W. Va. Code R. § 142-22-1

Current through Register Vol. XLI, No. 25, June 21, 2024

Section 142-22-1 - General

1.1. Scope. -- This Rule relates to the regulation of rent-to- own agreements under the West Virginia Consumer Goods Rental Protection Act, W. Va. Code '46A-1-101 et seq. and consumer credit sales under the West Virginia Consumer Credit and Protection Act, W. Va. Code '46B-1-1 et seq.

1.2. Authority. -- W. Va. Code ''46A-6-103, 46A-7-102(e), and 46B-3-10.

1.3. Filing Date. -- April 8, 1994.

1.4. Effective date. -- May 9, 1994.

1.5. Penalties. -- Except as otherwise indicated, a violation of this rule constitutes a violation of the West Virginia Consumer Goods Rental Protection Act, W. Va. Code '46B-1-1 et seq.

1.6. Construction.

1.6.1. This rule shall be liberally construed to protect consumers pursuant to the West Virginia Consumer Goods Rental Protection Act W. Va. Code '46B-1-1 et seq. and the West Virginia Consumer Credit and Protection Act, W. Va. Code '46A-1-1 et seq.

1.6.2. The definition of "rent-to-own agreement" in the West Virginia Consumer Goods Rental Protection Act [46B-1-5(17)] and the definition of "consumer credit sale" in the West Virginia Consumer Credit and Protection Act [46A-1-102(13)] shall be construed so that every transaction is either a "consumer credit sale" or a "rent-to-own agreement" if the subject matter of the transaction is personal property which is to be used for personal, family or household purposes, and if a natural person who is not in the business of selling or otherwise dealing with such goods is acquiring rights to ownership of the goods by paying over time, and if such natural persons has the right to use or possession of the property before all payments are made.

1.7. Severability. -- If, for any reason, any section, subsection, sentence, clause, phrase, or provision of this rule or the application of this rule to any person or circumstance is held unconstitutional or invalid, such unconstitutionality or invalidity shall not affect other sections, subsections, sentences, clauses, phrases, or provisions or its application to any other person or circumstance, and to this end each and every section, subsection, sentence, clauses, phrase, or provision of this rule is hereby declared severable.

W. Va. Code R. § 142-22-1