Ch. 620

LAWS OF MARYLAND

(2) "ADVERTISEMENT" DOES NOT INCLUDE IN-STORE
MERCHANDISING ADS.

(C)   "CASH PRICE" MEANS THE PRICE AT WHICH THE LESSOR WOULD
HAVE SOLD RENTAL PROPERTY COVERED BY A RENTAL-PURCHASE AGREEMENT
TO THE CONSUMER UNCONDITIONALLY FOR CASH ON THE DATE OF
CONSUMMATION.

(D)   "CONSUMER" MEANS AN INDIVIDUAL WHO RENTS PERSONAL
PROPERTY UNDER A RENTAL-PURCHASE AGREEMENT PRIMARILY FOR
PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES.

(E)   "CONSUMMATION" MEANS THE TIME AT WHICH A CONSUMER
ENTERS INTO A RENTAL-PURCHASE AGREEMENT.

(F)   "LESSOR" MEANS A PERSON WHO REGULARLY PROVIDES THE USE
OF PERSONAL PROPERTY THROUGH RENTAL-PURCHASE AGREEMENTS TO
CONSUMERS AND TO WHOM RENTAL PAYMENTS ARE INITIALLY PAYABLE ON
THE FACE OF A RENTAL-PURCHASE AGREEMENT.

(G)   "RENTAL PROPERTY" MEANS PERSONAL PROPERTY THAT IS THE
SUBJECT OF A RENTAL-PURCHASE AGREEMENT.

(H) "RENTAL-PURCHASE AGREEMENT" MEANS AN AGREEMENT THAT:

(1)   IS FOR THE USE OF PERSONAL PROPERTY BY AN
INDIVIDUAL PRIMARILY FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES;

(2)  IS FOR AN INITIAL PERIOD OF 4 MONTHS OR LESS;

(3)  IS AUTOMATICALLY RENEWABLE FOR A WEEKLY OR
MONTHLY PERIOD WITH EACH RENTAL PAYMENT AFTER THE INITIAL PERIOD;
AND

(4)  ALLOWS BUT DOES NOT OBLIGATE THE CONSUMER TO
BECOME THE OWNER OF THE PROPERTY.

12-1102.

(A) A RENTAL-PURCHASE AGREEMENT THAT COMPLIES WITH THIS
SUBTITLE MAY NOT BE DEEMED TO BE:

(1) A "DOOR TO DOOR SALE", AS DEFINED IN § 14-301(D)
OF THIS ARTICLE;

(2) (1) A "RETAIL SALE", AS DEFINED IN § 12-601(P) OF
THIS TITLE;

(3) (2) AN "INSTALLMENT SALE AGREEMENT", AS DEFINED
IN § 12-601(L) OF THIS TITLE; OR

(4) (3) A "SECURITY INTEREST", AS DEFINED IN §
1-201(37) OF THIS ARTICLE;.

- 3728 -