§ 59.1-207.26 Advertising
A. If an advertisement for a lease-purchase agreement refers to or states the dollar amount of any payment and the right to acquire ownership for any one specific item, the advertisement shall also clearly and conspicuously state the following items, as applicable:
1. That the transaction advertised is a lease-purchase agreement;
2. The total of payments necessary to acquire ownership; and
3. That the consumer acquires no ownership rights if the total amount necessary to acquire ownership is not paid.
B. Any owner or personnel of any medium in which an advertisement appears or through which it is disseminated shall not be liable under this section.
C. The provisions of subsection A of this section shall not apply to an advertisement which does not refer to or state the amount of any payment, or which is published in the yellow pages of a telephone directory or in any similar directory of business.
History
This law was first created in 1988. The record of its establishment is cataloged in chapter 24 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1988 “Acts” aren’t available online.
1988, c. 24.