reglab/housing_qa huggingface dataset:
MD. Commercial Law Code Ann. §  12-618 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-618 - Add-on Contract

    (a)    In this section, “add-on contract” means an installment sale agreement which allows the inclusion in it of additional goods subsequently purchased and under which the amount due on the subsequent purchase is combined with an unpaid balance on any prior purchase so as to permit the seller to retain a security interest in all goods under that agreement.    (b)    If goods are purchased under an add-on contract, the seller shall deliver to the buyer and attach to the add-on contract, at the time of the additional purchase, a statement which:        (1)    Contains all information regarding the additional purchase required by § 12-606 of this subtitle; and        (2)    Shows:            (i)    The amount due on the installment sale agreement immediately before the additional purchase;            (ii)    The amount due after the additional purchase;            (iii)    The payments agreed to be made subsequently; and            (iv)    The number of additional months required to complete the payments.    (c)    (1)    If a payment is made on an add-on contract after an additional purchase is added, the payment is considered as applied to each of the separate purchases in the same proportion which the cash price of each purchase bears to the total cash price of all goods in which the seller retains a security interest.        (2)    Before repossessing or attempting to repossess any goods under an add-on contract, the seller shall apply all payments made to him by the buyer in the manner provided by paragraph (1) of this subsection.        (3)    If the amount due on any separate purchase is paid fully, the goods paid for are the absolute property of the buyer and may not be subject to repossession for any subsequent default on the agreement.    (d)    The buyer under an add-on contract may prepay at any time the amount due on any of the separate purchases in the manner provided by § 12-620 of this subtitle.    (e)    If the goods subject to an add-on contract are repossessed, the buyer may redeem any of the separate purchases by payment of the amount due on that purchase alone.
MD. Commercial Law Code Ann. §  12-619 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-619 - Extension of Due Date or Deferral of Payments

    (a)    The holder of an installment sale agreement on which the finance charge is computed in advance may:        (1)    By agreement with the buyer, extend the scheduled due date or defer the scheduled payment of all or part of the installments payable under it; and        (2)    Charge the buyer an extension or deferral charge.    (b)    The extension or deferral charge may not exceed an amount equal to 1 percent per month of the amount extended or deferred for the period of extension or deferral.    (c)    The period of extension or deferral may not exceed the period from the date when the extended or deferred amount would have been payable in the absence of the extension or deferral to the date when the amount is made payable under the agreement of extension or deferral.
MD. Commercial Law Code Ann. §  12-620 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-620 - Prepayment

    (a)    Notwithstanding the provisions of § 12-601(k) of this subtitle and any provision of an installment sale agreement to the contrary, a buyer may prepay at any time, without penalty, all or any part of the unpaid time balance payable under the installment sale agreement if such agreement is for the retail sale of personal property purchased primarily for personal, family, or household purposes, regardless of the original price of that personal property.    (b)    (1)    Except as provided in paragraph (2) of this subsection, if the buyer pays the time balance in full before maturity, the holder immediately shall refund to him a portion of the finance charge. The amount of the refund shall be calculated by the actuarial method based on the original schedule of payments.        (2)    If the amount of the credit for prepayment is less than $1, no refund need be made.
MD. Commercial Law Code Ann. §  12-621 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-621 - Statement of Account

    (a)    At any time after execution of an agreement, but not later than one year after the last payment is made under it, the holder shall deliver or mail to the buyer at his last known address, within 10 days after the holder receives a written request from the buyer, a copy of the agreement and a signed statement which sets forth:        (1)    The amount paid by or on behalf of the buyer, and the allocation of the amount between principal obligations and charges, including charges for delinquencies, expenses of repossession, extensions, and refunds;        (2)    Any amount which remains payable, and the allocation of the amount between principal obligations and charges, including charges for delinquencies, expenses of repossessions, extensions, and refunds; and        (3)    The number of installments payable in the future, and the amount and time of each.    (b)    The statement shall be supplied free of charge, except that a fee of 50 cents may be charged for any statement supplied within 60 days after a prior statement was supplied.
MD. Commercial Law Code Ann. §  12-622 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-622 - Cancellation of Contract and Release of Security

