PARRIS N. GLENDENING, Governor                                 Ch. 602

(iii) Capitalized cost reduction or any trade-in allowance appropriately
identified;

(2)     All disclosures required under Regulation M;

(3)     A disclosure that the lease is a "lease not intended as security", as
defined under § 11-127.1(c) of the Transportation Article, and a reproduction of that
definition;

(4)     Any down payment or other consideration paid to the leasing company;

(5)     The total of lease payments to be paid over the terms of the lease; and

(6)     Whether the lessee of the vehicle may terminate the lease of the vehicle
prior to the end of the lease terms, and if so, the amount, if any, which the lessee is
required to pay upon the termination of the lease, based on 12-month intervals.

(b)     (1) The lessor or the lessor's assignee pursuant to a lease shall disclose to a
lessee, upon request, within 5 business days the amount of outstanding debt to the lessor
or the lessor's assignee.

(2) (i) The amount described in paragraph (1) of this subsection shall be
itemized and shall include all moneys owed under the lease.

(ii) The amount shall also include any early termination penalties,
which shall be described as such and the method and exact figures used in computing
each of these amounts.

(c)      To the extent applicable, a lessor shall notify a lessee that the leased vehicle
was not originally built to meet U.S. federal requirements but has been modified and
certified by appropriate federal agencies to be in compliance.]

14-2002.

(A)     A LEASE SHALL BE IN WRITING AND SIGNED BY THE LESSOR AND THE
LESSEE.

(B)     THE PRINTED PORTION OF THE LEASE, OTHER THAN DIRECTIONS FOR
COMPLETION OF THE LEASE AND THE TEXT OF ANY ASSIGNMENT BETWEEN THE
ORIGINAL LESSOR AND AN ASSIGNEE, SHALL BE PRINTED IN A SIZE EQUAL TO AT
LEAST 8 POINT TYPE. THE LEASE SHALL CONTAIN THE FOLLOWING ITEMS PRINTED
OR WRITTEN IN A CONSPICUOUS MANNER:

(1)      AT THE TOP OF THE LEASE, THE WORDS "MOTOR VEHICLE LEASE
AGREEMENT";

(2)      IF PHYSICAL DAMAGE OR LIABILITY INSURANCE COVERAGE FOR
BODILY INJURY AND PROPERTY DAMAGE CAUSED TO OTHERS IS NOT INCLUDED IN
THE LEASE, A NOTICE SUBSTANTIALLY SIMILAR TO THE FOLLOWING: "NO PHYSICAL
DAMAGE OR LIABILITY INSURANCE COVERAGE FOR BODILY INJURY OR PROPERTY
DAMAGE CAUSED TO OTHERS IS INCLUDED IN THIS LEASE";

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