MARVIN MANDEL, Governor

3361

to inform buyers annually [[of the total finance
charges paid]] upon request of the total finance
charges assessed during the preceding calendar year.

BY renumbering

Article — Commercial Law

Section 12-503(h) and 12-503(i), respectively,

to be Section 12-503(i) and 12-503(j), respectively,

Annotated Code of Maryland

(As enacted by Chapter ___ (HB 26) of the Acts of

the 1975 General Assembly)

BY adding to

Article — Commercial Law

Section 12-503(h) [[and 12-620.1]]

Annotated Code of Maryland

(As enacted by Chapter ____(HB 26) of the Acts of

the 1975 General Assembly)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 12-503(h) and 12-503(i),
respectively, of Article — Commercial Law, of the

Annotated Code of Maryland (As enacted by Chapter ____

(HB 26) of the Acts of the 1975 General Assembly) be and
they are hereby renumbered to be Sections 12—503(i) and
12-503(j), respectively.

SECTION 2. AND BE IT FURTHER ENACTED, That new
[[Sections 12-503(h) and 12-620.1 be and they are]]
Section 12—503(h) be and it is hereby added to Article —
Commercial Law, of the Annotated Code of Maryland (As

enacted by Chapter ____(HB 26) of the Acts of the 1975

General Assembly) to read as follows:

Article — Commercial Law

12-503.

(H) INFORMATION TO BE FURNISHED ANNUALLY.

[[ON OR BEFORE FEBRUARY 1 OF EACH YEAR, THE HOLDER
OF A RETAIL CREDIT ACCOUNT SHALL INFORM THE BUYER IN
WRITING OF THE TOTAL AMOUNT OF FINANCE CHARGES PAID BY OR
ON BEHALF OF THE BUYER DURING THE PRECEDING CALENDAR
YEAR.

12-620.1. ANNUAL STATEMENT OF FINANCE CHARGES PAID.