"Initial rental payment" means any up-front payment:

1. (1) that is made by a lessee to a lessor, or to an agent acting on behalf of a lessor, for property under a rental purchase agreement;
2. (2) that includes a rental payment that permits the lessee's use of the property for the initial rental period;
3. (3) that may be in an amount that is larger than a regular rental payment due under the rental purchase agreement; and

4. (4) that may include one (1) or more of the following:

   1. (A) An amount intended to be paid toward the rental or ownership of the property that is the subject of the rental purchase agreement.

   2. (B) Additional charges permitted under IC 24-7-5 , including any of the following:

      1. (i) A nonrefundable processing fee or a delivery charge.
      2. (ii) Sales and use taxes.
      3. (iii) Official fees.
      4. (iv) An optional liability waiver fee for the initial rental period.
      5. (v) A security deposit.

As added by P.L.176-2019, SEC.29.