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Senate Bill 0237

Senate Bill 0237

ARCHIVE (2013)

Latest Information

DIGEST OF SB 237 (Updated March 28, 2013 10:28 am - DI 84)

Rental purchase agreements. Allows a lessor, in connection with a rental purchase agreement, to contract for and receive a fee for rental payments made by telephone if certain conditions are met. Provides that certain fees and charges relating to rental purchase agreements are subject to change under the provisions for adjustment of dollar amounts. Allows a lessee who fails to make timely rental payments to reinstate the original rental purchase agreement without losing any rights or options previously acquired under the rental purchase agreement if: (1) after failing to make a timely rental payment, the lessee surrenders the property to the lessor not later than seven days after the date the lessor requests the property be surrendered; and (2) not more than 120 days elapse after the date the lessee surrenders the property. (Current law states that the lessee has to surrender the property promptly and that not more than 60 days elapse after the date the lessee surrenders the property.)
    Current Status:
    Failed - 2nd House
    Latest Printing (PDF)