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2022 Maryland Statutes
Commercial Law
Title 12 - Credit Regulations
Subtitle 11 - Maryland Rental-Purchase Agreement Act
Section 12-1107 - Receipts
Universal Citation:
MD. Commercial Law Code § 12-1107 (2022)
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(a) A lessor shall provide the consumer with a written receipt for each payment under a rental–purchase agreement made in person by cash or money order, or, if the payment is made in any other form, on request.
(b) The written receipt shall contain the:
(1) Total amount paid;
(2) Total amount due that week or month; and
(3) Total remaining rental payments necessary to acquire ownership of the item.
(c) The lessor shall provide the consumer with a written statement of account within 3 days after the consumer’s request.
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