Md. Code, Commercial Law § 12-1103
This is the official text of Md. Code, Commercial Law § 12-1103, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
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§12–1103.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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