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Statutes Text

Article - Commercial Law




§12–1107.

    (a)    A lessor shall provide the consumer with a written receipt for each payment under a rental–purchase agreement made in person by cash or money order, or, if the payment is made in any other form, on request.

    (b)    The written receipt shall contain the:

        (1)    Total amount paid;

        (2)    Total amount due that week or month; and

        (3)    Total remaining rental payments necessary to acquire ownership of the item.

    (c)    The lessor shall provide the consumer with a written statement of account within 3 days after the consumer’s request.



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