Section 12-1108 - New rental-purchase agreements. - Maryland Statutes

§ 12-1108. New rental-purchase agreements.
 

(a)  In general.- 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)  When not required.- 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. 
 

[1989, ch. 620.]