(a) As a condition precedent to reinstatement of the rental purchase agreement, a lessor may charge:(1) the outstanding balance of any accrued regular rental payments, returned payment fees, and delinquency charges;(2) a reinstatement fee not exceeding the amount allowed under IC 24-7-5-6; and(3) delivery charges not exceeding the amounts allowed under IC 24-7-5-3 if redelivery of the item is necessary.(b) A reinstatement fee may not be charged under subsection (a)(2) unless the property has been returned to the lessor and is in the lessor's possession.As added by P.L.254-1987, SEC.1. Amended by P.L.138-1990, SEC.11; P.L.69-2018, SEC.42; P.L.176-2019, SEC.35.
Indiana Legal Code