§ 9-625. Remedies for secured party's failure to comply with title
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 9-625
§ 9-625. Remedies for secured party's failure to comply with title
(2) If the collateral is consumer goods, a person that was a debtor or a secondary obligor at the time a secured party failed to comply with this part may recover for that failure in any event an amount not less than the credit service charge plus 10 percent of the principal amount of the obligation or the time-price differential plus 10 percent of the cash price.
(d) A debtor whose deficiency is eliminated under § 9-626 may recover damages for the loss of any surplus. However, a debtor or secondary obligor whose deficiency is eliminated or reduced under § 9-626 may not otherwise recover under subsection (b) for noncompliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance.
Credits
Added by Acts 1999, c. 282, § 2, eff. July 1, 2001. Amended by Acts 2001, c. 408, § 2, eff. July 1, 2001.
MD Code, Commercial Law, § 9-625, MD COML § 9-625
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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