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09.03.04.00.htm 09.03.04.00. Title 09 MARYLAND DEPARTMENT OF LABOR Subtitle 03 COMMISSIONER OF FINANCIAL REGULATION Chapter 04 Retail Installment Sellers Authority: Financial Institutions Article, §2-105.1 and Title 11, Subtitle 4; Commercial Law Article, Title 12, Subtitle 6; Annotated Code of Maryland
09.03.04.01.htm 09.03.04.01. 01 Repossession.. In every case where written notice is delivered or sent to the obligor as required by Commercial Law Article, §12-624(d) Annotated Code of Maryland, this notice will state, as part of the buyer's right to redeem and the amount payable for it, the following:A. If written notice of intention to repossess was served on the buyer pursuant to Commercial Law Article, §12-624(c) Annotated Code of Maryland, the actual cost of towing or retaking, the exact daily
09.03.04.02.htm 09.03.04.02. 02 Application of Proceeds of Resale by Holder of Repossessed Goods.. A. In all cases of private sale of repossessed goods, a full accounting shall be made to the buyer in writing. The seller shall retain a copy of this accounting for at least 24 months.B. The accounting shall contain the following information:. 1) The unpaid balance at the time the goods were repossessed;. 2) The refund credit of unearned finance charges and insurance premiums, if any;.
09.03.04.03.htm 09.03.04.03. 03 Insurance.. A. Except as provided elsewhere in this regulation, if an insurance premium is financed as part of an installment sale agreement, whether for dual interest physical damage insurance or third-party liability insurance, or both, and the insurance is terminated for any reason by the insurer and the unearned premium returned to the holder of the installment sale agreement, the holder immediately shall remit the unearned premium to the buyer less only
09.03.04.9999.htm 09.03.04.9999. Administrative History Effective date: June 12, 1981 (8:12 Md. R. 1061). Chapter recodified from COMAR 09.04.03 to COMAR 09.03.04, April, 1998. Regulation .02 amended effective September 7, 1998 (25:18 Md. R. 1434).
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