Ch. 602

1995 LAWS OF MARYLAND

(I)      TAXES,           REGISTRATION,          LICENSE,          ACQUISITION,
ADMINISTRATION, ASSIGNMENT, AND OTHER SIMILAR FEES;

(II)     CHARGES FOR INSURANCE AN EXTENDED WARRANTY,
MECHANICAL REPAIR CONTRACT, SERVICE CONTRACT, VEHICLE MAINTENANCE
AGREEMENT, AND ANY OTHER SIMILAR CHARGE;

(III)    CHARGES FOR A WAIVER OF THE CONTRACTUAL OBLIGATION
TO PAY THE GAP AMOUNT;

(IV)    CHARGES FOR ACCESSORIES AND INSTALLATION OF
ACCESSORIES;

(V)     CHARGES FOR DELIVERING, SERVICING, REPAIRING, OR
IMPROVING THE VEHICLE; AND

(VI)    CHARGES FOR OTHER GOODS, SERVICES, AND BENEFITS
INCIDENTAL TO THE CONSUMER LEASE TRANSACTION.

(4) "CAPITALIZED COST" ALSO SHALL INCLUDE, TO THE EXTENT
CAPITALIZED AND AMORTIZED AS SET FORTH IN PARAGRAPH (2) OF THIS
SUBSECTION, WITH RESPECT TO A VEHICLE OR OTHER PROPERTY TRADED-IN IN
CONNECTION WITH A LEASE, THE UNPAID BALANCE OF ANY AMOUNT FINANCED
UNDER AN OUTSTANDING VEHICLE LOAN AGREEMENT OR VEHICLE RETAIL
INSTALLMENT CONTRACT OR THE UNPAID PORTION OF THE EARLY TERMINATION
OBLIGATION UNDER ANY LEASE OR OTHER OBLIGATION OF THE LESSEE.

(D)     (1) "CAPITALIZED COST REDUCTION" MEANS ANY PAYMENTS MADE BY
CASH, CHECK, REBATES, OR SIMILAR MEANS THAT ARE IN THE NATURE OF DOWN
PAYMENTS MADE BY THE LESSEE AND ANY NET TRADE-IN ALLOWANCE GRANTED
BY THE LESSOR AT THE INCEPTION OF THE CONSUMER LEASE FOR THE PURPOSE OF
REDUCING THE CAPITALIZED COST.

(2) "CAPITALIZED COST REDUCTION" DOES NOT INCLUDE ANY BASE
LEASE PAYMENTS DUE AT THE INCEPTION OF THE LEASE OR ALL OF THE LEASE
PAYMENTS IF THEY ARE ALL PAID AT THE INCEPTION OF THE LEASE.

(E)     "CONSUMER LEASING ACT" MEANS THAT ACT OF CONGRESS CODIFIED AT
15 U.S.C. §§ 1667 THROUGH 1667(E), AND REGULATIONS PROMULGATED PURSUANT
THERETO, AS AMENDED.

[(b)](F) "Dealer" means a dealer as defined in § 15-101(b) of the Transportation
Article.

[(c)] (G) (1) "Lease" or "leasing" means a [transaction through which:.

(i) The possession or use of a motor vehicle for a commission or other
compensation is transferred to a lessee primarily for personal, family, or household
purposes for more than 180 consecutive days, including renewal periods;

(ii) The lessee may return the motor vehicle at the end of the lease
term with no financial obligation other than payments required under the lease for excess
wear and tear and excess mileage charges; and

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