Maine Revised Statutes Title 9-A Sec. 11-113 – Reinstatement
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1. A consumer who fails to make a timely rental payment but has returned or surrendered the rental property to the merchant within 7 days after missing a payment or within 2 business days of the merchant’s request, whichever comes later, may reinstate the agreement without losing any rights or options that exist under the agreement by payment of:
A. All past due rental charges; and [PL 1991, c. 787 (NEW).]
B. Other charges expressly provided in this Article, except any initial administrative fee. [PL 2001, c. 287, §13 (AMD).]
[PL 2001, c. 287, §13 (AMD).]
Terms Used In Maine Revised Statutes Title 9-A Sec. 11-113
- Consumer: means an individual who rents personal property under a rental-purchase agreement used primarily for personal, family or household purposes. See Maine Revised Statutes Title 9-A Sec. 11-105
- Merchant: means a person who regularly provides the use of property through rental-purchase agreements and to whom rental payments are initially payable on the face of the rental-purchase agreement. See Maine Revised Statutes Title 9-A Sec. 11-105
- Rental payment: means a payment to be made by a consumer for the right of possession and use of rental property for a specific rental period, but does not include taxes imposed on such payment. See Maine Revised Statutes Title 9-A Sec. 11-105
2.
[PL 2001, c. 287, §13 (RP).]
3.
[PL 2001, c. 287, §13 (RP).]
4. A consumer who has returned or surrendered the rental property within the reinstatement period set forth in subsection 1 may reinstate the agreement during a period of not less than 180 days after the date of the missed payment.
[PL 2001, c. 287, §13 (AMD).]
5. Nothing in this section prevents a merchant from attempting to repossess property during the reinstatement period, but such a repossession does not affect the consumer’s right to reinstate.
[PL 1991, c. 787 (NEW).]
6. Upon reinstatement, the merchant shall provide the consumer with the same property or substitute property of comparable quality and condition.
[PL 1991, c. 787 (NEW).]
SECTION HISTORY
PL 1991, c. 787 (NEW). PL 2001, c. 287, §13 (AMD).