- (a) If, as part of a retail credit account, a promissory note is taken by the seller or financial institution, the note shall refer to the account out of which it arises.
- (b) The note may not contain a confession of judgment or any power of attorney to appear for the buyer or for any surety or guarantor for the buyer to confess judgment.
- (c) If the note is assigned, it is subject to all defenses which the buyer might have asserted against the seller or financial institution.
Added by Acts 1975, c. 49, § 3, eff. July 1, 1975.
Formerly Art. 83, § 153D.