1.
A consumer who fails to make a timely rental payment but has returned or surrendered the rental property to the merchant
within 7 days after missing a payment or within 2 business days of the merchant's request, whichever comes later, may reinstate
the agreement without losing any rights or options that exist under the agreement by payment of:
A. All past due rental charges; and [1991, c. 787, (NEW).]
B. Other charges expressly provided in this Article, except any initial administrative fee. [2001, c. 287, §13 (AMD).]
[
2001, c. 287, §13 (AMD)
.]
2.
[
2001, c. 287, §13 (RP)
.]
3.
[
2001, c. 287, §13 (RP)
.]
4.
A consumer who has returned or surrendered the rental property within the reinstatement period set forth in subsection 1
may reinstate the agreement during a period of not less than 180 days after the date of the missed payment.
[
2001, c. 287, §13 (AMD)
.]
5.
Nothing in this section prevents a merchant from attempting to repossess property during the reinstatement period, but such
a repossession does not affect the consumer's right to reinstate.
[
1991, c. 787, (NEW)
.]
6.
Upon reinstatement, the merchant shall provide the consumer with the same property or substitute property of comparable
quality and condition.
[
1991, c. 787, (NEW)
.]
SECTION HISTORY
1991, c. 787, (NEW).
2001, c. 287, §13 (AMD).
Data for this page extracted on 10/16/2012 08:19:41.