§ 37-6-204 — Notification; persons making consumer rental-purchase agreements.

In lieu of the notification requirements of Section 37-6-202, persons engaged in this State in making consumer rental-purchase transactions shall: (1) File notification with the administrator within thirty days after commencing business in this State, and, thereafter, on or before January thirty-first of each year. The notification must state: (a) name of the person; (b) name in which business is transacted if different from (a); (c) address of principal office, which may be outside this State; (d) an indication that the creditor engages in the business of making consumer rental-purchase agreements; (e) address of all offices or stores, if any, in this State at which consumer rental-purchase transactions are made, or in the case of a person taking assignments of obligations, the offices or places of business within this State at which business is transacted; (f) an indication of which addresses listed in subitems (c) and (e) engage in making consumer credit sales or cash sales of merchandise in addition to consumer rental-purchase agreements; (g) if consumer rental-purchase transactions are made otherwise than at an office or retail store in this State, a brief description of the manner in which they are made; (h) address of designated agent upon whom service of process may be made in this State (Section 37-1-203); and (2) If information in a notification becomes inaccurate after filing, no further notification is required until the following January thirty-first.

Legislative History

HISTORY: 1985 Act No. 121, SECTION 19. Part 3 Council of Advisors on Consumer Credit