§ 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.