456

LAWS OF MARYLAND

[Ch. 49

(i) THE APPLICATION FORM USED BY THE SELLER
OR FINANCIAL INSTITUTION; AND

(ii) A COPY OF EITHER THE APPLICATION FORM OR
THE CONFIRMATION DELIVERED OR MAILED TO THE BUYER WHEN
THE RETAIL CREDIT ACCOUNT IS ESTABLISHED.

(F) INFORMATION TO BE FURNISHED BEFORE FIRST
PAYMENT AND AFTER EACH PURCHASE.

BEFORE THE FIRST PAYMENT ON AN ACCOUNT IS DUE,    OTHER

THAN ANY DOWN PAYMENT, AND WITHIN 40 DATS AFTER      EACH

PURCHASE, THE HOLDER OF A RETAIL CREDIT ACCOUNT    SHALL
INFORM THE BUYER IN WRITING OF:

(1)   THE CASH SALE PRICE OF THE GOODS OR
SERVICES PURCHASED;

(2)   THE AMOUNT OF ANY DOWN PAYMENT;

(3)    A GENERAL DESCRIPTION OF THE TYPE OF
GOODS OR SERVICES AND THE DATE OF EACH PURCHASE;

(4)   IF THE ACCOUNT IS A CLOSED END ACCOUNT:
(i) THE AMOUNT OF THE FINANCE CHARGE;

(ii) THE TIME SALE PRICE;

(iii) THE AMOUNT OF EACH INSTALLMENT DUE,
EXPRESSED IN DOLLARS; AND

(iv) THE [[DATE]] TIME OR PERIOD OF THE
PAYMENT OF EACH INSTALLMENT; AND

(5)   IF THE ACCOUNT IS AN OPEN END ACCOUNT:

(i) THE AMOUNT OR THE RATE OF THE FINANCE
CHARGE ON THE OUTSTANDING BALANCE; AND

(ii) THE METHOD OF DETERMINING THE
OUTSTANDING BALANCE PURSUANT TO §12-506(C).

(G) INFORMATION TO BE FURNISHED AFTER EACH PAYMENT.

UNLESS THE BUYER PREVIOUSLY RECEIVED WRITTEN NOTICE
BY COUPON, BOOK, OR OTHERWISE OF THE AMOUNT OF THE
PAYMENT AND THE AMOUNT OF THE UNPAID BALANCE AFTER THE
PAYMENT, THE HOLDER OF A RETAIL CREDIT ACCOUNT SHALL
INFORM THE BUYER IN WRITING, WITHIN 40 DAYS AFTER EACH
PAYMENT, OF:

(1) THE TOTAL AMOUNT REMAINING DUE TO THE
SELLER; AND