ORS 646A.132 - Renegotiation or extension of lease-purchase agreement

ORS 646A.132
Renegotiation or extension of lease-purchase agreement

(1)

A renegotiation shall occur when an existing lease-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. A renegotiation shall not include:

(a)

The addition or return of property in a multiple item agreement or the substitution of the lease property, if in either case the average payment allocable to a payment period is not changed by more than 10 percent;

(b)

A deferral or extension of one or more periodic payments, or portions of a periodic payment;

(c)

A reduction in charges in the lease or agreement; and

(d)

A lease or agreement involved in a court proceeding.

(2)

No disclosures are required for any extension of a lease-purchase agreement. [Formerly 646.257]

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Trade Regulation

ORS 646A.132
Renegotiation or extension of lease-purchase agreement

(1)

(a)

(b)

(c)

(d)

(2)

Source

Trade Regulation

ORS 646A.132 Renegotiation or extension of lease-purchase agreement

(1)

(a)

(b)

(c)

(d)

(2)

Source

ORS 646A.132
Renegotiation or extension of lease-purchase agreement