In a consumer rental-purchase agreement, at any time after the lessee has made the first periodic payment, the lessee may:
(1) return the rented property to the lessor;
(2) continue making periodic payments or renewals as provided for in the agreement for the remaining term of the agreement; or
(3) purchase the property by tendering fifty-five percent of the difference between the total of scheduled payments and the total amount paid on the account.
HISTORY: 1985 Act No. 121, Section 6.
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