clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e
  Maryland State Archives | Index | Help | Search search for:
clear space
white space
Session Laws, 1989
Volume 771, Page 3733   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

WILLIAM DONALD SCHAEFER, Governor Ch. 620

AFTER REINSTATEMENT, THE LESSOR SHALL PROVIDE THE CONSUMER WITH
THE SAME RENTAL PROPERTY OR A SUBSTITUTE PROPERTY OF COMPARABLE
QUALITY AND CONDITION.

(E) (1) A LESSOR MAY REPOSSESS PROPERTY UNDER A
RENTAL-PURCHASE AGREEMENT IF THE CONSUMER IS IN DEFAULT OF:

(I)  ANY SUM DUE UNDER THE AGREEMENT; OR

(II)  THE PERFORMANCE OF ANY PROMISE THE BREACH
OF WHICH IS EXPRESSLY MADE A GROUND FOR REPOSSESSING THE
PROPERTY.

(2)  A LESSOR MAY REPOSSESS PROPERTY ONLY BY LEGAL
PROCESS OR SELF-HELP WITHOUT THE USE OF FORCE. NOTHING IN THIS
SECTION AUTHORIZES A VIOLATION OF CRIMINAL LAW.

(3)  AT THE TIME OF REPOSSESSION OF THE PROPERTY, THE
LESSOR SHALL DELIVER TO THE CONSUMER A WRITTEN NOTICE WHICH
STATES THE RIGHT OF THE BUYER TO REINSTATE THE RENTAL-PURCHASE
AGREEMENT, THE LAST DATE BY WHICH THE CONSUMER MAY REINSTATE THE
AGREEMENT, AND THE AMOUNT PAYABLE FOR REINSTATEMENT.

(4)  THE CONSUMER MAY REINSTATE THE RENTAL-PURCHASE
AGREEMENT WITHIN 15 DAYS AFTER THE DATE OF REPOSSESSION BY
PAYING:

(I)  ALL PAST DUE RENTAL CHARGES;

(II)  THE REASONABLE COSTS OF PICKUP AND
REDELIVERY; AND

(III)  A REINSTATEMENT FEE OF $5.

12-1107.

A LESSOR SHALL PROVIDE THE CONSUMER WITH A WRITTEN RECEIPT
FOR EACH PAYMENT UNDER A RENTAL-PURCHASE AGREEMENT MADE IN
PERSON BY CASH OR MONEY ORDER.

12-1108.

(A)  WHEN A RENTAL-PURCHASE AGREEMENT IS SATISFIED AND
REPLACED BY A NEW RENTAL-PURCHASE AGREEMENT BETWEEN THE LESSOR
AND CONSUMER, THE LESSOR AND CONSUMER SHALL NEGOTIATE A NEW
RENTAL-PURCHASE AGREEMENT REQUIRING NEW DISCLOSURES.

(B)  THE FOLLOWING DO NOT REQUIRE THE NEGOTIATION OF A NEW
RENTAL-PURCHASE AGREEMENT:

(1) THE ADDITION OR RETURN OF RENTAL PROPERTY UNDER A
MULTIPLE-ITEM AGREEMENT OR THE . SUBSTITUTION OF THE RENTAL

- 3733 -

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1989
Volume 771, Page 3733   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 11, 2023
Maryland State Archives