{"data":{"id":"us-md/md.-code-commercial-law-12-610","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 12–610","heading":"","body":"Except as provided in § 12-609 of this subtitle as to a motor vehicle, and notwithstanding the provisions of any other statutory law, in the retail sale of consumer goods bought under an installment sale agreement, including any add-on contract described in § 12-618 of this subtitle, the finance charge may not exceed the greater of:\n(1) An amount computed using the following annual simple interest rates of finance charge:\n(i) 22 percent on that part of the outstanding balance not exceeding $1,000; and\n(ii) 18 percent on that part of the outstanding balance exceeding $1,000; or\n(2) A minimum charge of $10 or, if the date of the last installment is eight months or less after the effective date of the installment sale agreement, $8.\n(3) Notwithstanding the provisions of subsection (1) of this section, a seller may charge a finance charge at a rate not in excess of 24 percent per annum simple interest on the outstanding balance under an installment sale agreement made on or after July 1, 1982.","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=12-610","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"f8bfe783eb8f5a8821d635dccd88dbd9e4bcfc11d1184d49fc7bf8290e37ef39","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-12-609","next":"us-md/md.-code-commercial-law-12-610.1"},"notice":"GroundRules: Original legal text. Not legal advice."}