Section 12-628 – Promissory Note
(a) If, as part of an installment sale, a promissory note is taken by a seller or sales finance company, the note shall refer to the agreement out of which it arises. (b) If the note is assigned, it is subject to all defenses which the buyer might have asserted against the seller or sales finance company, […]
Section 12-629 – Waiver by Buyer Invalid
No act, agreement, or statement of a buyer in an agreement may constitute a valid waiver of any benefit or protection provided to him under this subtitle.
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 12-626 – Repossession — Resale of Goods
(a) Subject to the provisions of subsection (b) of this section, the holder shall sell any repossessed goods at public auction if the buyer: (1) Has paid at least 50 percent of the cash price of the goods; and (2) Within the 15-day period provided for in § 12-625(a) of this subtitle, requests sale of the goods in […]
Section 12-627 – Repossession — Discharge of Agreement in Absence of Resale
If there is no resale of repossessed goods under § 12-626 of this subtitle, all obligations of the buyer under the agreement shall be discharged, and the holder may retain the goods as his own property without obligation to account to the buyer.
Section 12-612 – Consumer Goods — Prepayment
(a) Notwithstanding the provisions of § 12-601(k) of this subtitle, for the purposes of this section, “goods” means any personal property bought for use primarily for personal, family, or household purposes regardless of the cash price of the goods. (b) A buyer may prepay at any time, without penalty, all or part of the outstanding balance payable […]
Section 12-613 – Insurance
(a) The provisions of this section are in addition to and not in substitution for any other applicable provision of statutory law. (b) If a holder undertakes at the expense of the buyer to sell, purchase, or supply insurance on the goods sold, the amount charged the buyer for the insurance may not exceed the lesser of: […]
Section 12-614 – Additional Charges
(a) Except as provided in subsection (b) of this section, a holder may not directly or indirectly contract for, charge, or receive from a buyer or a surety for a buyer on account of or in connection with any agreement, any charge or amount for the extension of credit, interest, fees, commissions, delinquency, collection, repossession, and […]
Section 12-615 – Refund of Deposit
(a) (1) If, in addition to any down payment, a buyer is required under an installment sale agreement to make a payment to a seller before the seller is obligated to deliver the goods sold, the buyer may cancel the installment sale agreement before delivery or tender of the goods by the seller. (2) Notwithstanding any provision of […]