RS 9:3359
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/la/title-9/9-1018A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 9:3359
§3359. Renegotiations and extensions
A. A renegotiation shall occur when an existing rental-purchase agreement is satisfied and replaced by a new agreement undertaken by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, events such as the following shall not be treated as renegotiations:
(1)The addition or return of property in a multiple-item agreement or the substitution of the rented property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five months.
(2)A deferral or extension of one or more periodic payments, or portions of a periodic payment.
(3)A reduction in charges in the rental-purchase agreement.
(4)A rental-purchase agreement involved in a court proceeding.
B. No disclosures shall be required for any extension of a rental-purchase agreement.
Acts 1991, No. 204, §1, eff. Jan. 1, 1992.