Section 12-1101 - Definitions(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.Amended by 2013 Md. Laws, Ch. 294,Sec. 1, eff. 10/1/2013.