(1) If an advertisement for a lease-purchase agreement refers to or states the dollar amount of the rental payment and the right to acquire ownership for any one (1) specific item, then in respect to that item the advertisement shall also clearly and conspicuously state the following items, as applicable: (a) That the transaction advertised is a lease-purchase agreement; (b) The total of payments necessary to acquire ownership; and (c) That the consumer acquires no ownership rights if the total amount necessary to acquire ownership is not paid. (2) No owner or personnel of any medium in which an advertisement appears or through which it is disseminated shall be liable under this section. (3) The provisions of subsection (1) of this section shall not apply to an advertisement which does not refer to or state the dollar amount of any payment, or which is published in a telephone directory, or in any similar business directory.
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