Amendment AA5-ASA1-AB759

LRBa2267/1

ARG:amn

2017 - 2018 LEGISLATURE

ASSEMBLY AMENDMENT 5, TO ASSEMBLY SUBSTITUTE AMENDMENT 1, TO ASSEMBLY BILL 759

February 20, 2018 - Offered by Representative Zimmerman.

AB759-ASA1-AA5,1,1 At the locations indicated, amend the substitute amendment as follows:

AB759-ASA1-AA5,1,2 1. Page 13, line 8: after “(2)," insert “and except as provided in s. 420.16,".

AB759-ASA1-AA5,1,3 2. Page 20, line 10: after that line insert:

AB759-ASA1-AA5,1,6 “420.16 Notice to lessee prior to replevin. (1) Before a rental-purchase company may commence a replevin action, the rental-purchase company must deliver a written notice to the lessee at least 7 days prior to the filing of the action.

AB759-ASA1-AA5,1,7 (2) The notice under sub. (1) shall include all of the following information:

AB759-ASA1-AA5,1,8 (a) The date the rental-purchase agreement expired.

AB759-ASA1-AA5,1,9 (b) The amount of any reinstatement fee that has been or may be assessed.

AB759-ASA1-AA5,1,12 (c) The total amount of periodic payments necessary to reinstate the rental-purchase agreement as of the date of the notice, including any reinstatement fee.

AB759-ASA1-AA5,2,3 (d) That the lessee may voluntarily surrender the rental property to the rental-purchase company at the lessee's residence or other location as agreed upon by both parties.

AB759-ASA1-AA5,2,5 (e) That the rental-purchase company is requesting that the rental property be voluntarily surrendered prior to seeking legal action for return of the property.”.

AB759-ASA1-AA5,2,6 (End)