MARVIN MANDEL, Governor

509

(1)    EXCEPT AS PROVIDED IN PARAGRAPH (2) OF
THIS SUBSECTION, ANY RENEWAL, EXTENSION, OR REFUND MADE
UNDER §12-632 SHALL BE BY A WRITTEN AGREEMENT SIGNED BY
EACH PARTY.

(2)   IF AN EXTENSION IS GRANTED WITHOUT ANY
ADDITIONAL CHARGE, THE AGREEMENT NEED BE SIGNED ONLY BY
THE SALES FINANCE COMPANY.

(B) DELIVERY OF COPY TO BUYER.

(1)   AT THE TIME A RENEWAL, EXTENSION, OR
REFUND IS MADE, THE SALES FINANCE COMPANY SHALL DELIVER
TO THE BUYER AN EXACT COPY OF THE AGREEMENT.

(2)   THE AGREEMENT SHALL:

(i) STATE THE NAME AND POST OFFICE ADDRESS OF
EACH PARTY;

(ii) IDENTIFY THE PRIOR AGREEMENT TO WHICH IT
RELATES;

(iii) DESCRIBE THE GOODS;

(iv) DESCRIBE ANY SECURITY INTEREST OR
COLLATERAL SECURITY WHICH WAS RESERVED OR TAKEN TO SECURE
THE PRIOR AGREEMENT AND WHICH IS RETAINED TO SECURE THE
RENEWAL, EXTENSION, OR REFUND; AND

(V) STATE THE AMOUNT OF THE EXTENDED
PRINCIPAL, THE AGREED RATE OF CHARGE, THE NUMBER OF
SCHEDULED INSTALLMENTS, AND THE TIME AND AMOUNT OF EACH
INSTALLMENT.

REVISOR'S NOTE: This section presently appears as
Art. 83, §161 (c).

In this section, for purposes of clarity, the
defined term "agreement" is substituted for
"instrument."

In subsection (a)(1) of this section,
reference to the "respective representatives"
of the parties is deleted as unnecessary since
the action of a representative, i.e., an
agent, is, of course, the action of the
principal.

In subsection (b)(1)(ii) and (iv) of this
section, the word "prior" is inserted before
"agreement" for the purpose of clarity.

In subsection (b)(1)(iii) of this section, the