§ 12-607. Proscribed terms
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 12-607
§ 12-607. Proscribed terms
(3) A schedule of payments under which any installment, except the down payment, is more than double the average of all other installments, excluding the down payment, or under which the interval between any consecutive installments is less than one-half the average of all other intervals, unless the buyer is given an absolute right, on default in any of the excess or irregular installments, to have the schedule of unpaid installments, including that in default, revised to conform in both amounts and intervals to the average of all preceding installments and intervals;
Credits
Added by Acts 1975, c. 49, § 3, eff. July 1, 1975.
Formerly Art. 83, § 130.
MD Code, Commercial Law, § 12-607, MD COML § 12-607
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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