Section 12-635 - Prepayment. - Maryland Statutes

§ 12-635. Prepayment.
 

(a)  Buyer's right to prepay.- A sales finance company shall permit a buyer to prepay in full or in part at any time, without penalty, the outstanding balance payable under a renewal, extension, or refund agreement. 

(b)  Refund of charges.- If a buyer prepays the entire outstanding balance, the sales finance company shall pay or credit to him the unearned portion of the charge. 
 

[An. Code 1957, art. 83, § 161; 1975, ch. 49, § 3.] 
   
PART IV. PENALTIES