§ 6A-2.1-109 - Option to accelerate at will. - Rhode Island Statutes

SECTION 6A-2.1-109

   § 6A-2.1-109  Option to accelerate at will.– (1) A term providing that one party or his or her successor in interest mayaccelerate payment or performance or require collateral or additionalcollateral "at will" or "when he or she deems himself or herself insecure" orin words of similar import must be construed to mean that he or she has powerto do so only if he or she in good faith believes that the prospect of paymentor performance is impaired.

   (2) With respect to a consumer lease, the burden ofestablishing good faith under subsection (1) is on the party who exercised thepower; otherwise the burden of establishing lack of good faith is on the partyagainst whom the power has been exercised.