537.3619 Cure of default. 1. In a consumer rental purchase agreement, after a lessee has been in default for three business days and has not voluntarily surrendered possession of the rented property, a lessormay give the lessee the notice provided in subsection 3 when the consumer has the rightto cure a default. A lessor gives the notice to the lessee under this section when the lessordelivers notice to the lessee or mails the notice to the last known address of the lessee. 2. For the purpose of this section, there is no right to cure and no limitation on the lessor’s rights with respect to a default that occurs within twelve months after an earlier default as towhich a lessor has given a proper notice of the lessee’s right to cure. 3. The notice of right to cure must be in writing and conspicuously state all of the following: a. The name, address, and telephone number of the lessor to whom payment is to be made. b. A brief identification of the transaction.c. The lessee’s right to cure the default.d. The amount of payment and date by which payment must be made to cure the default. A notice in substantially the following form complies with this subsection: THE NAME, ADDRESS, & cure the default.d. The amount of payment and date by which payment must be made to cure the default. A notice in substantially the following form complies with this subsection: THE NAME, ADDRESS, & TELEPHONE NUMBER OF THE LESSOR ACCOUNT NUMBER, IF ANY BRIEF IDENTIFICATION OF TRANSACTION ( ) is the last date for payment, ( ) is the amount now due. You have failed to renew your rental purchaseagreement(s). If you pay the amount now due (above) by the lastdate for payment (above), you may continue with the agreement asthough you had renewed on time. If you do not pay by that date, wemay exercise our rights under the law. If you are late again duringthe next twelve months of your agreement, in either returningthe property or renewing your agreement, we may exercise ourrights without sending you another notice like this one. If you havequestions, you may write or telephone the lessor promptly. 4. With respect to a consumer rental purchase agreement, except as provided in subsection 5, after a default consisting of the lessee’s failure to renew and failure to returnthe property, a lessor, because of that default, may not instigate court action to recover therented property until five ter a default consisting of the lessee’s failure to renew and failure to returnthe property, a lessor, because of that default, may not instigate court action to recover therented property until five business days after the notice of the lessee’s right to cure is given.In the case of an agreement with weekly or biweekly renewal dates, such action shall not betaken until three business days after the notice of the lessee’s right to cure is given. 5. With respect to defaults on the same consumer rental purchase agreement and subject to subsection 4, after a lessor has once given a proper notice of the lessee’s right to cure, thissection does not give the consumer a right to cure or impose any additional limitations beyondthose otherwise imposed by this part on the lessor’s right to proceed against the lessee or thelessor’s right to recover the property. 6. Until expiration of the minimum applicable periods contained in subsection 4 after notice is given, the lessee may cure all defaults consisting of failure to renew and failure toreturn the property by tendering the amount of all unpaid sums due at the time of the tenderplus any unpaid delinquency charges or other charges defaults consisting of failure to renew and failure toreturn the property by tendering the amount of all unpaid sums due at the time of the tenderplus any unpaid delinquency charges or other charges authorized by section 537.3616. 7. This section and the provisions on limitations of agreements do not prohibit a lessee from voluntarily surrendering possession of the rented property, and the lessor fromenforcing any past due obligation which the lessee may have at any time after default.However, in an enforcement proceeding, the lessor shall affirmatively plead and prove eitherthat the notice to cure is not required or that the lessor has given the required notice, but thefailure to so plead does not invalidate any action taken by the lessor that is lawful and if thelessor has rightfully repossessed any property the repossession is not conversion. Sat Dec 23 01:40:44 2023 Iowa Code 2024, Section 537.3619 (20, 0) §537.3619, CONSUMER CREDIT CODE 2 8. A repossession of rented property in violation of this section is void.87 Acts, ch 80, §19Referred to in §537.3610 Sat Dec 23 01:40:44 2023 Iowa Code 2024, Section 537.3619 (20, 0)
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