumer after delivery of the required disclosures, the resulting inaccuracy is not a violation of the provisions of this chapter.

History:

[28-36-104, added 1993, ch. 232, sec. 1, p. 808.]