SB258 Steele HFA 3-9 #1

Delegate Steele moves to amend the bill on Page 1, Section 1, line 14, by inserting the following: “(c) If a rent-to-own agreement is terminated other than by the consumer obtaining ownership by buying out the remainder of the agreement by making early payments as limited by 46B-3-5, and if the consumer has made on-half of the total of payments on the first agreement to rent-to-own the same goods, then the seller becomes a secured party and the goods become collateral for the purpose of commercially reasonable disposition of goods pursuant to W. Va. Code §46-9-610, 611, 612, 613, 614, 615, and 616 to determine whether there is a surplus that shall be due to the consumer.  Provided, that there may be no deficiency owed by the consumer in a rent-to-own transaction under this chapter.”

Adopted

Rejected