clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
Session Laws, 1954
Volume 604, Page 260   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

260 LAWS OF MARYLAND [CH. 80


[Strike-through, see page image for text]


D) IF ANY SELLER OR HOLDER OF THE IN-
STALLMENT SALES AGREEMENT FOR A MOTOR
VEHICLE SHALL COLLECT A FINANCE CHARGE ON
A MOTOR VEHICLE GREATER IN AMOUNT THAN
THE MAXIMUM SPECIFIED IN THIS SECTION, OR
A SERVICE CHARGE, THE SELLER SHALL FORFEIT
TO THE BUYER ALL INTEREST AND FINANCE
CHARGES PAID OR PAYABLE UNDER SAID AGREE-
MENT. UNLESS THE OVERCHARGE RESULTS FROM
A BONA FIDE ERROR IN COMPUTATION WHICH IS
CORRECTED WITHIN SIXTY DAYS FROM THE DATE
OF THE INSTALLMENT AGREEMENT.

(e) If any seller or holder of the instalment sales agree-
ment for a motor vehicle shall collect from the buyer a
charge or amount for any insurance premium or coverage
on any motor vehicle covered by an instalment sale agree-
ment, greater in amount than may be charged or collected
according to the rates approved for motor vehicles by the
State Insurance Department for the insurer carrying the
risk, UNLESS THE OVERCHARGE RESULTS FROM A
BONA FIDE ERROR IN COMPUTATION WHICH IS
CORRECTED WITHIN SIXTY DAYS FROM THE DATE
OF THE INSTALLMENT AGREEMENT, the buyer in
his discretion may treat the instalment sale agreement as
having been violated in respect to the provisions for insur-
ance coverage, for which violation the seller or holder shall
pay to the buyer in liquidated damages a sum equal to ten
times the amount of the overcharge, ; AND PROVIDED
FURTHER, THAT UNDER THE SAID INSTALLMENT
SALES AGREEMENT, THE SALE OF INSURANCE
SHALL BE LIMITED TO


[Strike-through, see page image for text]


AUTOMOBILE BODILY INJURY AND PROP-
ERTY DAMAGE LIABILITY INSURANCE, AUTOMO-
BILE PHYSICAL DAMAGE INSURANCE, LIFE AND
ACCIDENT COVERAGES AND MEDICAL REIM-
BURSEMENT.

(f) The term "motor vehicle", as used in this section,
shall be defined as in Article 66 1/2of the Annotated Code,
title "Motor Vehicles." BUT SHALL NOT BE SUBJECT
TO THE DEFINITION OF GOODS IN SECTION 139
OF THIS SUB-TITLE.


 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1954
Volume 604, Page 260   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 10, 2023
Maryland State Archives