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PARRIS N. GLENDENING, Governor H.B. 863
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(2) APPLIES ONLY TO THE ORIGINAL PERSON GUARANTEED UNDER THE
SERVICE CONTRACT; AND
(3) APPLIES ONLY IF A CLAIM HAS NOT BEEN MADE UNDER THE
SERVICE CONTRACT PRIOR TO CANCELLATION OF THE SERVICE CONTRACT.
(G) (1) A PROVIDER SHALL PAY OR CREDIT THE ACCOUNT OF A PERSON
GUARANTEED WHO HAS CANCELLED A SERVICE CONTRACT UNDER SUBSECTION (D)
OF THIS SECTION THE FULL CONSIDERATION PAID FOR THE SERVICE CONTRACT
WITHIN 45 DAYS AFTER THE CANCELLATION.
(2) A PROVIDER THAT DOES NOT PAY OR CREDIT THE ACCOUNT OF THE
PERSON GUARANTEED IN ACCORDANCE WITH PARAGRAPH (1) OF THIS SUBSECTION
SHALL PAY TO THE PERSON GUARANTEED AN AMOUNT EQUAL TO 10% OF THE VALUE
OF THE CONSIDERATION PAID FOR THE SERVICE CONTRACT FOR EACH MONTH THAT
THE REFUND IS NOT PAID OR CREDITED.
14-404.
(a) (1) A guarantor shall fulfill [his] THE GUARANTOR'S guaranty according
to its terms:
(i) Within a reasonable time; and
(ii) For the stated period of the guaranty or, if no period is stated,
for a reasonable period of time.
(2) A PROVIDER SHALL FULFILL THE OBLIGATIONS UNDER THE
SERVICE CONTRACT ACCORDING TO ITS TERMS:
(I) AT OR WITHIN THE PERIOD STATED IN THE SERVICE
CONTRACT, OR IF NO PERIOD IS STATED, WITHIN A REASONABLE TIME; AND
(II) FOR THE STATED DURATION OF THE SERVICE CONTRACT.
[(2)](B) (1) (I) A guaranty is extended automatically when a
guarantor fails to repair successfully a malfunctioning or defective product within the
guaranty period.
(II) The guaranty does not terminate until the consumer product
successfully performs its intended function for the remaining period of the guaranty
plus a period equal to the time of repair.
(2) (I) A SERVICE CONTRACT IS EXTENDED AUTOMATICALLY WHEN
THE PROVIDER FAILS TO PERFORM THE SERVICES UNDER THE SERVICE CONTRACT.
(II) THE SERVICE CONTRACT DOES NOT TERMINATE UNTIL THE
SERVICES ARE PROVIDED IN ACCORDANCE WITH THE TERMS OF THE SERVICE
CONTRACT.
[(b)] (C) If a guaranty fails to disclose the information required by § 14-403
OF THIS SUBTITLE, the guarantor shall, without charge and within a reasonable
period of time:
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- 5243 -
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