In a rental-purchase agreement, the lessor shall disclose the following items, as applicable:
(a) The total of payments necessary to acquire ownership of the property accompanied by an explanation that this term means the "total dollar amount of payments you will have to make to acquire ownership."
(b) The total number, amounts, and timing of all payments and other charges including taxes or official fees paid to or through the lessor that are necessary to acquire ownership of the property.
(c) The difference between the amount disclosed under paragraph (a) and the cash price of the leased property, using the term "cost of lease services" to mean the difference between these amounts.
(d) Any initial or advance payment such as a delivery charge or trade-in allowance.
(e) 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.
(f) 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.
(g) A statement that the lessee is liable for loss or damage to the property and the maximum amount for which the lessee is liable, which in the case of loss shall in no event be greater than the price the lessee would have paid to exercise an early purchase option. In the case of damage to the property other than normal wear and tear, the lessee shall be liable for the lesser of the price the lessee would have paid to exercise an early purchase option or the cost of repair as reasonably determined by the lessor.
(h) A statement that the lessee is not required to purchase a liability damage waiver from the lessor.
(i) 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 subdivision to indicate that the property is used if it is actually new.
(j) A statement that the lessee has the option to purchase the leased property during the terms of the rental-purchase agreement and at what price, formula, or by what method the price is to be determined.
(k) The cash price of the merchandise.
(l) A statement of the following lessee rights: reinstatement rights under section 325F.90, default notice under section 325F.89, and consumer warranties under sections 325G.17 to 325G.20.
The commissioner of commerce may prescribe the disclosure form by rule.
1990 c 527 s 3
Structure Minnesota Statutes
Chapters 324 - 341 — Trade Regulations, Consumer Protection
Chapter 325F — Consumer Protection; Products And Sales
Section 325F.01 — Asbestos Used In Building And Remodeling.
Section 325F.015 — Unsafe Bleachers.
Section 325F.02 — Manufacture, Storage, Or Sale Of Matches.
Section 325F.03 — Flame Resistant Public Assembly Tents.
Section 325F.04 — Flame Resistant Tents And Sleeping Bags.
Section 325F.06 — Civil Penalties.
Section 325F.07 — Criminal Penalty.
Section 325F.071 — Flame-retardant Chemicals; Prohibition.
Section 325F.072 — Firefighting Foam.
Section 325F.075 — Food Packaging; Pfas.
Section 325F.08 — Importation, Manufacture, Sale Or Distribution Of Hazardous Articles.
Section 325F.09 — Definitions.
Section 325F.10 — Banning Of Hazardous Articles; Rules.
Section 325F.11 — Testing Of Articles To Determine And Insure Compliance.
Section 325F.12 — Repurchase Of Banned Articles.
Section 325F.13 — Banned Hazardous Toys; Prohibitions.
Section 325F.135 — Unsafe Recalled Toys; Prohibition On Sale.
Section 325F.14 — Hazardous Toys; Seizure.
Section 325F.15 — Commissioner's Right Of Access To Premises, Records.
Section 325F.171 — Crib Safety.
Section 325F.172 — Definitions.
Section 325F.173 — Bisphenol-a In Certain Children's Products.
Section 325F.174 — Bisphenol-a In Children's Food Containers.
Section 325F.175 — Bisphenol-a Replacement Chemicals.
Section 325F.176 — Definitions.
Section 325F.177 — Formaldehyde In Children's Products; Ban.
Section 325F.178 — Formaldehyde Replacement Chemicals.
Section 325F.179 — Enforcement.
Section 325F.18 — Duty Of Manufacturer.
Section 325F.181 — Formaldehyde Product Standard.
Section 325F.185 — Electric Vehicle Infrastructure.
Section 325F.19 — Home Insulation; Consumer Protection; Definitions.
Section 325F.20 — Specifications For Manufacture, Labeling, And Installation Of Insulation.
Section 325F.21 — Testing Of Insulation.
Section 325F.22 — Unfair And Deceptive Advertising Practices.
Section 325F.23 — Marking, Labeling, And Consumer Information.
Section 325F.24 — Enforcement; Penalties.
Section 325F.245 — Landscape Application Contracts.
Section 325F.25 — Definitions.
Section 325F.26 — Use Of Secondhand Material Forbidden In Certain Cases.
Section 325F.27 — Sale Of Bedding.
Section 325F.28 — Material Must Be Renovated.
Section 325F.29 — Sales Forbidden; Exceptions; Penalties.
Section 325F.30 — Shoddy Material To Be Labeled.
Section 325F.31 — Bedding To Be Labeled.
Section 325F.32 — Feathers To Be Renovated.
Section 325F.34 — Testimony; Production Of Books And Documents.
Section 325F.35 — Definitions.
Section 325F.36 — Manufacture And Sale Of Cotton Duck Or Canvas; Stamps, Brands, And Marks.
Section 325F.37 — Certain Sales Unlawful; Misstatements Forbidden.
Section 325F.39 — Unlawful To Deface Mark.
Section 325F.40 — Violations; Penalties.
Section 325F.41 — Testimony; Production Of Books And Documents.
Section 325F.42 — Fraud In The Sale Of Fur Wearing Apparel.
Section 325F.43 — Imitation Indian-made Goods To Be Branded.
Section 325F.45 — Goods Not To Be Sold Without Brand.
Section 325F.47 — Misrepresentation Of Blind-made Articles Or Products.
