Legislation
SECTION 508
Administration by the attorney general
Personal Property (PEP) CHAPTER 41, ARTICLE 11
§ 508. Administration by the attorney general. The attorney general
may make rules and regulations necessary for the administration of this
article; provided, however, that such rules and regulations shall not
attempt to regulate or characterize rental-purchase agreements as a
security interest, credit sale, retail installment sale, conditional
sale or any other form of consumer credit that imputes to a
rental-purchase agreement the creation of a debt or extension of credit,
nor shall such rules and regulations require the disclosure of a
percentage rate calculation, including a time-price differential, an
annual percentage rate, or an effective annual percentage rate.
may make rules and regulations necessary for the administration of this
article; provided, however, that such rules and regulations shall not
attempt to regulate or characterize rental-purchase agreements as a
security interest, credit sale, retail installment sale, conditional
sale or any other form of consumer credit that imputes to a
rental-purchase agreement the creation of a debt or extension of credit,
nor shall such rules and regulations require the disclosure of a
percentage rate calculation, including a time-price differential, an
annual percentage rate, or an effective annual percentage rate.