15-8-8 - Reinstatement. - Utah Statutes

15-8-8. Reinstatement.
(1) (a) A consumer who fails to make a timely rental payment may reinstate theagreement, without losing any rights or options that exist under the agreement, by paying:
(i) all past due rental charges;
(ii) reasonable costs of pickup and redelivery if the consumer reinstates after lessor hasbeen required to pick up the property from the consumer; and
(iii) any applicable late fee.
(b) Any reinstatement payment shall be made within five days after the renewal date ifthe consumer pays monthly, or within two days after the renewal date if the consumer pays morefrequently than monthly.
(2) A consumer who has paid less than 2/3 of the total of payments necessary to acquireownership and who has returned or voluntarily surrendered the property, other than throughjudicial process, during the applicable reinstatement period set forth in Subsection (1), mayreinstate the agreement. Reinstatement may occur under the circumstance described in thissubsection, during a period, as agreed by the parties, which may not be less than 45 days from thedate of the return or surrender of the property.
(3) A consumer who has paid 2/3 or more of the total payments necessary to acquireownership and who has returned or voluntarily surrendered the property, other than throughjudicial process, during the applicable period set forth in Subsection (1), may reinstate theagreement. Reinstatement may occur under the circumstances described in this subsection duringa period, as agreed by the parties, which may not be less than 90 days from the date of the returnor surrender of the property.
(4) This section does not prevent a lessor from attempting to repossess property duringthe reinstatement period, but such a repossession does not affect the consumer's right to reinstate.Upon reinstatement, the lessor shall provide the consumer with the same property, if available, orsubstitute property of comparable quality and condition.

Enacted by Chapter 251, 1993 General Session