    (a)    (1)    After the buyer has paid all sums due under an agreement, the holder shall deliver or mail to the buyer at his last known address, within 15 days after the holder receives a written request from the buyer:        (i)    A signed statement which describes the goods and states that all payments due or to become due under the agreement are paid in full;        (ii)    Good and sufficient instruments to release all security interests in the goods and collateral security owned by the buyer; and        (iii)    Good and sufficient assignments and instruments necessary to vest the buyer with complete evidence of title.        (2)    If the release required by this subsection pertains to a motor vehicle, the release shall be filed electronically with the Motor Vehicle Administration in accordance with § 13–108.1 of the Transportation Article within 5 business days after the holder has received full payment.    (b)    After the buyer has paid all sums due under an agreement, the holder shall deliver or mail to each surety for the buyer and to each person who is the owner of collateral security, within 15 days after the holder receives a request from the buyer, surety, or other person:        (1)    A signed statement which shows that the suretyship is completely discharged; and        (2)    Good and sufficient instruments to release any collateral security owned by that person.    (c)    If the holder fails to comply with the requirements of this section, he shall forfeit $10 to the buyer and is liable for damages.
MD. Commercial Law Code Ann. §  12-623 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-623 - Delinquency Charge; Attorney's Fees and Court Costs

    (a)    If an agreement on which the finance charge is computed in advance so provides, the holder of the agreement may collect a delinquency or collection charge of the lesser of $10 or 5 percent of the amount of any payment in default, if the default has continued for at least 10 days.    (b)    (1)    In addition to the delinquency or collection charge, the agreement may provide for the payment of:            (i)    Attorney’s fees not exceeding 15 percent of the amount due and payable under the agreement; and            (ii)    Court costs.        (2)    Attorney’s fees may be collected only if the agreement is referred for collection to an attorney who is not a salaried employee of the holder.
MD. Commercial Law Code Ann. §  12-624 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-624 - Repossession -- Holder's Right to Repossess

    (a)    The holder may repossess goods sold under an agreement if:        (1)    The buyer is in default in:            (i)    The payment of any sum due under the agreement;            (ii)    The performance of any other condition which the agreement lawfully requires him to perform in order to obtain unencumbered title to the goods; or            (iii)    The performance of any promise the breach of which is expressly made a ground for repossessing the goods; or        (2)    The goods were seized by a police department, bureau, or force.    (b)    (1)    The holder may repossess goods only by:            (i)    Legal process; or            (ii)    Self-help, without use of force.        (2)    Nothing in this section authorizes a violation of criminal law.    (c)    (1)    At least 10 days before he repossesses any goods, the holder may serve a written notice on the buyer of his intention to repossess the goods.        (2)    The notice shall:            (i)    State the default and any period at the end of which the goods will be repossessed; and            (ii)    Briefly state the rights of the buyer in case the goods are repossessed.        (3)    The notice may be delivered to the buyer personally or sent to him at his last known address by registered or certified mail.    (d)    Within five days after he repossesses the goods, the holder shall deliver to the buyer personally or send to him at his last known address by registered or certified mail, a written notice which briefly states:        (1)    The right of the buyer to redeem the goods, and the amount payable for them;        (2)    The rights of the buyer as to a resale, and his liability for a deficiency; and        (3)    The exact location where the goods are stored and the address where any payment is to be made or notice delivered.
MD. Commercial Law Code Ann. §  12-625 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-625 - Repossession -- Buyer's Right of Redemption

