HARRY HUGHES, Governor                             2215

(B) ANY PERSON WHO WILLFULLY REQUIRES A BORROWER TO
MAKE A FALSE OR MISLEADING STATEMENT IN VIOLATION OF
SUBSECTION (A), OR WHO WILLFULLY PROCURES SUCH STATEMENT,
KNOWING THAT IT IS FALSE OR MISLEADING, SHALL FORFEIT TO THE
BORROWER THREE TIMES THE AMOUNT OF INTEREST AND CHARGES
CONTRACTED FOR OR COLLECTED IN EXCESS OF THAT PERMITTED
LAW, IN ADDITION TO ANY OTHER PENALTY OTHERWISE PROVIDED I
THIS TITLE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 20, 1980.

CHAPTER 632

(House Bill 1178)

AN ACT concerning

Motor Vehicle Installment Sales Agreement -
Disclosure

FOR the purpose of requiring a motor vehicle dealer to
disclose to a buyer that the dealer may receive a
portion of the finance charges of a motor vehicle
installment sales agreement; requiring a disclosure of
the terms of the agreement; and generally relating to
disclosure of finance charges received by motor vehicle
dealers.

FOR the purpose of providing that a motor vehicle seller may
assign a retail installment agreement and receive a
portion of the finance charge only if that fact is
disclosed in the agreement; and providing that the
specific amount to be received need not be disclosed.

BY adding to

Article - Commercial Law
Section 12-609(e)
Annotated Code of Maryland
(1975 Volume and 1979 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article - Commercial Law

12-609.