{"data":{"id":"us-ky/krs-367.980","jurisdiction":"us-ky","citation":"KRS 367.980","heading":"Required provisions.","body":"(1) Each rental-purchase agreement shall:\n(a) Provide that the consumer may terminate the agreement without penalty by\nvoluntarily surrendering or returning the merchandise upon expiration of any\nlease term; and\n(b) Contain a provision for reinstatement which, at a minimum permits a\nconsumer who fails  to make a timely rental payment to reinstate the\nagreement, without losing any rights or options which exist under the\nagreement, by the payment of all past due rental charges, the reasonable costs\nof pickup, redelivery, any refurbishing and any applicable  late fee within five\n(5) days of the renewal date if the consumer pays monthly, or within two (2)\ndays of the renewal date if the consumer pays more frequently than monthly.\n(2) If a lessee returns the property to the lessor during the times stated in s ubsection (1)\nof this section, the reinstatement period shall be extended for an additional thirty\n(30) days from the date of return.\n(3) Nothing in this section shall prevent a lessor from attempting to repossess property\nduring the reinstatement period, but that repossession shall not affect the consumer's\nright to reinstate. Upon reinstatement, the lessor shall provide the consumer with\nthe same property or substitute property of comparable quality and condition.","path":["KRS Chapter 367"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=35152","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:06Z","sha256":"b49e87cce864db97c88fa54f66826f137707c5c43e48b3ccdc204b715b647fcc","source_id":"us-ky","stale":false,"prev":"us-ky/krs-367.979","next":"us-ky/krs-367.981"},"notice":"GroundRules: Original legal text. Not legal advice."}