1. (a) An advertisement for a rent-to-own agreement that refers to or states the amount of a payment and the right to acquire ownership of any one particular item under the agreement shall clearly and conspicuously state:

   1. (1) That the transaction advertised is a rent-to-own agreement;
   2. (2) The total number of payments and the total amount to be paid to acquire ownership;
   3. (3) The circumstances under which the consumer can acquire ownership of the property.

2. (b) Any personal property displayed or offered under a rent-to-own agreement shall bear a tag which clearly and conspicuously indicates:

   1. (1) The cash price of the property;
   2. (2) The amount of the periodic payment; and
   3. (3) The total amount that must be paid to acquire ownership of the property.

(P.A. 91-162, S. 11, 18.)