(a) If, as part of an installment sale, a promissory note is taken by a seller or sales finance company, the note shall refer to the agreement out of which it arises.
(b) If the note is assigned, it is subject to all defenses which the buyer might have asserted against the seller or sales finance company, except that an acknowledgment by the buyer of delivery of a copy of the agreement pursuant to § 12-605 of this subtitle is conclusive proof of the delivery in favor of an assignee of the note without actual knowledge to the contrary.
Structure Maryland Statutes
Subtitle 6 - Retail Installment Sales
Section 12-602 - False Advertising Prohibited
Section 12-603 - Discrimination Prohibited
Section 12-604 - Form of Installment Sale Agreement
Section 12-605 - Delivery of Installment Sale Agreement and Receipt; Right to Cancel
Section 12-606 - Disclosures Required in Installment Sale Agreement
Section 12-607 - Provisions Not Allowed in Instruments
Section 12-609 - Motor Vehicles
Section 12-610 - Consumer Goods -- Maximum Finance Charge
Section 12-610.1 - Consumer Goods -- Refinancing of Agreement at Higher Rate
Section 12-610.2 - Consumer Goods -- Change in Finance Charge Prohibited
Section 12-612 - Consumer Goods -- Prepayment
Section 12-614 - Additional Charges
Section 12-615 - Refund of Deposit
Section 12-616 - Credit for Recording and Filing Fees
Section 12-617 - Payments and Receipts
Section 12-618 - Add-on Contract
Section 12-619 - Extension of Due Date or Deferral of Payments
Section 12-621 - Statement of Account
Section 12-622 - Cancellation of Contract and Release of Security
Section 12-623 - Delinquency Charge; Attorney's Fees and Court Costs
Section 12-624 - Repossession -- Holder's Right to Repossess
Section 12-625 - Repossession -- Buyer's Right of Redemption
Section 12-626 - Repossession -- Resale of Goods
Section 12-627 - Repossession -- Discharge of Agreement in Absence of Resale
Section 12-628 - Promissory Note
Section 12-629 - Waiver by Buyer Invalid
Section 12-630 - Violation of Subtitle
Section 12-631 - Jurisdiction of Commissioner of Financial Regulation