HERBERT R. O'CONOR, GOVERNOR. 1511

tension charge, or rate, or the security interest, collateral,
terms, or conditions upon which it will make any instalment
agreement or finance the same.

129. Separate Notes. If, as part of an instalment trans-
action, a note is taken by the seller or finance company, such
note shall refer to the instalment agreement out of which it
arises and, in the hands of any subsequent holder, such note
shall be subject to all defenses which the buyer might have
asserted against the seller or finance company, except that an
acknowledgment of delivery of a copy of the agreement by
the buyer pursuant to Section 111 shall be conclusive proof of
such delivery in favor of any assignee of such note without
actual knowledge to the contrary.

130. Waivers by the Buyer. No act, agreement, or state-
ment of any buyer in any instalment agreement, shall con-
stitute a valid waiver of any benefit or protection under the
provisions of this subtitle.

131. Violations of Sections 111, 112, 113. (a) Whenever
an instalment sale agreement does not contain the material re-
quired by Sections 111 and 112 of this sub-title or the seller
fails to deliver a copy to the buyer, no seller or holder of such
agreement shall collect or receive any finance, delinquency or
collection charge from the buyer, except that a written
acknowledgement of the delivery of the contract by the buyer
pursuant to Section 111 shall be conclusive proof of such de-
livery as between the buyer and any assignee of the instalment
agreement, without actual knowledge to the contrary.

(b) Whenever any instrument contains any provision pro-
hibited by Section 113, such provision shall be absolutely void,
and any person taking such instrument in violation of Section
113 shall not collect or receive any finance, delinquency or col-
lection charge from the buyer in connection with the trans-
action to which such instrument relates.

(c) These penalties are in addition to those provided in Sec-
tion 132, or in any other law.

132. Penalties. Any person who knowingly violates or par-
ticipates in the violation of any provision of this sub-title shall
be guilty of a misdemeanor and, upon conviction, shall be fined
not more than one hundred dollars ($100) for the first offense,
or not more than five hundred dollars ($500) for any subse-
quent offense.

133. Application to Existing Contracts. This sub-title
shall not apply to instalment agreements made prior to the
time when it takes effect.