Sec. 1. 9-A MRSA §11-105, sub-§3, as enacted by PL 1991, c. 787, is amended to read:

3. "Cash price" means the price for which the merchant would sell the property to the consumer for cash on the date of the rental-purchase agreement. The "cash price" must be reasonably related to the current fair market value of the property.

Sec. 2. 9-A MRSA §11-108, sub-§1, śC, as enacted by PL 1991, c. 787, is amended to read:

C. A statement that the consumer is responsible for the current fair market value of the property if, and as of the time, it is stolen, damaged or destroyed;

Sec. 3. 9-A MRSA §11-109, sub-§§11 and 12, as enacted by PL 1991, c. 787, are amended to read:

11. A provision for payment by a cosigner of the rental- purchase agreement of any fees or charges that could not be assessed to the consumer as part of the rental-purchase agreement; or

12. An offer of insurance from the merchant to the consumer.; or

Sec. 4. 9-A MRSA §11-109, sub-§13 is enacted to read:

13.__A cash price that is attributed to the goods that are subject to the rental-purchase agreement that does not accurately reflect the current fair market value of the goods.

Sec. 5. 9-A MRSA §11-110-A is enacted to read:

§11-110-A.__Calculation of cash price

When calculating the current cash price of an item the merchant shall take into account the following factors:

1.__The actual price originally paid by the merchant for the item;

2.__Whether the item is currently used or new or was originally purchased used or new;

3.__The number of times the item has already been the subject of a rental-purchase agreement and whether it has been repaired one or more times;