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LAWS OF MARYLAND

Ch. 632

(E) IF A MOTOR VEHICLE DEALER IS TO RECEIVE A PORTION
OF THE FINANCE CHARGE IMPOSED ON THE SALE OF A MOTOR VEHICLE
FROM A SUBSEQUENT HOLDER OF A MOTOR VEHICLE INSTALLMENT
SALES AGREEMENT, THE DEALER SHALL:

(1) INFORM THE BUYER OF THE MOTOR VEHICLE BEFORE
EXECUTION OF THE AGREEMENT THAT THE DEALER MAY RECEIVE A
PORTION OF THE FINANCE CHARGE; AND

(2) DISCLOSURE THE TERMS OF THIS INFORMATION IN
THE INSTALLMENT SALES AGREEMENT.

(E) A SELLER MAY ASSIGN A RETAIL INSTALLMENT AGREEMENT
AND RECEIVE A PORTION OF THE FINANCE CHARGE ONLY IF THE FACT
IS DISCLOSED IN THE AGREEMENT. THE SPECIFIC AMOUNT TO BE
RECEIVED NEED NOT BE DISCLOSED.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980 January 1, 1981.

Approved May 20, 1980.

CHAPTER 633

(House Bill 1187)

AN ACT concerning

Caroline County - Contracts to Acquire
Purchase or Lease Personal Property

FOR the purpose of authorizing the County Commissioners of
Caroline County to acquire purchase or lease personal
property, by purchase or lease, and to borrow funds for
this purpose,, in exercise of its borrowing power,
pursuant to a contract requiring payments during 2 or
more fiscal years, provided that funds have been
appropriated to pay all the payments which will be
coming due during the first fiscal year in which the
contract is in effect and provided, that the contract
includes a termination provision in the event that
funds for subsequent years are not appropriated, and
that the contract provides that any obligation to pay
amounts under the contract is limited to certain
sources of funds.                                                                       

BY adding to

Article 25 - County Commissioners

Section 9C

Annotated Code of Maryland

(1973 Replacement Volume and 1979 Supplement)