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2019 Utah Code
Title 15 - Contracts and Obligations in General
Chapter 8 - Utah Rental Purchase Agreement Act
Section 10 - Renegotiations and extensions.
Universal Citation: UT Code § 15-8-10 (2019)
15-8-10. Renegotiations and extensions.
Enacted by Chapter 251, 1993 General Session
- (1) A renegotiation shall occur when an existing rental purchase agreement is satisfied and replaced by a new agreement entered into by the same lessor and consumer. A renegotiation shall be considered a new agreement requiring new disclosures. However, events such as the following may not be treated as renegotiations:
- (a) the addition or return of property in a multiple item agreement or the substitution of the rental property, if in either case the previous periodic payment allocable to a rental period does not change by more than 25%;
- (b) a deferral or extension of one or more periodic payments, or any portion of a periodic payment;
- (c) a reduction in charges in the agreement; or
- (d) any court proceedings involving an agreement.
- (2) Disclosures are not required for any extension of a rental purchase agreement.
Enacted by Chapter 251, 1993 General Session
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