2390                                      LAWS OF MARYLAND                            Ch. 870

Article - Commercial Law

12-611.

(a)        (1)        Notwithstanding the fact that the

principal balance of an installment sale agreement
relating to consumer goods OR A MOTOR VEHICLE is payable
in installments, the finance charge [shall be] MAY NOT
EXCEED THE AMOUNT computed on the principal balance, AS
CALCULATED IN ACCORDANCE WITH §12-609 OR §12-610, from
the date of the agreement until the due date of the final
installment.

(2)         The amount of the maximum finance charge
permitted by §12-60 9 OR § 12-610 of this subtitle shall
be decreased or increased proportionately if the unpaid
principal balance due in connection with a purchase is
payable in successive installments substantially equal in
amount:

(i) For a period other than a year; or

(ii) For amounts other than $100.

(3)         If an installment sale agreement
provides for either unequal or irregular payments, the
finance charge may be at a rate which will provide the
same yield as is permitted under §12-609 OR § 12—610 of
this subtitle for installment sale agreements which
provide for equal and regular installment payments.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1976.

Approved May 17, 1976.

CHAPTER 871

(House Bill 2154)

AN ACT concerning

Harford County - Plans for Water Supply,
Sewerage and Solid Waste Disposal Systems

FOR the purpose of providing, in Harford County, that

county plans will incorporate the population and
community growth estimates contained in municipal
plans.

BY adding to