Nebraska Revised Statutes Chapter 69. Personal Property § 69-2111. Renegotiation; when; extension; effect
Current as of January 01, 2019 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(1) A renegotiation shall be deemed to occur when an existing consumer rental purchase agreement is satisfied and replaced by a new agreement undertaken by the same consumer. A renegotiation shall be considered a new agreement requiring new disclosures. Renegotiation shall not include:
(a) The addition or return of property in a multiple-item agreement or the substitution of leased property if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent;
(b) Deferral or extension of one or more periodic payments or portions of a periodic payment;
(c) A reduction in charges in the agreement;
(d) An agreement involving a court proceeding; and
(e) Any other event described in rules and regulations adopted and promulgated by the department.
(2) No disclosures shall be required for any extension of a consumer rental purchase agreement.
Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 69. Personal Property § 69-2111. Renegotiation; when; extension; effect - last updated January 01, 2019 | https://codes.findlaw.com/ne/chapter-69-personal-property/ne-rev-st-sect-69-2111/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?