§ 12-1102

Maryland § 12-1102

• Jurisdiction: Maryland
• Article gcl: Commercial Law
• Title: 12

Text

(a) A rental-purchase agreement that complies with this subtitle may not be deemed to be:

(1) A “retail sale”, as defined in § 12-601(s) of this title;

(2) An “installment sale agreement”, as defined in § 12-601(m) of this title; or

(3) A “security interest”, as defined in § 1-201(37) of this article.

(b) This subtitle does not apply to:

(1) A rental-purchase agreement made primarily for business, commercial, or agricultural purposes, or made with governmental agencies, instrumentalities, or organizations;

(2) A rental of a safe deposit box;

(3) A lease or bailment of personal property that:

(i) Is incidental to the rental of real property; and

(ii) Provides that the consumer has no option to purchase the rented real property; or

(4) A lease of an automobile.