345. Renegotiations and extensions. 1. A renegotiation is a new lease which is subject to the disclosure requirements of section three hundred thirty-seven of this article.
2. The disclosure requirements of section three hundred thirty-seven of this article are not applicable to any extension of a retail lease agreement. An extension of a retail lease agreement need not be signed contemporaneously by the holder and the lessee if the extension is transacted by mail, is for a period of twenty-four months or less and is first signed by the holder prior to signature by the lessee.
Last modified: February 3, 2019