Current with changes from the 2024 Legislative Session
Section 12-1103 - Disclosures - In general(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.Amended by 2013 Md. Laws, Ch. 295,Sec. 1, eff. 10/1/2013.Amended by 2013 Md. Laws, Ch. 294,Sec. 1, eff. 10/1/2013.