Section 325F.48 — Prison-made Goods Are Subject To Laws Of State.
Section 325F.51 — Operation Of Airport Foreign Currency Exchanges.
Section 325F.53 — Retail Merchandise; Price Marking.
Section 325F.55 — Local Ordinance Preempted.
Section 325F.56 — Definitions.
Section 325F.57 — Service Calls.
Section 325F.61 — Return Of Property.
Section 325F.62 — Required Shop Practices.
Section 325F.63 — Remedies; Penalties.
Section 325F.65 — Preemption By State.
Section 325F.662 — Sale Of Used Motor Vehicles.
Section 325F.664 — New Motor Vehicle Damage Disclosures.
Section 325F.6641 — Disclosure Of Vehicle Damage.
Section 325F.6642 — Title Branding.
Section 325F.6643 — Remedies; Penalties.
Section 325F.665 — New Motor Vehicle Warranties; Manufacturer's Duty To Repair, Refund, Or Replace.
Section 325F.6651 — Definitions.
Section 325F.6652 — Notice To Consumer.
Section 325F.6653 — Manufacturer's Duty To Repair.
Section 325F.6654 — Manufacturer's Duty To Refund Or Replace.
Section 325F.6655 — Extension Of Warranty.
Section 325F.6656 — Alternative Dispute Settlement.
Section 325F.6657 — Affirmative Defenses.
Section 325F.6658 — Limitation On Actions.
Section 325F.6659 — Remedy Nonexclusive.
Section 325F.666 — Unlawful Reassignment Of Certain Motor Vehicle Contracts.
Section 325F.6670 — Equipment Required At Time Of Sale.
Section 325F.67 — False Statement In Advertisement.
Section 325F.675 — Fraud Related To Consumer Telephone Records.
Section 325F.68 — Definitions.
Section 325F.69 — Unlawful Practices.
Section 325F.691 — Unreasonable Delay In Mortgage Loan Closing.
Section 325F.692 — Fraudulent Telephone Services; Billing.
Section 325F.693 — Fraudulent Telephone Services; Slamming.
Section 325F.694 — False Or Misleading Commercial Electronic Mail Messages.
Section 325F.696 — Liability For Unauthorized Use Of Cellular Telephones.
Section 325F.697 — Live Check Solicitation Prohibited.
Section 325F.698 — Smartphone Antitheft Protection.
Section 325F.71 — Senior Citizens And Disabled Persons; Additional Civil Penalty For Deceptive Acts.
Section 325F.72 — Disclosure Of Special Care Status Required.
Section 325F.721 — Provision Of "i'm Okay" Check Services.
Section 325F.722 — Consumer Protections For Exempt Settings.
Section 325F.73 — Fraudulent Sale Of Gold And Silver; Penalty.
Section 325F.731 — Definitions.
Section 325F.733 — License; Application; Terms And Conditions.
Section 325F.734 — Identification Of Sellers.
Section 325F.735 — Records Required.
Section 325F.736 — Required Holding Period.
Section 325F.737 — Additional Holding Period.
Section 325F.739 — Certain Purchases Prohibited.
Section 325F.741 — Payment By Check.
Section 325F.742 — Governmental Subdivisions May Regulate.
Section 325F.743 — Criminal Penalty.
Section 325F.744 — Civil Penalty.
Section 325F.755 — Prize Notices And Solicitations.
Section 325F.76 — Definitions.
Section 325F.77 — Promotional Distribution.
Section 325F.781 — Requirements; Tobacco Product Delivery Sales.
Section 325F.783 — Auto Glass Repair Or Replacement.
Section 325F.784 — Prescription Drug Discounts.
Section 325F.785 — Sales Of Hiv Home Collection Kits And Hypodermic Syringes And Needles.
Section 325F.79 — Definitions.
Section 325F.791 — Sales Of Dogs And Cats.
Section 325F.792 — Additional Penalties.
Section 325F.795 — Unauthorized Possession Of Merchandise Pallets.
Section 325F.80 — Retail Sales Of Consumer Goods; Refunds.
Section 325F.81 — Replica Firearms; Warning Label.
Section 325F.82 — Definitions.
Section 325F.83 — Regulation Of Automatic Garage Door Opening Systems.
Section 325F.84 — Definitions.
Section 325F.85 — Application Of Other Law.
Section 325F.86 — Disclosures.
Section 325F.87 — Form Requirements.
Section 325F.88 — Advertising.
Section 325F.90 — Lessee's Reinstatement Rights.
Section 325F.91 — Prohibited Practices.
Section 325F.92 — Lessor's Communications Concerning Lessee.
Section 325F.93 — Early Purchase Option.
Section 325F.94 — Claims And Defenses.
Section 325F.95 — Liability; Liability Damage Waiver.
Section 325F.96 — Exempted Transaction.
Section 325F.97 — Penalties And Remedies.
Section 325F.981 — Check Cashing Practices.
Section 325F.982 — Consumer Identification Information.
Section 325F.985 — Definitions.
Section 325F.986 — Exclusivity Agreements.
Section 325F.987 — Limitation On Actions.
Section 325F.988 — Nonapplication.
Section 325F.99 — Telephone Calls; Fees; Long-distance Carriers; Notice.
Section 325F.991 — 911 Emergency Phone Service Representations.
Section 325F.992 — Prohibition Of Assignment Of Military Pay Or Military Benefits.