Section 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.