Ch. 549                                    1994 LAWS OF MARYLAND

(ii) Briefly state the rights of the borrower in case the goods are
repossessed.

(d)     The notice may be delivered to the borrower personally or sent to him at his
last known address by registered or certified mail.

(e)     Within 5 days after he repossesses the goods, the lender shall deliver to the
borrower personally or send to him at his last known address by registered or certified
mail, a written notice which briefly states:

(1)     The right of the borrower to redeem the goods, and the amount payable
for them;

(2)     The rights of the borrower as to a resale, and his liability for a
deficiency; and

(3)     The exact location where the goods are stored and the address where
any payment is to be made or notice delivered.                                             

(f)      For 15 days after the lender gives the notice required by subsection (e) of this
section, the lender shall retain any repossessed goods.

(g)     During the period provided for in subsection (f) of this section, the borrower
may:

(1)     Redeem and take possession of the goods; and

(2)     Resume the performance of the agreement.
(h) To redeem the goods, the borrower shall:

(1)     Tender the amount due under the agreement at the time of redemption,
without giving effect to any provision which allows acceleration of any installment
otherwise payable after that time;

(2)     Tender performance of any other promise for the breach of which the
goods were repossessed; and

(3)     If the discretionary notice provided for in subsection (c) of this section
was given, pay the actual and reasonable expenses of retaking and storing the goods.

(i) This section does not apply if the borrower was guilty of fraudulent conduct,
intentionally and wrongfully concealed, removed, damaged, or destroyed the goods, or
attempted to do so, and the goods were repossessed because of that conduct.

(j) (1) The lender shall sell the repossessed goods at private sale (subject to the
provisions of paragraph (2) of this subsection) or at public auction. At least 10 days
before the sale, the lender shall notify the borrower in writing sent by certified mail,
return receipt requested, sent to the borrower's last known address of the time and place
of sale. Any sale of repossessed property must be accomplished in a commercially
reasonable manner.

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