RSA 358-P:10 · Renegotiations and Extensions

358-P:10 Renegotiations and Extensions. –

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I.

A renegotiation shall occur when an existing rent-to-own agreement is satisfied and replaced by a new agreement undertaken by the same rent-to-own dealer and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. A renegotiation shall not include:

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(a)

The addition or return of property in a multiple-item agreement or the substitution of the rental property, if in either case the average payment allocable to a payment period is not changed by more than 10 percent.

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(b)

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

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(c)

A reduction in charges in the rent or agreement.

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(d)

A modification to a rent-to-own agreement as a result of a court proceeding.

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II.

No disclosures are required for any extension of a rent-to-own agreement. Source. 1994, 406:1, eff. Jan. 1, 1995.

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