1Amending Titles 13 (Commercial Code) and 42 (Judiciary and 
2Judicial Procedure) of the Pennsylvania Consolidated 
3Statutes, in general provision, providing for construction;
4and in particular rights and immunities, further providing
5for required disclosures in connection with rental-purchase
6agreement and for lessee's right to acquire ownership.

7The General Assembly of the Commonwealth of Pennsylvania
8hereby enacts as follows:

9Section 1. Title 13 of the Pennsylvania Consolidated
10Statutes is amended by adding a section to read:

11§ 1109. Construction.

12Nothing in this title shall be construed to modify or
13supersede the provisions of 42 Pa.C.S. Ch. 69 (relating to
14particular rights and immunities).

15Section 2. Sections 6903(a)(10) and 6905 of Title 42 are
16amended to read:

17§ 6903. Required disclosures in connection with rental-purchase
18agreement.

19(a) General rule.--A lessor shall disclose all of the

1following in a clear and conspicuous manner:

2* * *

3(10) That the lessee has the option to purchase the
4rented property at any time [and at what price or by what
5formula or method the purchase price will be determined] at a 
6price or by a formula or method specified in the rental-
7purchase agreement.

8* * *

9§ 6905. Lessee's right to acquire ownership.

10(a) Limitation on cost of lease services.--The total amount
11charged by the lessor for the cost of lease services in a
12rental-purchase transaction shall not exceed the cash price of
13the property.

14(b) Acquisition of ownership.--[At] A rental-purchase 
15agreement must provide that at any time after tendering an
16initial rental payment, a lessee may acquire ownership of the
17property that is the subject of the rental-purchase agreement
18[by tendering an amount equal at a maximum to the amount by
19which the cash price of the leased property exceeds 50% of all
20rental payments made by the lessee.] at a price or by a formula 
21or method specified in the rental-purchase agreement.

22(c) Chart.--A rental-purchase agreement must be accompanied 
23by a chart showing the amount required to exercise the option to 
24purchase the rented property after each rental payment if rental 
25payments are made as scheduled.

26Section 3. This act shall take effect in 60 days.