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HARRY HUGHES, Governor 731
PURCHASE OBLIGATION ADDED TO THE ACCOUNT DURING THAT BILLING
PERIOD FROM THE DATE OF PURCHASE TO THE END OF THAT BILLING
PERIOD;
(2) NOTWITHSTANDING PARAGRAPHS (I) AND (II) OF THIS
SUBSECTION, IF THE AGREEMENT GOVERNING A PLAN SO PROVIDES, A
FINANCE CHARGE OR INTEREST MAY BE IMPOSED FROM THE DATE OF
PURCHASE, IF THE AGREEMENT DOES NOT PROVIDE ANY CHARGE PERMITTED
BY § 12-905(A) OF THIS SUBTITLE.
12-904.
(A) IF THE AGREEMENT GOVERNING THE REVOLVING CREDIT PLAN SO
PROVIDES, THE PERIODIC PERCENTAGE RATE OF INTEREST OR FINANCE
CHARGES UNDER THE PLAN MAY VARY IN ACCORDANCE WITH A SCHEDULE OR
FORMULA AN INDEX THAT IS MADE READILY AVAILABLE TO AND VERIFIABLE
BY THE BORROWER AND IS BEYOND THE CONTROL OF THE CREDIT GRANTOR.
(B) THE PERIODIC PERCENTAGE RATE MAY VARY FROM TIME TO TIME
AS THE RATE DETERMINED IN ACCORDANCE WITH THE SCHEDULE OR FORMULA
VARIES AND THE PERIODIC PERCENTAGE RATE, AS VARIED, MAY BE MADE
APPLICABLE TO ALL OUTSTANDING UNPAID INDEBTEDNESS ON OR AFTER THE
EFFECTIVE DATE OF THE VARIATION, INCLUDING ANY INDEBTEDNESS
ARISING OUT OF PURCHASES MADE OR LOANS OBTAINED PRIOR TO THE
VARIATION.
(C) THE PERIODIC PERCENTAGE RATE, AS VARIED, MAY NOT EXCEED
THE MAXIMUM RATE PERMITTED PURSUANT TO SUBSECTION 12-903(A)(1).
12-905.
(A) IN ADDITION TO INTEREST OR FINANCE CHARGES AT A
PERIODIC PERCENTAGE RATE OR RATES AS PROVIDED IN SECTIONS 12-903
AND 12-904 OF THIS SUBTITLE, A BANK CREDIT GRANTOR MAY, IF THE
AGREEMENT GOVERNING THE REVOLVING CREDIT PLAN PROVIDES, CHARGE
AND COLLECT ONE OR MORE OF THE FOLLOWING:
(1) A DAILY, WEEKLY, MONTHLY, ANNUAL OR OTHER
PERIODIC CHARGE IN ANY AMOUNT IN THE AGREEMENT PROVIDES FOR THE
PRIVILEGES MADE AVAILABLE TO THE BORROWER UNDER THE PLAN, BUT IF
A CHARGE IS IMPOSED ON A CONSUMER BORROWER DURING THE PERIOD
COVERED BY THE CHARGE, ONLY FINANCE CHARGES OR INTEREST EXCEEDING
THE AMOUNT OF THE CHARGE MAY BE COLLECTED;
(2) A TRANSACTION CHARGE OR CHARGES IN SUCH AMOUNT OR
AMOUNTS AS THE AGREEMENT MAY PROVIDE FOR EACH SEPARATE PURCHASE
OR LOAN UNDER THE PLAN;
(3) A MINIMUM CHARGE FOR EACH DAILY, WEEKLY, MONTHLY,
ANNUAL, OR OTHER SCHEDULED BILLING PERIOD UNDER THE PLAN DURING
ANY PORTION OF WHICH THERE IS AN OUTSTANDING UNPAID INDEBTEDNESS
UNDER THE PLAN; AND
(4) REASONABLE FEES FOR SERVICES RENDERED OR FOR
REIMBURSEMENT OF EXPENSES INCURRED IN IN GOOD FAITH BY THE BANK
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