(a) As a condition precedent to reinstatement of the rental purchase agreement, a lessor may charge:
- (1) the outstanding balance of any accrued rental payments 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.