Ch. 577

LAWS OF MARYLAND

(1) THE LESSEE MAY RETURN THE MOTOR VEHICLE AT THE
END OF THE LEASE TERM WITH NO FINANCIAL OBLIGATIONS OTHER THAN
PAYMENTS REQUIRED UNDER THE LEASE FOR EXCESS WEAR AND TEAR AND
EXCESS MILEAGE CHARGES; AND

(2) THE LESSEE IS PROVIDED THE OPTION TO PURCHASE THE
LEASED VEHICLE FOR:

(I) IN THE CASE OF A NEW VEHICLE, A
CONSIDERATION IN EXCESS OF:

1. 20 PERCENT OF THE "VALUE AT
CONSUMMATION" OF THE VEHICLE AS THAT TERM IS DEFINED IN 12 C.F.R.
§ 213.2(A)(18); OR

2. IF THE VALUE OF CONSUMMATION IS NOT
STATED IN THE LEASE, 20 PERCENT OF THE MONRONE STICKER PRICE FOR
THE VEHICLE; OR

(II) IN THE CASE OF A USED VEHICLE, A
CONSIDERATION IN EXCESS OF 20 PERCENT OF THE WHOLESALE VALUE OF
THE VEHICLE AS SHOWN IN THE OFFICIAL USED CAR GUIDE OF THE
NATIONAL AUTOMOBILE DEALER'S ASSOCIATION (N.A.D.A.), TAKING INTO
ACCOUNT ACCESSORIES AND MILEAGE PLUS ANY COSTS INCURRED BY THE
LESSOR IN REPAIRING AND SERVICING THE VEHICLE IN ANTICIPATION OF
A LEASE.

11-143.

"Owner", as used in reference to a vehicle:

(1)  Means a person who has the property in or title
to the vehicle;

(2)  Includes a person who, subject to a security
interest in another person, is entitled to the use and possession
of the vehicle; [and]

(3)  Does not include a lessee under a lease not
intended as security; AND

(4)  INCLUDES A LESSEE UNDER A LEASE INTENDED AS A
SECURITY.

15-101.

(b) (1) "Dealer" means, except as provided in paragraph (3)
of this subsection, a dealer in vehicles of a type required to be
registered under Title 13 of this article.

(2) "Dealer" includes:

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