{"data":{"id":"us-md/md.-code-commercial-law-12-1101","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 12–1101","heading":"","body":"(a) In this subtitle the following words have the meanings indicated.\n(b) (1) “Advertisement” means a commercial message in any medium that aids, promotes, or assists, directly or indirectly, a rental–purchase agreement.\n(2) “Advertisement” does not include in–store merchandising ads.\n(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.\n(d) “Consumer” means an individual who rents personal property under a rental–purchase agreement primarily for personal, family, or household purposes.\n(e) “Consummation” means the time at which a consumer enters into a rental–purchase agreement.\n(f) “Cost of lease services” means the difference between the final purchase price of rental property and the cash price of rental property.\n(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.\n(h) “Rental property” means personal property that is the subject of a rental–purchase agreement.\n(i) “Rental–purchase agreement” means an agreement that:\n(1) Is for the use of personal property by an individual primarily for personal, family, or household purposes;\n(2) Is for an initial period of 4 months or less;\n(3) Is automatically renewable for a weekly or monthly period with each rental payment after the initial period; and\n(4) Allows but does not obligate the consumer to become the owner of the property.","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=12-1101","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"698b82b7d17e2fc59e6aa55fb5473f92977e0efddd5fb580f8e8d2cc3162eef4","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-12-1030","next":"us-md/md.-code-commercial-law-12-1102"},"notice":"GroundRules: Original legal text. Not legal advice."}