    (a)    For 15 days after the holder gives the notice required by § 12-624(d) of this subtitle, the holder shall retain any repossessed goods in the county where the goods were sold to the buyer or were repossessed.    (b)    During the period provided for in subsection (a) of this section, the buyer may:        (1)    Redeem and take possession of the goods; and        (2)    Resume the performance of the agreement.    (c)    To redeem the goods, the buyer shall:        (1)    Tender the amount due under the agreement at the time of redemption, without giving effect to any provision which allows acceleration of any installment otherwise payable after that time;        (2)    Tender performance of any other promise for the breach of which the goods were repossessed; and        (3)    If the discretionary notice provided for in § 12-624(c) of this subtitle was given, pay the actual and reasonable expenses of retaking and storing the goods.    (d)    This section does not apply if the goods were seized by a police department, bureau, or force and the goods were repossessed because of that seizure, in which event, the buyer shall have no right to redeem or take possession, even if the buyer tenders payment of the entire balance due under the agreement.    (e)    Notwithstanding subsections (b) and (c) of this section:        (1)    The holder shall have the right to require the buyer to tender payment of the entire balance due under the agreement if:            (i)    The date of the default in the payments due under the agreement that led to the present repossession occurred within 18 months after the last repossession; or            (ii)    The buyer was guilty of fraudulent conduct, intentionally and wrongfully concealed, removed, damaged, or destroyed the goods, or attempted to do so, and the goods were repossessed because of that conduct.        (2)    Under paragraph (1) of this subsection, the payment by the buyer of the entire balance due under the agreement shall:            (i)    Constitute redemption by the buyer; and            (ii)    Entitle the buyer to take possession of the goods.
MD. Commercial Law Code Ann. §  12-627 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-627 - Repossession -- Discharge of Agreement in Absence of Resale

    If there is no resale of repossessed goods under § 12-626 of this subtitle, all obligations of the buyer under the agreement shall be discharged, and the holder may retain the goods as his own property without obligation to account to the buyer.
MD. Commercial Law Code Ann. §  12-628 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-628 - Promissory Note

    (a)    If, as part of an installment sale, a promissory note is taken by a seller or sales finance company, the note shall refer to the agreement out of which it arises.    (b)    If the note is assigned, it is subject to all defenses which the buyer might have asserted against the seller or sales finance company, except that an acknowledgment by the buyer of delivery of a copy of the agreement pursuant to § 12-605 of this subtitle is conclusive proof of the delivery in favor of an assignee of the note without actual knowledge to the contrary.
MD. Commercial Law Code Ann. §  12-629 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-629 - Waiver by Buyer Invalid

    No act, agreement, or statement of a buyer in an agreement may constitute a valid waiver of any benefit or protection provided to him under this subtitle.
MD. Commercial Law Code Ann. §  12-630 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-630 - Violation of Subtitle

    (a)    Except as provided by subsections (b) and (c) of this section, a holder may not collect or receive any finance, delinquency, or collection charge from the buyer if:        (1)    The agreement does not contain the information required by §§ 12-604 through 12-606 of this subtitle;        (2)    The seller fails to deliver to the buyer a required copy of the agreement; or        (3)    The agreement contains a finance charge in excess of the applicable charge permitted by § 12-609 or § 12-610 of this subtitle.    (b)    Written acknowledgment by the buyer of delivery of a copy of the agreement pursuant to § 12-605 of this subtitle is conclusive proof of the delivery as between the buyer and any assignee of the agreement without actual knowledge to the contrary.    (c)    If the seller or any subsequent holder unintentionally and in good faith fails to comply with any provision of §§ 12-609 through 12-612 of this subtitle, the holder may correct the error within 10 days after:        (1)    He notices it; or        (2)    The buyer notifies him in writing of the error.    (d)    If an instrument contains any provision prohibited by § 12-607 of this subtitle, that provision is void and the holder may not collect or receive from the buyer, in connection with the transaction to which the instrument relates, any finance, delinquency, or collection charge.    (e)    The penalties of this section are in addition to those provided in Part IV of this subtitle or in any other statutory law.
MD. Commercial Law Code Ann. §  12-631 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part II - Installment Sales|Section 12-631 - Jurisdiction of Commissioner of Financial Regulation

