§476-29 - Advertising in connection with credit sales. - Hawaii Statutes

     §476-29  Advertising in connection with credit sales.  (a)  Any person who advertises by television, radio, telephone, newspaper, magazine, other printed material, or in any other way, for the credit sale of goods or services primarily for person, family, or household purposes under an open-end credit plan and who in such advertising recites any of the terms required by section 476-4(a) to be disclosed in the same advertisement shall recite:

     (1)  Any minimum, fixed, transaction, activity, or similar charge that could be imposed;

     (2)  The annual percentage rate, and if the plan provides for a variable periodic rate, that fact; and

     (3)  Any membership or participation fee that will be imposed.

     (b)  Any person who advertises by television, radio, telephone, newspaper, magazine, other printed material, or in any other way, for the credit sale of goods or services primarily for personal, family, or household purposes, under a contract providing for the extension of closed-end credit, and who in that advertising recites the amount or percentage of any down payment, the number of payments, the period of payment, the amount of any payment, or the amount of any finance charge, shall in the same advertisement recite:

     (1)  The amount or percentage of the down payment;

     (2)  The terms of repayment; and

     (3)  The annual percentage rate and, if the rate may be increased after the buyer becomes contractually obligated on the contract, that fact.

     (c)  Every advertisement which complies with the requirement of the federal Truth in Lending Act as of the date upon which the advertisement is published shall be deemed to comply with the disclosure provisions of this section.

     (d)  This section shall not apply to catalog offers to sell which conform to the requirements of section 476-11. [L 1967, c 43, §2; HRS §476-35; am and ren L 1984, c 86, pt of §1; am L 1987, c 61, §1]