(a) A renegotiation occurs when any term of a rental-purchase agreement that is required to be disclosed by W.S. 40-19-107 is changed by agreement between the merchant and consumer. A renegotiation is considered to be a new rental-purchase agreement requiring the merchant to give all the disclosures required by W.S. 40-19-107.
(b) The following acts shall not be considered to be a renegotiation:
(i) Reinstatement of a rental-purchase agreement in accordance with W.S. 40-19-110;
(ii) A merchant's waiver or failure to assert any claim against the consumer;
(iii) A deferral, extension or waiver of a portion of a periodic payment or of one (1) or more periodic payments; or (iv) A change, made at the consumer's request, of the day of the week or month on which periodic payments are to be made.