Section 144April 13, 1992, Sec./Art. 144

Periodic Statement of Charges. – The periodic statement transmitted by the creditor in connection with any extension of consumer credit other than under an open-end consumer credit plan, shall set forth the following information:

a) the simple annual rate;

b) the effective interest rate;

c) the date by which, or the period (if any) within which payment must be made in order to avoid additional finance charges;

d) method of determining the balance upon which the finance charge may be imposed.