MARVIN MANDEL, Governor

455

(C) ALIMONY TO BE CONSIDERED.

FOR THE PURPOSE OF CONSIDERING THE ELIGIBILITY OF A
BUYER FOR AN EXTENSION OF CREDIT, A SELLER OR FINANCIAL
INSTITUTION SHALL CONSIDER ALIMONY AWARDED BY A COURT AS
INCOME TO THE BUYER.

(D) CONFIRMATION OF ACCOUNT.

(1) IF A SELLER OR FINANCIAL INSTITUTION
ESTABLISHES AN ACCOUNT FOR THE USE OF A BUYER, THE SELLER
OR FINANCIAL INSTITUTION SHALL CONFIRM THE FACT TO THE
BUYER IN WRITING. THE CONFIRMATION SHALL BE IN TYPE NO
SMALLER THAN ELITE TYPEWRITER CHARACTERS AND SHALL
CONTAIN:

(1) A CLEAR AND UNDERSTANDABLE STATEMENT OF
THE AMOUNT OR THE RATE OF THE FINANCE CHARGE;

(ii) A LEGEND THAT THE BUYER MAY PAY AT ANY
TIME THE ENTIRE BALANCE WITHOUT INCURRING ANY ADDITIONAL
CHARGE FOR PREPAYMENT;

(iii) A STATEMENT WHICH ADVISES THE BUYER OF
HIS RIGHT UNDER §12-510 OF THIS SUBTITLE TO AN ANSWER TO
A WRITTEN INQUIRY CONCERNING THE STATUS OF HIS ACCOUNT;
AND

(iv) UNLESS SET OUT IN A COPY OF THE
APPLICATION FORM DELIVERED TO THE BUYER, THE LEGEND
REQUIRED BY SUBSECTION (B) (2) OF THIS SECTION.

(2) IF NO COPY OF THE CONFIRMATION IS
RETAINED BY THE SELLER OR FINANCIAL INSTITUTION, A
NOTATION IN THE PERMANENT RECORDS OF THE SELLER OR
FINANCIAL INSTITUTION WHICH SHOWS THAT THE CONFIRMATION
WAS MAILED AND THE DATE OF MAILING IS ADMISSIBLE AS
EVIDENCE OF THE MAILING.

(E) FORM AND CONTENT OF AGREEMENT.

(1)    A RETAIL CREDIT ACCOUNT AGREEMENT SHALL
BE IN WRITING AND EITHER:

(i) SIGNED BY THE BUYER; OR

(ii) THE SELLER OR FINANCIAL INSTITUTION
SHALL HAVE MADE A REASONABLE ATTEMPT TO OBTAIN THE
SIGNATURE OF THE BUYER TO THE AGREEMENT.

(2)   A LEGEND STATING THAT FINANCE 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 CHARACTERS IN BOTH: