Ch. 577                                    LAWS OF MARYLAND

(I) (l) THE PERIOD OF THE MOTOR VEHICLE'S FIRST
12,000 MILES OF OPERATION; OR

(II) (2) 12 MONTHS FOLLOWING THE DATE OF
ORIGINAL DELIVERY OF THE MOTOR VEHICLE TO THE CONSUMER LESSEE.

14-1902.

(A) A CONTRACT FOR THE LEASE OF A VEHICLE SHALL CONTAIN A
CLEAR STATEMENT OF:

(1) IF THE VEHICLE TO BE LEASED IS A NEW VEHICLE, THE
MANUFACTURER'S SUGGESTED RETAIL SALES PRICE OF THE VEHICLE;

(2) ANY OTHER CHARGE MADE IN CONNECTION WITH THE
LEASE OF THE VEHICLE;.

(1)  THE TOTAL AMOUNT OF ANY PAYMENT TO BE PAID BY THE
LESSEE AT THE CONSUMMATION OF THE LEASE INCLUDING, BUT NOT
LIMITED TO:

(I) REFUNDABLE SECURITY DEPOSIT PAID BY CASH,
CHECK, OR OTHER SIMILAR MEANS;

(II) ADVANCE PAYMENT; AND

(III) CAPITALIZED COST REDUCTION OR ANY
TRADE-IN ALLOWANCE APPROPRIATELY IDENTIFIED;

(2) ALL DISCLOSURES REQUIRED UNDER REGULATION M;

(3) A DISCLOSURE THAT THE LEASE IS A "LEASE NOT
INTENDED AS SECURITY", AS DEFINED UNDER § 11-127.1(C) OF THE
TRANSPORTATION ARTICLE, AND A REPRODUCTION OF THAT DEFINITION;

(3) (4) ANY DOWN PAYMENT OR OTHER CONSIDERATION PAID
TO THE LEASING COMPANY;

(4) (5) THE TOTAL OF LEASE PAYMENTS TO BE PAID OVER
THE TERMS OF THE LEASE; AND

(5) (6) WHETHER THE LESSEE OF THE VEHICLE MAY
TERMINATE THE LEASE OF THE VEHICLE PRIOR TO THE END OF THE LEASE
TERMS, AND IF SO, THE AMOUNT, IF ANY, WHICH THE LESSEE IS
REQUIRED TO PAY UPON THE TERMINATION OF THE LEASE, BASED ON
12-MONTH INTERVALS.

(B)(1) THE HOLDER OF A NOTE LESSOR OR THE LESSOR'S
ASSIGNEE PURSUANT TO A LEASE SHALL DISCLOSE TO A LESSEE, UPON
REQUEST, WITHIN 5 BUSINESS DAYS THE AMOUNT OF OUTSTANDING DEBT TO
THE HOLDER LESSOR OR THE LESSOR'S ASSIGNEE.

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