§ 15-8-2. Purpose -- Rules of construction.

(1) This chapter shall be liberally construed and applied to promote its underlying purposes and policies.

(2) The underlying purposes and policies of this chapter are to:

(a) define, simplify, and clarify the law governing consumer rental purchase agreements;

(b) provide certain disclosures to consumers who enter into consumer rental purchase agreements, and further consumer understanding of the terms of consumer rental purchase agreements;

(c) protect consumers against unfair practices;

(d) permit and encourage the development of fair and economically sound rental purchase practices; and

(e) make the law on consumer rental purchase agreements, including administrative rules, more uniform among the various consumer credit code jurisdictions.

Enacted by Chapter 251, 1993 General Session