[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR213.6]

[Page 401]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 213--CONSUMER LEASING (REGULATION M)--Table of Contents
 
Sec. 213.6  Electronic communication.

    (a) Definition. ``Electronic communication'' means a message 
transmitted electronically between a lessor and a lessee in a format 
that allows visual text to be displayed on equipment, for example, a 
personal computer monitor.
    (b) General rule. In accordance with the Electronic Signatures in 
Global and National Commerce Act (the E-Sign Act) (15 U.S.C. 7001 et 
seq.) and the rules of this part, a lessor may provide by electronic 
communication any disclosure required by this part to be in writing.
    (c) When consent is required. Under the E-Sign Act, a lessor is 
required to obtain a lessee's affirmative consent when providing 
disclosures related to a transaction. For purposes of this requirement, 
the disclosures required under Sec. 213.7 are deemed not to be related 
to a transaction.
    (d) Address or location to receive electronic communication. A 
lessor that uses electronic communication to provide disclosures 
required by this part shall:
    (1) Send the disclosure to the consumer's electronic address; or
    (2) Make the disclosure available at another location such as a web 
site; and
    (i) Alert the lessee of the disclosure's availability by sending a 
notice to the consumer's electronic address (or to a postal address, at 
the lessor's option). The notice shall identify the transaction involved 
and the address of the Internet web site or other location where the 
disclosure is available; and
    (ii) Make the disclosure available for at least 90 days from the 
date the disclosure first becomes available or from the date of the 
notice alerting the lessee of the disclosure, whichever comes later.
    (3) Exceptions. A lessor need not comply with paragraph (d)(2)(i) 
and (ii) of this section for the disclosures required under Sec. 213.7.
    (e) Redelivery. When a disclosure provided by electronic 
communication is returned to a lessor undelivered, the lessor shall take 
reasonable steps to attempt redelivery using information in its files.

[Reg. M, 66 FR 17328, Mar. 30, 2001]

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