Sec. 2. (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;

contract signature

Ask a consumer protection question, get an answer ASAP!
Thousands of highly rated, verified consumer protection lawyers.
Help with credit card debt, collections, defective products
Get help with bankruptcy, filing complaints, extended warranties & more
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 24-7-6-2

  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(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.

As added by P.L.254-1987, SEC.1. Amended by P.L.138-1990, SEC.11; P.L.69-2018, SEC.42; P.L.176-2019, SEC.35.

  Previous section
Next section  
 Chapter 6 Contents