MARVIN MANDEL, Governor

499

Art. 83, §140.

It has been revised to clarify who may make
the required requests, and that the 15—day
period is to ran from the date the holder
receives the request. This last conforms to
the similar provisions of §12—621.

The references to "guarantor" and "guaranty"
are deleted as unnecessary in light of the
definition of "surety" in §12—601.

In subsection (a)(3) of this section, the less
specific term "instruments" is substituted for
"documents of title."

The only other changes are in style.

12-623. DELINQUENCY. CHARGE; ATTORNEY'S FEES AND COURT
COSTS.

(A)       DELINQUENCY CHARGE.

IF THE AGREEMENT SO PROVIDES, THE HOLDER OF THE
AGREEMENT MAY COLLECT A DELINQUENCY OR COLLECTION CHARGE
OF THE LESSER OF $5 OR 5 PERCENT OF THE AMOUNT OF ANY
PAYMENT IN DEFAULT, IF THE DEFAULT HAS CONTINUED FOR AT
LEAST 10 DAYS.

(B)   ATTORNEY'S FEES AND COURT COSTS.

(1)    IN ADDITION TO THE DELINQUENCY OR
COLLECTION CHARGE, THE AGREEMENT MAY PROVIDE FOR THE
PAYMENT OF:

(i) ATTORNEY'S FEES NOT EXCEEDING 15 PERCENT
OF THE AMOUNT DUE AND PAYABLE UNDER THE AGREEMENT; AND

(ii) COURT COSTS.

(2)         ATTORNEY'S FEES MAY BE COLLECTED ONLY IF
THE AGREEMENT IS REFERRED FOR COLLECTION TO AN ATTORNEY
WHO IS NOT A SALARIED EMPLOYEE OF THE HOLDER.

REVISOR'S NOTE: This section presently appears as
Art. 83, §145.

The only changes are in style.

12-624. REPOSSESSION - HOLDER'S RIGHT TO REPOSSESS.

(A) WHEN GOODS MAY BE REPOSSESSED.

THE HOLDER MAY REPOSSESS GOODS SOLD UNDER AN