§ 40-19-110 — Reinstatement

Wyoming § 40-19-110

• Jurisdiction: Wyoming
• Title 40: Trade and Commerce
• Ch. 19: CONSUMER RENTAL PURCHASE AGREEMENT ACT

Text

(a) Any consumer whose default consists solely of a
failure to make a timely rental payment may reinstate the
agreement, without losing any rights or options which exist
under the agreement, by paying the following charges within
seven (7) days of the renewal date of the agreement:
(i) All past due rental charges;
(ii) If the property has been picked-up, the
reasonable costs of pickup and redelivery as limited by W.S.
40-19-108(a)(xi); and
(iii) Any applicable reinstatement fee as limited by
W.S. 40-19-108(a)(x) and (xi).
(b) In the case of a consumer who has paid less than
two-thirds (2/3) of the total of payments necessary to acquire
ownership and where the consumer has returned or voluntarily
surrendered the property within seven (7) days of the renewal
date, other than through judicial process, the consumer may
reinstate the agreement during a period of not less than
twenty-one (21) days after the date of the return of the
property.
(c) In the case of a consumer who has paid two-thirds
(2/3) or more of the total of payments necessary to acquire
ownership, and where the consumer has returned or voluntarily
surrendered the property within seven (7) days of the renewal
date, other than through judicial process, the consumer may
reinstate the agreement during a period of not less than thirty
(30) days after the date of the return of the property.
(d) Nothing in this section shall prevent a merchant from
attempting to repossess the property. Repossession within seven
(7) days of the renewal date shall not affect the consumer's
right to reinstate. Upon reinstatement, the merchant shall
provide the consumer with the same property, if available, or
with substitute property of comparable quality and condition.