HARRY HUGHES, Governor

3879

$___PER MONTH FOR

____MONTHS AFTER THAT

TOTAL OF PAYMENTS

SEPARATE AGREEMENTS                       CONSOLIDATED AGREEMENT

$___ TOTAL OF                                 $___TOTAL OF PAYMENTS

PAYMENTS FOR YOUR                          FOR YOUR CONSOLIDATED

EXISTING PURCHASES                         PURCHASES

____TOTAL OF PAYMENTS

FOR YOUR NEW PURCHASES

(2) THE HOLDER MUST ALLOW THE BUYER THE CHOICE
OF REPAYING HIS EXISTING PURCHASE BALANCE AT THE ORIGINALLY
AGREED UPON RATE AND OBTAINING ANY ADDITIONAL EXTENSION OF
CREDIT AS A SEPARATE AGREEMENT, NOTWITHSTANDING ANY LAW
WHICH LIMITS THE HOLDER'S ABILITY TO HAVE MORE THAN 1
AGREEMENT WITH THE SAME BUYER;

(3) AN EXISTING BALANCE MAY BE REFINANCED ONLY
UPON THE BUYER'S REQUEST;

(4) THE HOLDER MUST REFUND OR CREDIT TO THE
BUYER'S ACCOUNT ANY UNEARNED FINANCE CHARGE AND ANY RETURNED
INSURANCE PREMIUMS UPON THE CANCELLATION OF INSURANCE SOLD
IN CONNECTION WITH THE PURCHASES;

(5) THE HOLDER MUST ALLOW THE BUYER THE RIGHT TO
CANCEL THE CONSOLIDATED PURCHASE AGREEMENT WITHIN 3 BUSINESS
DAYS AND TO ELECT THE SEPARATE ACCOUNT OPTION PURSUANT TO
SUBSECTION (2). THE HOLDER SHALL PROVIDE TO THE BUYER
CONSPICUOUS NOTICE OF THE PROVISIONS OF THIS SUBSECTION; AND

(6) NOTHING IN THIS SUBSECTION SHALL PROHIBIT
THE RECEIPT OF GOODS OR SERVICES BY THE BUYER AT THE TIME
THE CONSOLIDATED PURCHASE AGREEMENT IS MADE.

12-610.2.

A HOLDER MAY NOT ENTER INTO A RETAIL INSTALLMENT SALES
AGREEMENT, PROVIDING FOR AN INITIAL RATE OF FINANCE CHARGE
PURSUANT TO SECTION 12-609(F) OR 12-610(3) OF THIS SUBTITLE,
WHICH CONTAINS A PROVISION THAT PERMITS THE HOLDER TO
INCREASE OR DECREASE THE APPLICABLE RATE OF FINANCE CHARGE
FROM TIME TO TIME DURING THE TERM OF AN AGREEMENT.

12-634.

(a) A sales finance company may charge the buyer for
a renewal, extension, or refund made under § 12-632, an
amount not exceeding an annual effective rate of simple
interest, as defined in Subtitle 1 of this title, of 15