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Section 10 - Renegotiations and extensions.

UT Code § 15-8-10 (2019) (N/A)
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(1) A renegotiation shall occur when an existing rental purchase agreement is satisfied and replaced by a new agreement entered into by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, events such as the following may not be treated as renegotiations: (a) the addition or return of property in a multiple item agreement or the substitution of the rental property, if in either case the previous periodic payment allocable to a rental period does not change by more than 25%; (b) a deferral or extension of one or more periodic payments, or any portion of a periodic payment; (c) a reduction in charges in the agreement; or (d) any court proceedings involving an agreement.

(a) the addition or return of property in a multiple item agreement or the substitution of the rental property, if in either case the previous periodic payment allocable to a rental period does not change by more than 25%;

(b) a deferral or extension of one or more periodic payments, or any portion of a periodic payment;

(c) a reduction in charges in the agreement; or

(d) any court proceedings involving an agreement.

(2) Disclosures are not required for any extension of a rental purchase agreement.

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