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§ 12-502. Application

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 12. Credit Regulations
Subtitle 5. Retail Credit Accounts (Refs & Annos)
MD Code, Commercial Law, § 12-502
§ 12-502. Application
Currentness
(a) Each retail credit account established after May 31, 1967 shall comply with this subtitle.
(b)(1) Notwithstanding any situs of contract specified in it, a retail credit account is made in this State and is subject to this subtitle if:
(i) The seller offers or agrees in this State to sell to a resident buyer of this State; or
(ii) The resident buyer of this State accepts or makes the offer in this State to buy.
(2) A verbal or written solicitation or communication to sell that originates outside the State but that is forwarded to and received in the State by a resident buyer of this State shall be construed as an offer or agreement to sell in this State.
(3) A verbal or written solicitation to buy that originates in this State from a resident buyer of this State and that is forwarded to and received by a retail seller outside this State shall be construed as an acceptance or offer to buy in this State.
(c) This subtitle does not apply to an installment sale agreement, as defined in § 12-601 of this title, relating to goods, as defined in that section, regardless of the cash sale price of the goods.

Credits

Added by Acts 1975, c. 49, § 3, eff. July 1, 1975. Amended by Acts 1977, c. 119.
Formerly Art. 83, §§ 153B, 153C.
MD Code, Commercial Law, § 12-502, MD COML § 12-502
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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