Arizona § 44-6809 Renegotiations

Arizona Statutes

§ 44-6809 — Renegotiations

Arizona·Title 44 Arizona Revised Statutes·Ch. 22 RENTAL-PURCHASE AGREEMENTS·Art. 1 General Provisions

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.

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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.

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