HB 2814 Summary

• Amends Arizona law regarding rental-purchase agreements by adding disclosure requirements and prohibiting certain charges and contract terms.

• Requires disclosure of the total cost of rental, which together with any charges or fees, cannot exceed twice the market value of the rental property.

• Prohibits rental-purchase agreement provisions that would result in total fees, charges and periodic payments exceeding twice the market value of the rental property.

• Makes technical correction to warranty disclosure language by changing "expressed warranty" to "express warranty."