§ 12–1101
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 12-1101 (2026)
Title 12. Credit Regulations
Subtitle 11. Maryland Rental-Purchase Agreement Act
§ 12–1101LinkCopy Citation
(a)
In this subtitle the following words have the meanings indicated.
(b)
(1)
“Advertisement” means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental–purchase agreement.
(2)
“Advertisement” does not include in–store merchandising ads.
(c)
“Cash price” means the price at which the lessor would have sold rental property covered by a rental–purchase agreement to the consumer unconditionally for cash on the date of consummation.
(d)
“Consumer” means an individual who rents personal property under a rental–purchase agreement primarily for personal, family, or household purposes.
(e)
“Consummation” means the time at which a consumer enters into a rental–purchase agreement.
(f)
“Cost of lease services” means the difference between the final purchase price of rental property and the cash price of rental property.
(g)
“Lessor” means a person who regularly provides the use of personal property through rental–purchase agreements to consumers and to whom rental payments are initially payable on the face of a rental–purchase agreement.
(h)
“Rental property” means personal property that is the subject of a rental–purchase agreement.
(i)
“Rental–purchase agreement” means an agreement that:
(1)
Is for the use of personal property by an individual primarily for personal, family, or household purposes;
(2)
Is for an initial period of 4 months or less;
(3)
Is automatically renewable for a weekly or monthly period with each rental payment after the initial period; and
(4)
Allows but does not obligate the consumer to become the owner of the property.