Indiana § 24-7-6-2 Charges allowed as condition precedent to reinstatement

Indiana Statutes

§ 24-7-6-2 — Charges allowed as condition precedent to reinstatement

Indiana·Art. 7 RENTAL PURCHASE AGREEMENTS·Ch. 6 Reinstatement; Garnishment; Unconscionable

(a)As a condition precedent to reinstatement of the rental purchase agreement, a lessor may charge:

(1)the outstanding balance of any accrued regular rental payments, returned payment fees, and delinquency charges;

(2)a reinstatement fee not exceeding the amount allowed under IC 24-7-5-6; and

(3)delivery charges not exceeding the amounts allowed under IC 24-7-5-3 if redelivery of the item is necessary.

(b)A reinstatement fee may not be charged under subsection (a)(2) unless the property has been returned to the lessor and is in the lessor's possession.

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(a) As a condition precedent to reinstatement of
the rental purchase agreement, a lessor may charge:
(1) the outstanding balance of any accrued regular rental
payments, returned payment fees, and delinquency charges;
(2) a reinstatement fee not exceeding the amount allowed under
IC 24-7-5-6; and
(3) delivery charges not exceeding the amounts allowed under IC 24-7-5-3 if redelivery of the item is necessary.
(b) A reinstatement fee may not be charged under subsection (a)(2)
unless the property has been returned to the lessor and is in the lessor's
possession.

Indiana § 24-7-6-2 (Charges allowed as condition precedent to reinstatement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.