Home Table of Contents

§ 12-1107. Receipt; written statement of account

West's Annotated Code of MarylandCommercial LawEffective: October 1, 2012

West's Annotated Code of Maryland
Commercial Law
Title 12. Credit Regulations
Subtitle 11. Maryland Rental-Purchase Agreement Act (Refs & Annos)
Effective: October 1, 2012
MD Code, Commercial Law, § 12-1107
§ 12-1107. Receipt; written statement of account
Currentness
(a) A lessor shall provide the consumer with a written receipt for each payment under a rental-purchase agreement made in person by cash or money order, or, if the payment is made in any other form, on request.
(b) The written receipt shall contain the:
(1) Total amount paid;
(2) Total amount due that week or month; and
(3) Total remaining rental payments necessary to acquire ownership of the item.
(c) The lessor shall provide the consumer with a written statement of account within 3 days after the consumer's request.

Credits

Added by Acts 1989, c. 620, § 1, eff. Sept. 1, 1989. Amended by Acts 2012, c. 575, § 1, eff. Oct. 1, 2012; Acts 2012, c. 576, § 1, eff. Oct. 1, 2012.
MD Code, Commercial Law, § 12-1107, MD COML § 12-1107
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.
End of Document