§ 537.3616 — Lessee’s reinstatement rights

Iowa § 537.3616

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 537: CONSUMER CREDIT CODE

Text

1. A lessee who fails to make timely rental payments has the right to reinstate the original
consumerrentalpurchaseagreementwithoutlosinganyrightsoroptionspreviouslyacquired
under the consumer rental purchase agreement if both of the following apply:

a. Subsequent to having failed to make a timely rental payment, the lessee has
surrendered the property to the lessor, if and when requested by the lessor.
b. Not more than sixty days has passed since the lessee has returned the property.
2. As a condition precedent to reinstatement of a consumer rental purchase agreement,
a lessor may charge the outstanding balance of any accrued payments and delinquency
charges, a reinstatement fee, and the delivery charges allowable by section 537.3612,
subsection 2, if redelivery of the item is necessary.
3. If reinstatement occurs pursuant to this section, the lessor shall provide the lessee with
the same item, if available, leased by the lessee prior to reinstatement. If the same item is
not available, a substitute item of comparable worth, quality, and condition may be used.
If a substitute item is provided, the lessor shall provide the lessee with all the information
required by section 537.3605.