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

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

   1. (a) define, simplify, and clarify the law governing consumer rental purchase agreements;
   2. (b) provide certain disclosures to consumers who enter into consumer rental purchase agreements, and further consumer understanding of the terms of consumer rental purchase agreements;
   3. (c) protect consumers against unfair practices;
   4. (d) permit and encourage the development of fair and economically sound rental purchase practices; and
   5. (e) make the law on consumer rental purchase agreements, including administrative rules, more uniform among the various consumer credit code jurisdictions.

Enacted by Chapter 251, 1993 General Session