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2020 Maryland Statutes
Commercial Law
Title 12 - Credit Regulations
Subtitle 11 - Maryland Rental-Purchase Agreement Act
Section 12-1103 - Disclosures -- in General

Universal Citation:
MD Commercial Law Code Ann. § 12-1103 (2020)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

    (a)    (1)    A lessor shall disclose to a consumer the information required under this subtitle.

        (2)    In a transaction involving more than 1 lessor, only 1 lessor need make the disclosures required under this subtitle, but all lessors shall be bound by the disclosures made.

    (b)    A lessor shall make the disclosures required under this subtitle before consummation of the rental–purchase agreement.

    (c)    A lessor shall:

        (1)    Make the disclosures required under this subtitle in a written form that is simple and understandable and is written or typed in a size not less than 10 point type;

        (2)    Make the disclosures required under this subtitle in English or in any other language used by the lessor in advertisements related to the rental–purchase transaction;

        (3)    Make the disclosures required under this subtitle on the face of the rental–purchase agreement and summary of costs chart above the consumer’s signature lines; and

        (4)    Deliver a copy of the rental–purchase agreement and the summary of costs chart to the consumer.

    (d)    If a disclosure becomes inaccurate as a result of any act, occurrence, or agreement by the consumer after delivery of the rental property, the resulting inaccuracy is not a violation of this subtitle.

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