MARVIN MANDEL, Governor                                  2895

CHAPTER 866
(House Bill 32)
AN ACT concerning

Sales and Notices — Retail Credit Accounts Law

FOR the purpose of changing the date when a service
charge is computed on a retail credit account in a
certain case.

BY repealing and re-enacting, with amendments.

Article 83 - Sales and Notices

Section 153D(b)(5) and (c) (1)

Annotated Code of Maryland

(1969 Replacement Volume and 1973 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That [[Section]] Sections 153D(b)(5) and (c)(1)
of Article 83 - Sales and Notices, of the Annotated Code
of Maryland (1969 Replacement Volume and 1973 Supplement)
be and [[it is]] they are hereby repealed and re-enacted,
with amendments, to read as follows:

Article 83 — Sales and Notices
153D.

(b)(5) Such service charge shall be computed on the
unpaid balance due in connection with each purchase under
a retail credit account of the type covered by this
subsection (b) from the date of such purchase (when such
unpaid balance is payable in successive monthly payments
substantially equal in amount) until the due date of the
final installment, notwithstanding that the balance
thereof is payable in installments. IF THE DATE OF

PERFORMANCE OR [[ATTEMPTED]] DELIVERY OF__AN ITEM 09

SERVICE WHOSE COST TO THE PURCHASER IS GREATER THAN $200
IS MORE THAN [[FIVE]] TEN DAYS FROM THE DATE OF PURCHASE,
[[THEN]] THE SERVICE CHARGE SHALL BE COMPUTED FROM THE
DATE OF PERFORMANCE OR [[ATTEMPTED]] DELIVERY.

(c)(1) On so much of the outstanding balance as
does not exceed five hundred dollars ($500.00), one and

one—half percent [1 1/2%) per month; if the outstanding

balance is more than five hundred dollars ($500.00), one

percent (1%) per month on the excess over five hundred

dollars ($500.00) of the outstanding balance. IF THE

DATE OF PERFORMANCE OR [[ATTEMPTED]] DELIVERY OF AN ITEM

OR SERVICE WHOSE COST TO THE PURCHASER IS GREATER THAN