190

LAWS OF MARYLAND

[Ch. 49

HOLDER IMMEDIATELY SHALL BE REMITTED TO THE BUYER OR
CREDITED AGAINST ANY AMOUNT THEN DUE BY THE BUYER TO THE
HOLDER UNDER THE AGREEMENT.

(E)   DEDUCTION OF INSURANCE OVERCHARGE.

(1)    IF THE AMOUNT CHARGED FOR INSURANCE
EXCEEDS THE AMOUNT AUTHORIZED BY SUBSECTION (B) OF THIS
SECTION, THE BUYER MAY DEDUCT THE OVERCHARGE FROM THE
AMOUNT OF ANY PAYMENT.

(2)     IF THE BUYER DOES NOT DEDUCT THE
OVERCHARGE FROM HIS PAYMENT, THE HOLDER SHALL CREDIT THE
AMOUNT OF THE OVERCHARGE AGAINST THE LAST INSTALLMENT OR
INSTALLMENTS UNDER THE AGREEMENT.

(F)   DEDUCTION OF FULL INSURANCE CHARGE.

(1)   IF THE SELLER OR HIS ASSIGNEE DOES NOT
COMPLY WITH THE REQUIREMENTS OF SUBSECTION (C) OF THIS
SECTION, THE BUYER MAY DEDUCT THE FULL AMOUNT CHARGED TO
HIM FOR THE INSURANCE FROM THE AMOUNT OF ANY PAYMENT.

(2)    IF THE BUYER DOES NOT DEDUCT THE AMOUNT
CHARGED FROM HIS PAYMENT, THE HOLDER SHALL CREDIT THE
AMOUNT CHARGED AGAINST THE LAST INSTALLMENT OR
INSTALLMENTS UNDER THE AGREEMENT.

REVISOR'S NOTE: This section presently appears as
Art. 83, §131.

In this section, the defined term "holder" is
substituted for "seller or sales finance
company" for purposes of brevity and
conformity.

In subsection (c)(2) of this section, the
defined term "agreement" is substituted for
"instrument" for purposes of conformity.

The only other changes are in style.

12-614. ADDITIONAL CHARGES.

(A) ADDITIONAL CHARGES PROHIBITED.

EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS
SECTION, A HOLDER MAY NOT DIRECTLY OR INDIRECTLY CONTRACT
FOR, CHARGE, OR RECEIVE FROM A BUYER OF A SURETY FOR A
BUYER ON ACCOUNT OF OR IN CONNECTION WITH ANY AGREEMENT,
ANY CHARGE OR AMOUNT FOR THE EXTENSION OF CREDIT,
INTEREST, FEES, COMMISSIONS, DELINQUENCY, COLLECTION,
REPOSSESSION, AND FORECLOSURE OR OTHERWISE.