    (a)    If a complaint for violation of any provision of Part II of this subtitle is filed with the Commissioner of Financial Regulation, he may investigate the complaint and hold a hearing on it in accordance with § 11-413 of the Financial Institutions Article.    (b)    The Commissioner shall give to the person complained against at least ten days’ written notice of the complaint and the time and place of any hearing. The notice shall be in writing and sent by registered or certified mail to his principal place of business.    (c)    (1)    If, after the hearing, the Commissioner finds that a person has engaged or is engaging in any act or practice prohibited by Part II of this subtitle, he shall order the person to cease and desist from the act or practice.        (2)    The order of the Commissioner shall comply with the Administrative Procedure Act.    (d)    (1)    If no appeal is filed, the order becomes final after expiration of the time allowed by the Administrative Procedure Act for appeals from the Commissioner’s order.        (2)    If an appeal is filed, the order becomes final after final decision of the court affirming the order or dismissing the appeal.    (e)    For the purposes of this section, the Commissioner’s order may not apply to any:        (1)    Incorporated bank, savings institution, or trust company;        (2)    A savings and loan association; or        (3)    A federal credit union or State chartered credit union.
MD. Commercial Law Code Ann. §  12-632 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part III - Sales Finance Companies -- Renewals, Extensions, or Refunds|Section 12-632 - Permitted Transactions

    In connection with an installment sale agreement, a sales finance company may:         (1)    Renew or extend the time for payment of any installment sale agreement or any installment; or        (2)    Refund to the buyer, for subsequent repayment by him, the amount of any installment previously paid.
MD. Commercial Law Code Ann. §  12-633 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part III - Sales Finance Companies -- Renewals, Extensions, or Refunds|Section 12-633 - Written Agreement

    (a)    (1)    Except as provided in paragraph (2) of this subsection, any renewal, extension, or refund made under § 12-632 of this subtitle shall be by a written agreement signed by each party.        (2)    If an extension is granted without any additional charge, the agreement need be signed only by the sales finance company.    (b)    (1)    At the time a renewal, extension, or refund is made, the sales finance company shall deliver to the buyer an exact copy of the agreement.        (2)    The agreement shall:            (i)    State the name and post office address of each party;            (ii)    Identify the prior agreement to which it relates;            (iii)    Describe the goods;            (iv)    Describe any security interest or collateral security which was reserved or taken to secure the prior agreement and which is retained to secure the renewal, extension, or refund; and            (v)    State the amount of the extended principal, the agreed rate of charge, the number of scheduled installments, and the time and amount of each installment.
MD. Commercial Law Code Ann. §  12-634 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part III - Sales Finance Companies -- Renewals, Extensions, or Refunds|Section 12-634 - Permitted Charges

    (a)    A sales finance company may charge the buyer for a renewal, extension, or refund made under § 12-632 of this subtitle, an amount not exceeding an annual effective rate of simple interest, as defined in Subtitle 1 of this title, of 15 percent per annum on the balances outstanding from time to time of the extended principal, from the date of the renewal, extension, or refund to the date set for the final payment.    (b)    The extended principal may not exceed the aggregate amount of the unpaid portion of the time balance under the agreement, any delinquency charges lawfully payable, and any amount of cash actually refunded to the buyer, less a credit for prepayment computed as if the unpaid portion of the time balance had been paid in full at the time of the renewal, extension, or refund.    (c)    Notwithstanding the provisions of subsection (a) of this section, a sales finance company may charge an annual effective rate of simple interest of 24 percent on renewals or extensions on contracts made on or after July 1, 1982, on the balances outstanding from time to time.    (d)    No sales finance company may charge the rates permitted by subsection (c) of this section unless the sales finance company complies with the limitations of §§ 12-610.1 and 12-610.2 of this subtitle and provided that such a renewal or extension agreement may not provide for a balloon payment.
MD. Commercial Law Code Ann. §  12-635 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part III - Sales Finance Companies -- Renewals, Extensions, or Refunds|Section 12-635 - Prepayment

    (a)    A sales finance company shall permit a buyer to prepay in full or in part at any time, without penalty, the outstanding balance payable under a renewal, extension, or refund agreement.    (b)    If a buyer prepays the entire outstanding balance, the sales finance company shall pay or credit to him the unearned portion of the charge.
MD. Commercial Law Code Ann. §  12-636 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 6 - Retail Installment Sales|Part IV - Penalties|Section 12-636 - Penalties

    (a)    Any person who knowingly violates or participates in the violation of any provision of Part II of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $100 for the first offense and not exceeding $500 for any subsequent offense.    (b)    Any person who violates or participates in the violation of any provision of Part III of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $500 or imprisonment not exceeding six months or both.