Trade Regulation

ORS 646A.124
General disclosure requirements


(1)

The lessor shall disclose to the consumer the information required by ORS 646A.126 (Specific disclosure requirements). In a transaction involving more than one lessor, only one lessor need make the disclosures, but all lessors shall be bound by the 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 shall be provided to the consumer. The disclosures required under ORS 646A.126 (Specific disclosure requirements) 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 ORS 646A.120 (Definitions for ORS 646A) to 646A.134 (Disclosures required in advertisement for lease-purchase agreements).

(5)

If any portion of the transaction is conducted in any language other than English, the disclosures required under ORS 646A.120 (Definitions for ORS 646A) to 646A.134 (Disclosures required in advertisement for lease-purchase agreements) shall be in the language other than English. This subsection does not apply if any portion of the transaction is conducted through an interpreter supplied by the lessee. [Formerly 646.249]

Source

Last accessed
May 26, 2023