(a) General requirements. A lessor shall make the disclosures required
by section 1013.4, as applicable. The disclosures shall be made clearly
and conspicuously in writing in a form the consumer may keep, in accordance
with this section. The disclosures required by this part may be provided
to the lessee in electronic form, subject to compliance with the consumer
consent and other applicable provisions of the Electronic Signatures
in Global and National Commerce Act (E-Sign Act) (15 U.S.C. 7001 et seq.). For an advertisement accessed by the consumer in electronic
form, the disclosures required by section 1013.7 may be provided to
the consumer in electronic form in the advertisement, without regard
to the consumer consent or other provisions of the E-Sign Act.
(1) Form of disclosures. The disclosures required by section 1013.4 shall be given to the
lessee together in a dated statement that identifies the lessor and
the lessee; the disclosures may be made either in a separate statement
that identifies the consumer lease transaction or in the contract
or other document evidencing the lease. Alternatively, the disclosures
required to be segregated from other information under paragraph (a)(2)
of this section may be provided in a separate dated statement that
identifies the lease, and the other required disclosures may be provided
in the lease contract or other document evidencing the lease. In a
lease of multiple items, the property description required by section
1013.4(a) may be given in a separate statement that is included in
the disclosure statement required by this paragraph.
(2) Segregation
of certain disclosures. The following disclosures shall be segregated
from other information and shall contain only directly related information:
sections 1013.4(b) through (f), (g)(2), (h)(3), (i)(1), (j), and (m)(1).
The headings, content, and format for the disclosures referred to
in this paragraph (a)(2) shall be provided in a manner substantially
similar to the applicable model form in Appendix A of this part.
(3) Timing of disclosures. A lessor shall provide
the disclosures to the lessee prior to the consummation of a consumer
lease.
(4) Language of disclosures. The disclosures
required by section 1013.4 may be made in a language other than English
provided that they are made available in English upon the lessee’s
request.
6-5506
(b) Additional
information; nonsegregated disclosures. Additional information
may be provided with any disclosure not listed in paragraph (a)(2)
of this section, but it shall not be stated, used, or placed so as
to mislead or confuse the lessee or contradict, obscure, or detract
attention from any disclosure required by this part.
(c) Multiple lessors or lessees. When
a transaction involves more than one lessor, the disclosures required
by this part may be made by one lessor on behalf of all the lessors.
When a lease involves more than one lessee, the lessor may provide
the disclosures to any lessee who is primarily liable on the lease.
(d) Use of estimates. If an amount or other item needed to comply with a required disclosure
is unknown or unavailable after reasonable efforts have been made
to ascertain the information, the lessor may use a reasonable estimate
that is based on the best information available to the lessor, is
clearly identified as an estimate, and is not used to circumvent or
evade any disclosures required by this part.
6-5507
(e) Effect of subsequent occurrence. If a required
disclosure becomes inaccurate because of an event occurring after
consummation, the inaccuracy is not a violation of this part.
(f) Minor variations. A
lessor may disregard the effects of the following in making disclosures:
(1) That payments must be
collected in whole cents;
(2) That dates of scheduled payments may be different because a scheduled
date is not a business day;
(3) That months have different numbers
of days; and
(4) That
February 29 occurs in a leap year.
