Each of the following acts or practices are unlawful in the context of offering a consumer lease of a motor vehicle:

     (1) Advertising that is false, deceptive, misleading, or in violation of *12 C.F.R. Sec. 213.5 (a) through (d) and 15 U.S.C. 1667, Regulation M;

     (2) Misrepresenting any of the following:

     (a) The material terms or conditions of a lease agreement;

     (b) That the transaction is a purchase agreement as opposed to a lease agreement; or

     (c) The amount of any equity or value the leased vehicle will have at the end of the lease; and

     (3) Failure to comply with the disclosure requirements of Title I of the federal consumer protection act (90 Stat. 257, 15 U.S.C. Sec. 1667 et seq.), which is also known as the federal consumer leasing act, including, but not limited to, failure to disclose all fees that will be due when a consumer exercises the option to purchase.

[1995 c 112 § 3.]

NOTES:

     *Reviser's note: 12 C.F.R. Sec. 213.5 (a) through (d) has been amended. See 12 C.F.R. Sec. 213.7 (a) through (f).