PARRIS N. GLENDENING, Governor                                 Ch. 395

(3) Charging and collecting any charges in connection with the matters
referred to in paragraphs (1) and (2) of this subsection; or

(4) Charging and collecting late or delinquency charges, attorney's fees, or
collection charges.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section(s) 12-601(h) through (w)(n). respectively, of Article -
Commercial Law of the Annotated Code of Maryland be renumbered to be Section(s)
12-601(i) through (x) (o), respectively, and that Section(s) 12-601(o) through (w),
respectively, of Article - Commercial Law of the Annotated Code of Maryland be renumbered
to be Section(s) 12-601(q) through (y), respectively.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:

Article - Commercial Law

12-601.

(a) In this subtitle the following words have the meanings indicated.

(H) "DEBT CANCELLATION AGREEMENT" MEANS AN AGREEMENT BETWEEN
A SELLER AND A BUYER WHICH PROVIDES FOR CANCELLATION OF ALL OR PART OF
THE OUTSTANDING BALANCE PAYABLE UNDER AN INSTALLMENT SALE
AGREEMENT IN THE EVENT OF THEFT OR TOTAL DESTRUCTION OF THE MOTOR
VEHICLE THAT IS THE SUBJECT OF THE INSTALLMENT SALE AGREEMENT AFTER
APPLICATION OF THE PROCEEDS OF ANY INSURANCE MAINTAINED ON THE MOTOR
VEHICLE.

(P) "OUTSTANDING BALANCE", WHEN USED IN REFERENCE TO A DEBT
CANCELLATION AGREEMENT, DOES NOT INCLUDE:

(1) ANY DELINQUENT PAYMENTS;

(2)     PAST DUE CHARGES;

(3)     LATE PAYMENT CHARGES;

(4)     UNEARNED INTEREST;

(5)     UNEARNED RENTAL PAYMENTS; OR

(6) BY AGREEMENT OF THE PARTIES, THE AMOUNT OF ANY PRIMARY
INSURANCE DEDUCTIBLE.

(w) "Time balance" means the sum of the items described in [§ 12-606(b)(8) and
(9)] § 12-606(B)(9) AND (10) of this subtitle.

12-606.

(b) An installment sale agreement also shall state in simple tabular form the
following separate items in the following order:

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