§11-113. Reinstatement
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).]
[PL 2001, c. 287, §13 (AMD).]
2.
[PL 2001, c. 287, §13 (RP).]
3.
[PL 2001, c. 287, §13 (RP).]
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.
[PL 2001, c. 287, §13 (AMD).]
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.
[PL 1991, c. 787 (NEW).]
6. Upon reinstatement, the merchant shall provide the consumer with the same property or substitute property of comparable quality and condition.
[PL 1991, c. 787 (NEW).]
SECTION HISTORY
PL 1991, c. 787 (NEW). PL 2001, c. 287, §13 (AMD).
Structure Maine Revised Statutes
TITLE 9-A: MAINE CONSUMER CREDIT CODE
Article 11: RENTAL-PURCHASE PRACTICES
9-A §11-102. Purpose; rules of construction
9-A §11-103. Supplementary general principles of law applicable
9-A §11-106. Inapplicability of other laws; exempt transactions
9-A §11-107. General requirements of disclosure
9-A §11-109. Prohibited practices
9-A §11-110. Calculation of late charges
9-A §11-111. Allowable charges
9-A §11-112. Default; notice of default and right to cure
9-A §11-114. Consumer's right to acquire ownership when 50% of payments equals cash price
9-A §11-115. Liability damage waivers; fees
9-A §11-116. Receipts and accounts
9-A §11-117. Renegotiations and extensions
9-A §11-118. Advertising and point-of-sale disclosure
9-A §11-119. Collection activity