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

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

   1. (a) Simplify, clarify, and modernize the law governing rental purchase agreements;
   2. (b) Provide certain disclosures to consumers who enter into rental purchase agreements and to promote consumer understanding of the terms of rental purchase agreements;
   3. (c) To protect consumers against unfair practices by some rental purchase dealers, having due regard for the interest of legitimate and scrupulous rental dealers; and
   4. (d) To permit and encourage the development of fair and economically sound rental purchase practices.

Source: L. 90: Entire article added, p. 366, § 1, effective January 1, 1991.