Section 14-215 - Stay of proceedings for repossession or sale of motor vehicle or tractor. - Maryland Statutes

§ 14-215. Stay of proceedings for repossession or sale of motor vehicle or tractor.
 

(a)  In general.- Except if a court finds that 50% or more of the purchase price of a motor vehicle, tractor, or the accessories of a motor vehicle or tractor has been paid, a court may not stay a proceeding to resume possession of or to order the sale of a motor vehicle, tractor, or the accessories of a motor vehicle or tractor that is encumbered by a purchase money mortgage, conditional sales contract, or a lease or bailment with an option to purchase. 

(b)  Authorization to require bond.- Before entering an order or judgment in a proceeding to resume possession of or to order the sale of a motor vehicle, tractor, or the accessories of a motor vehicle or tractor, the court may require the plaintiff to file a bond approved by the court to indemnify the defendant, if the defendant is a person in emergency management service or person suffering injury or damage, against any loss or damage that the defendant may suffer because of the judgment or order if all or part of the judgment or order is set aside. 
 

[An. Code 1957, art. 16A, § 25; 2003, ch. 5, § 2.]