Section 12-630 – Violation of Subtitle
(a) Except as provided by subsections (b) and (c) of this section, a holder may not collect or receive any finance, delinquency, or collection charge from the buyer if: (1) The agreement does not contain the information required by §§ 12-604 through 12-606 of this subtitle; (2) The seller fails to deliver to the buyer a required copy […]
Section 12-631 – Jurisdiction of Commissioner of Financial Regulation
(a) If a complaint for violation of any provision of Part II of this subtitle is filed with the Commissioner of Financial Regulation, he may investigate the complaint and hold a hearing on it in accordance with § 11-413 of the Financial Institutions Article. (b) The Commissioner shall give to the person complained against at least ten […]
Section 12-632 – Permitted Transactions
In connection with an installment sale agreement, a sales finance company may: (1) Renew or extend the time for payment of any installment sale agreement or any installment; or (2) Refund to the buyer, for subsequent repayment by him, the amount of any installment previously paid.
Section 12-617 – Payments and Receipts
(a) (1) If a payment is made on account of an agreement, the person receiving the payment shall give the buyer on his request, or, if payment is made in cash, without request, a complete written receipt for the payment. (2) If the buyer specifies that the payment is made on one of several obligations, the receipt shall […]
Section 12-618 – Add-on Contract
(a) In this section, “add-on contract” means an installment sale agreement which allows the inclusion in it of additional goods subsequently purchased and under which the amount due on the subsequent purchase is combined with an unpaid balance on any prior purchase so as to permit the seller to retain a security interest in all goods […]
Section 12-619 – Extension of Due Date or Deferral of Payments
(a) The holder of an installment sale agreement on which the finance charge is computed in advance may: (1) By agreement with the buyer, extend the scheduled due date or defer the scheduled payment of all or part of the installments payable under it; and (2) Charge the buyer an extension or deferral charge. (b) The extension or deferral […]
Section 12-620 – Prepayment
(a) Notwithstanding the provisions of § 12-601(k) of this subtitle and any provision of an installment sale agreement to the contrary, a buyer may prepay at any time, without penalty, all or any part of the unpaid time balance payable under the installment sale agreement if such agreement is for the retail sale of personal property […]
Section 12-621 – Statement of Account
(a) At any time after execution of an agreement, but not later than one year after the last payment is made under it, the holder shall deliver or mail to the buyer at his last known address, within 10 days after the holder receives a written request from the buyer, a copy of the agreement and […]
Section 12-608 – Catalog Sale
(a) This section applies to an installment sale agreement negotiated and entered into without personal solicitation by a salesman or other representative of a seller, if the seller’s prices, terms of payment, and other terms are clearly set forth in a catalog or other printed solicitation of business which is generally available to the public and […]
Section 12-622 – Cancellation of Contract and Release of Security
(a) (1) After the buyer has paid all sums due under an agreement, the holder shall deliver or mail to the buyer at his last known address, within 15 days after the holder receives a written request from the buyer: (i) A signed statement which describes the goods and states that all payments due or to become due […]