Section 12-502 - Application of subtitle.
§ 12-502. Application of subtitle.
(a) Accounts required to comply.- Each retail credit account established after May 31, 1967 shall comply with this subtitle.
(b) Accounts with nonresident sellers.-
(1) Notwithstanding any situs of contract specified in it, a retail credit account is made in this State and is subject to this subtitle if:
(i) The seller offers or agrees in this State to sell to a resident buyer of this State; or
(ii) The resident buyer of this State accepts or makes the offer in this State to buy.
(2) A verbal or written solicitation or communication to sell that originates outside the State but that is forwarded to and received in the State by a resident buyer of this State shall be construed as an offer or agreement to sell in this State.
(3) A verbal or written solicitation to buy that originates in this State from a resident buyer of this State and that is forwarded to and received by a retail seller outside this State shall be construed as an acceptance or offer to buy in this State.
(c) Exceptions.- This subtitle does not apply to an installment sale agreement, as defined in § 12-601 of this title, relating to goods, as defined in that section, regardless of the cash sale price of the goods.
[An. Code 1957, art. 83, §§ 153B, 153C; 1975, ch. 49, § 3; 1977, ch. 119.]