Marvin Mandel, Governor                        1111

153C.

(c) At the time a seller or AND/OR financial institution estab-
lishes a retail credit account for the use of the buyer, the seller or
financial institution shall confirm this fact to the buyer or prospective
buyer in writing. Such confirmation shall contain a clear and under-
standable statement of the amount or the rate of the service charge.
Such confirmation shall also contain a legend that the buyer may at
any time pay his entire balance without incurring any additional
charge or prepayment. In addition, the confirmation shall advise the
buyer of his right to an answer to a written inquiry concerning the
status of his account as provided in subsection (g) of this section.
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 confirmation was
mailed, and the date of mailing, shall be admissible as evidence of
such mailing.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1971 JANUARY 1, 1972.

Approved May 17, 1971.

CHAPTER 499
(House Bill 69)

AN ACT to add new Sections 6A and 6B SECTION 6A to Article 77A
of the Annotated Code of Maryland, (1969 Replacement Volume),
title "Higher Education" subtitle "Community Colleges," to follow
immediately after Section 6 thereof, pertaining to the financial
interests of any member of the board of trustees or president of any
community college in contracts or purchases to which the board of
trustees of that college is a party, and providing for the conditions
when sealed bids are required for expenditures of community
colleges.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Sections 6A and 6B be and they are SECTION 6A BE
AND IT IS hereby added to Article 77A of the Annotated Code of
Maryland, (1969 Replacement Volume), title "Higher Education,"
subtitle "Community Colleges," to follow immediately after Section 6
thereof, and to read as follows:

(a) It is unlawful for any member of the board of trustees of
any community college to have a direct or indirect financial interest

in any contract or purchase to which the board is a party, except as

in this subsection set forth. Every member of the board who may

reasonably be expected to know, or who knows that he has a direct

financial interest in any contract or purchase in which the board is or

may be in any way concerned, shall make prompt disclosure of the

fact of the interest to the board. It is unlawful for any member to

6A.