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§ 14-4203. Statement to prospective consumer borrower; form; contents

West's Annotated Code of MarylandCommercial LawEffective: October 1, 2020

West's Annotated Code of Maryland
Commercial Law
Title 14. Miscellaneous Consumer Protection Provisions
Subtitle 42. Mobile Home Retail Sales (Refs & Annos)
Effective: October 1, 2020
MD Code, Commercial Law, § 14-4203
§ 14-4203. Statement to prospective consumer borrower; form; contents
Currentness
(a)(1) The statement required under § 14-4202(b)(3) of this subtitle shall be on a form prescribed by the Commissioner by regulation.
(2) If the form prescribed by the Commissioner is included in other documents provided by the mobile home retailer to a prospective consumer borrower, the form shall be conspicuous, such as through the use of a different font or separated with a box around it.
(b) The statement required under § 14-4202(b)(3) of this subtitle shall include:
(1) A disclosure that describes any corporate affiliation between the mobile home retailer and a financing source about which the mobile home retailer provides information to the prospective consumer borrower;
(2) A disclosure that the prospective consumer borrower may obtain financing from any lender and is not required to obtain financing from a lender suggested by the mobile home retailer; and
(3) Information regarding the rights of a prospective consumer borrower under this subtitle and the procedure for filing a complaint with the Commissioner.
(c) The mobile home retailer shall provide the statement required under § 14-4202(b)(3) of this subtitle:
(1) To a prospective consumer borrower at the time the mobile home retailer provides information to the prospective consumer borrower regarding financing or potentially available lenders; and
(2) By posting the statement in a prominent location at all of the mobile home retailer's places of business and on the mobile home retailer's website, if any.

Credits

Added by Acts 2020, c. 48, § 1, eff. Oct. 1, 2020; Acts 2020, c. 49, § 1, eff. Oct. 1, 2020.
MD Code, Commercial Law, § 14-4203, MD COML § 14-4203
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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