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).]
2.
3.
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.
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.
6. Upon reinstatement, the merchant shall provide the consumer with the same property or substitute property of comparable quality and condition.