1204                           LAWS OF MARYLAND                     [CH. 496

153A.

(h) "Retail credit account" means any agreement or transaction
for the retail sale of goods or services, negotiated or entered into,
pursuant to which [a seller established a time sale price.] a time
sale price is established; and includes credit card financing by a
financial institution.

153C.

(b)    A retail credit account may be established by the seller or
financial institution upon the request of a buyer or prospective buyer.
Each such retail credit account agreement shall be in writing and
signed by the buyer OR, THE SELLER OR FINANCIAL INSTITU-
TION SHALL HAVE MADE A REASONABLE ATTEMPT TO
OBTAIN THE SIGNATURE OF THE BUYER TO SUCH A WRIT-
TEN AGREEMENT. A legend stating that service charges will be
made, in amounts or at rates not in excess of those permitted by
law, shall be printed in type no smaller than elite typewriter char-
acters, both in the application form used by the seller or financial
institution and either in a copy thereof or in the confirmation
handed or mailed to the prospective buyer when the retail credit
account is established.

(c)    At the time a seller or financial institution establishes a retail
credit account for the use of the buyer, the seller or financial in-
stitution shall confirm this fact to the buyer or prospective buyer in
writing. Such confirmation shall contain a clear and understandable
statement of the amount or the rate of the service charge. Such con-
firmation shall also contain a legend that the buyer may at any time
pay his entire balance without incurring any additional charge for
prepayment. Such confirmation shall be in type no smaller than
elite typewriter characters. If no copy of the confirmation is retained
by the seller [,] or financial institution, a notation in the permanent
record of the seller or financial institution showing that such con-
firmation was mailed, and the date of mailing, shall be admissible as
evidence of such mailing.

(d)    The seller or holder of a retail credit account shall inform
the buyer, in writing, before the first payment, other than the down
payment, if any, is due, and in any event within forty (40) days
following each purchase, the following:

(1)    The cash sale price of such purchase.

(2)    The amount, if any, of the down payment by the buyer.

(3)     [A brief description of the goods or services.] A general
description of the type of goods or services, together with the date of
each purchase.

(4)    When the service charge is assessed on the original unpaid
balance of the purchase price or prices, in accordance with the pro-
visions of Section 153D(b) hereof, then, in addition, the amount of
the service charge, the time sales price, the amount of each install-
ment expressed in dollars, and the times or periods of payment
thereof.

(5)    When the service charge is assessed on the [outstanding]
unpaid balances from month to month in accordance with the pro-