MARVIN MANDEL, Governor

493

out," is deleted as unnecessary.

The only other changes are in style.

See, also, §9—407 of this article which
imposes criminal penalties on a creditor who
charges a fee for filing an instrument and
fails to file it within 30 days or, if not
filed, to return the fee to the debtor.

12-617. PAYMENTS AND RECEIPTS.

(A)   RECEIPT FOR PAYMENT REQUIRED.

(1) IF A PAYMENT IS MADE ON ACCOUNT OF AN
AGREEMENT, THE PERSON RECEIVING THE PAYMENT SHALL GIVE
THE BUYER ON HIS REQUEST, OR, IF PAYMENT IS MADE IN CASH,
WITHOUT REQUEST, A COMPLETE WRITTEN RECEIPT FOR THE
PAYMENT.

(2) IF THE BUYER SPECIFIES THAT THE PAYMENT
IS MADE ON ONE OF SEVERAL OBLIGATIONS, THE RECEIPT SHALL
SO INDICATE. HOWEVER, THIS PROVISION DOES NOT AFFECT THE
ALLOCATION OF PAYMENTS UNDER AN ADD-ON CONTRACT PURSUANT
TO §12-618 OF THIS SUBTITLE.

(B)   PAYMENT IN EVENT OF ASSIGNMENTS.

(1)   UNLESS A WRITTEN NOTICE OF ACTUAL OR
INTENDED ASSIGNMENT OF AN AGREEMENT IS GIVEN TO THE
BUYER, HE MAY PAY OR TENDER ANY AMOUNT DUE UNDER THE
AGREEMENT OR GIVE ANY NOTICE REQUIRED BY THE AGREEMENT OR
THIS SUBTITLE TO THE LAST KNOWN HOLDER OF THE AGREEMENT.

(2)   A PAYMENT, TENDER, OR NOTICE SO GIVEN IS
BINDING ON ANY SUBSEQUENT HOLDER OR ASSIGNEE AS FULLY AS
IF MADE TO HIM.

REVISOR'S NOTE: This section presently appears as
Art. 83, §136.

The only changes are in style.

12-618. ADD-ON CONTRACT.

(A) DEFINITION.

IN THIS SECTION, "ADD-ON CONTRACT" MEANS AN
INSTALLMENT SALE AGREEMENT WHICH ALLOWS THE INCLUSION IN
IT OF ADDITIONAL GOODS SUBSEQUENTLY PURCHASED AND UNDER
WHICH THE AMOUNT DUE ON THE SUBSEQUENT PURCHASE IS
COMBINED WITH AN UNPAID BALANCE ON ANY PRIOR PURCHASE SO
AS TO PERMIT THE SELLER TO RETAIN A SECURITY INTEREST IN
ALL GOODS UNDER THAT AGREEMENT.