§481M-17 Renegotiation for new agreement and extensions. (a) A renegotiation shall occur when an existing lease-purchase agreement is satisfied and replaced by a new agreement undertaken by the same lessor and lessee. A renegotiation shall be considered a new agreement requiring new disclosures.
(b) The following events shall not be treated as renegotiations:
(c) No disclosures are required for any extension of a lease-purchase agreement. [L 1997, c 248, pt of §1; am L 2008, c 19, §36]