Montana § 30-19-114 Renegotiation Of Rental-Purchase Agreement -- Extension Not Considered Renegotiation

Montana Statutes

§ 30-19-114 — Renegotiation Of Rental-Purchase Agreement -- Extension Not Considered Renegotiation

Montana·Title 30 TRADE AND COMMERCE·Ch. 19 RENTAL AND RENTAL-PURCHASE AGREEMENTS·Part 1 Montana Rental-Purchase Agreement Act

30-19-114 . Renegotiation of rental-purchase agreement -- extension not considered renegotiation.

(1)A renegotiation of an agreement must occur when an existing agreement is satisfied and replaced by a new agreement between the lessor and the consumer. A renegotiation is considered a new agreement and requires new disclosures as provided for in 30-19-110 . The following events may not be treated as a renegotiation:

(a)the addition or return of property in a multiple-item agreement or in the substitution of the rental property, if in either case the average payment allocable to a payment period is not changed by more than 25%;

(b)a deferral or extension of one or more periodic payments or portions of a periodic payment;

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

(d)an agreement inv

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30-19-114 . Renegotiation of rental-purchase agreement -- extension not considered renegotiation. (1) A renegotiation of an agreement must occur when an existing agreement is satisfied and replaced by a new agreement between the lessor and the consumer. A renegotiation is considered a new agreement and requires new disclosures as provided for in 30-19-110 . The following events may not be treated as a renegotiation:
(a) the addition or return of property in a multiple-item agreement or in the substitution of the rental property, if in either case the average payment allocable to a payment period is not changed by more than 25%;
(b) a deferral or extension of one or more periodic payments or portions of a periodic payment;
(c) a reduction in charges in the agreement; or
(d) an agreement involved in a court proceeding.
(2) An extension of an agreement is not a renegotiation.

Montana § 30-19-114 (Renegotiation Of Rental-Purchase Agreement -- Extension Not Considered Renegotiation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.