44-6809. Renegotiations

A. A renegotiation occurs if any term of a rental-purchase agreement that is required to be disclosed by section 44-6804 is changed by agreement by the lessor and consumer. A renegotiation is considered to be a new rental-purchase agreement requiring the lessor to give all of the disclosures required by section 44-6804.

B. A renegotiation shall not include any of the following:

1. Reinstatement of a rental-purchase agreement in accordance with section 44-6807, subsection A.

2. A lessor's waiver or failure to assert any claim against the consumer.

3. A deferral, extension or waiver of a portion of a periodic payment or of one or more periodic payments.

4. A change, made at the consumer's request, of the day of the week or month on which periodic payments are to be made.

44-6809. Renegotiations

A. A renegotiation occurs if any term of a rental-purchase agreement that is required to be disclosed by section 44-6804 is changed by agreement by the lessor and consumer. A renegotiation is considered to be a new rental-purchase agreement requiring the lessor to give all of the disclosures required by section 44-6804.

B. A renegotiation shall not include any of the following:

1. Reinstatement of a rental-purchase agreement in accordance with section 44-6807, subsection A.

2. A lessor's waiver or failure to assert any claim against the consumer.

3. A deferral, extension or waiver of a portion of a periodic payment or of one or more periodic payments.

4. A change, made at the consumer's request, of the day of the week or month on which periodic payments are to be made.