{"data":{"id":"us-ky/krs-367.981","jurisdiction":"us-ky","citation":"KRS 367.981","heading":"Renegotiation of rental-purchase agreement.","body":"(1) A renegotiation shall occur when an existing rental -purchase agreement is satisfied\nand replaced by a new lease agreement undertaken by the same consumer. A\nrenegotiation shall be a new agreement covered by KRS 367.976 to 367.985.\nHowever, events such as the following shall not be treated as a renegotiation:\n(a) The addition or return of property in a multiple item agreement or the\nsubstitution of lease property, if in either case the average payment allocable\nto a payment period is not changed by more than twenty-five percent (25%);\n(b) A deferral or extension of one (1) or more periodic payments, or portions of a\nperiodic payment;\n(c) A reduction in charges in the agreement;\n(d) An agreement involving a court proceeding; or\n(e) Any other event described in  administrative regulations prescribed by the\noffice.\n(2) No disclosures shall be required for any extension of a rental-purchase agreement.","path":["KRS Chapter 367"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=54568","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:06Z","sha256":"adcc0b80d2dbd11373b81661501a6beb8954abacba7a64bcf1ffa7a596a13a1c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-367.980","next":"us-ky/krs-367.982"},"notice":"GroundRules: Original legal text. Not legal advice."}