Section 57-26-10 - Advertising. - New Mexico Statutes

57-26-10. Advertising.

A.     An advertisement that refers to or states the dollar amount of a periodic payment and the right to acquire ownership of a specific item shall also clearly and conspicuously state:   

(1)     that the transaction advertised is a rental-purchase agreement;   

(2)     the total number and total amount of periodic payments necessary to acquire ownership of the item; and   

(3)     that the consumer acquires no ownership rights in the item unless the total amount necessary to acquire is paid.   

B.     Any owner or personnel of any medium in which an advertisement appears or through which it is disseminated shall not be liable for failure to comply with the provisions of this section.   

C.     The provisions of Subsection A of this section shall not apply to an advertisement that does not refer to or state the amount of any payment or that is published in the yellow pages of a telephone directory or in any similar directory of business.   

D.     Every item displayed or offered under a rental-purchase agreement shall bear a tag or card that clearly and conspicuously indicates in Arabic numerals each of the following:   

(1)     the cash price of the item;   

(2)     the amount of the periodic payment; and   

(3)     the total number and total amount of periodic payments necessary to acquire ownership.   

E.     An advertisement in any language other than English shall contain disclosures as required by this section in the non-English language.