782                              LAWS OF MARYLAND                      [CH. 389

(d)  Retail credit accounts of the type covered by subsection (b)
above may be payable in successive monthly, semi-monthly or weekly
installments.

(e)  A buyer may at any time prepay all or any part of the out-
standing balance payable under a retail credit account of the type
covered by subsection (b) above. If the buyer pays such balance in
full before maturity, the seller or holder shall forthwith refund to
him a portion of the service charge, including the charge provided for
in Section 153D (b) (3). The amount of such refund shall be calcu-
lated by the following method:

The amount of the refund shall represent at least as great a pro-
portion of the total service charge as the sum of the periodical time
sale price or prices after the date of prepayment bears to the sum of
all periodical time sale price or prices, under the schedule of pay-
ments in the original agreement, otherwise known as the Rule of 78.

Where the amount of the credit for anticipation of payment is less
than One Dollar ($1.00), no refund need be made.

In the event of prepayment, the seller, in any case, shall be entitled
to retain a service charge of not less than Six Dollars ($6.00).

153E.

No act, agreement or statement of any buyer shall constitute a
valid waiver of any benefit or protection under the provisions of
this subtitle.

153F.

Whenever a seller shall violate any of the provisions of this subtitle,
no seller or holder of such agreement shall collect or receive any
service charge from the buyer, except that any unintentional failure
(made in good faith) by the seller, to comply with any provision of
Section 153D of this subtitle may be corrected within ten days after
the holder notices such failure or is notified thereof in writing by the
buyer and, if so corrected, neither the seller nor the holder shall be
subject to any penalty under this subtitle.

153G.

Any person who knowingly violates or participates in the violation
of any provisions of this subtitle shall be guilty of a misdemeanor
and, upon conviction, shall be fined not more than One Hundred
Dollars ($100.00) for the first offense, or not more than Five Hun-
dred Dollars ($500.00) for any subsequent offense.

153H.

If any provision of this subtitle or the application thereof to any
person or circumstances is held invalid, such invalidity shall not affect
the remainder of this subtitle or the application of such provision to
other persons or other circumstances.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1967.

Approved April 21, 1967.