776                             LAWS OF MARYLAND                      [CH. 389

title "Sales and Notices", subtitle "Retail Installment Sales", new
Sections 132A and 132B to follow immediately after Section 132
thereof, and new Section 137A to follow immediately after Section
137 thereof, relating to maximum finance charges and other require-
ments in connection with some retail installment sale transactions,
excluding sales of motor vehicles; to repeal Section 149 (a) of the
said Article and subtitle of the Code (1965 Replacement Volume),
and to enact a new Section 149 (a) in lieu thereof, to stand in the
place of the Section 149 (a) so repealed; and to add new Sections
153A through 153H, inclusive, to the said Article and subtitle of
the Code (1965 Replacement Volume), to follow immediately after
Section 153 thereof, and to be under the new subtitle "Retail Credit
Accounts Law", regulating maximum service charges under some
installment sales , PROVIDING PENALTIES FOR VIOLATIONS
OF THIS ACT, in connection with which no title or security
interest is retained by the seller, and requiring certain informa-
tion to be furnished in connection with such sales, and relating
generally to installment sales of goods in this State.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Sections 132A, 132B, and 137A be and they are hereby
added to Article 83 of the Annotated Code of Maryland (1965 Re-
placement Volume), title "Sales and Notices", subtitle "Retail In-
stallment Sales", new Sections 132A and 132B to follow immediately
after Section 132 thereof, and new Section 137A to follow imme-
diately after Section 137 thereof, and that Section 149 (a) of the
said Article and subtitle of the Code (1965 Replacement Volume),
be and it is hereby repealed and a new Section 149 (a) be and it is
hereby enacted in lieu thereof, to stand in the place of the Section
149 (a) so repealed; and that new Sections 153A through 153H,
inclusive, be and they are hereby added to the said Article and sub-
title of the Code (1965 Replacement Volume), to follow immediately
after Section 153 thereof, and to be under the new subtitle "Retail
Credit Accounts Law", and all to read as follows:

132 A.

(a) Notwithstanding the provisions of any other law, the finance
charge included in an installment sale agreement (including any add-
on contract of the type referred to in Section 137 of this subtitle),
relating to the retail sale of goods, bought for use primarily for per-
sonal, family or household purposes, as distinguished from industrial,
commercial or agricultural purposes, and excepting motor vehicles
as defined in Section 132 (f) of this Article, shall not exceed the
following schedule:

(1)  On so much of the principal balance as does not exceed One
Thousand Dollars ($1,000.00), Ten Dollars ($10.00) TWELVE DOL-
LARS ($12.00) per One Hundred Dollars ($100.00) per annum.

(2)  If the principal balance exceeds One Thousand Dollars
($1,000.00) on so much of the principal balance as exceeds One
Thousand Dollars ($1,000.00), Eight Dollars ($8.00) TEN DOL-
LARS ($10.00) per One Hundred Dollars ($100.00) per annum.

(3) Ten Dollars ($10.00) if the finance charge so computed is less
than Ten Dollars ($10.00) but if the due date of the last installment
of the installment sale agreement is eight (8) months or less after
its effective date, Eight Dollars ($8.00).