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Maryland Code, Commercial Law § 12-1108

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) When a rental-purchase agreement is satisfied and replaced by a new rental-purchase agreement between the lessor and consumer, the lessor and consumer shall negotiate a new rental-purchase agreement requiring new disclosures.

(b) The following do not require the negotiation of a new rental-purchase agreement:

(1) The addition or return of rental property under a multiple-item agreement or the substitution of the rental property, if in either case the average payment allocable to a payment period is not changed by more than 25 percent;

(2) A deferral or extension of 1 or more rental payments, or portions of a rental payment;

(3) A reduction in charges in the rental-purchase agreement; or

(4) A rental-purchase agreement involved in a court proceeding.

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Cite this article: FindLaw.com - Maryland Code, Commercial Law § 12-1108 - last updated January 01, 2025 | https://codes.findlaw.com/md/commercial-law/md-code-coml-sect-12-1108/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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