CHAPTER 156

AN ACT TO AMEND CHAPTER 29, TITLE 5, DELAWARE CODE, RELATING TO FINANCING THE SALE OF MOTOR VEHICLES, TO PERMIT DISCLOSURE OF TERMS OF RETAIL INSTALLMENT CONTRACTS IN CONFORMANCE WITH THE FEDERAL TRUTH IN LENDING ACT.

Be it enacted by the General Assembly of the State of Delaware:

Section 1. Chapter 29, Title 5, Delaware Code, is hereby amended by adding a new Section 2912 to read as follows:

§ 2912. Disclosure requirements

Notwithstanding any provision of this Chapter to the contrary, disclosures made in the terminology of the Truth in Lending Act, as amended, (Title I of Public Law 90-321; 82 Stat. 146), and regulations prescribed thereunder, shall be deemed to comply with comparable, but literally inconsistent disclosure requirements of this Chapter; provided, however, that any charges otherwise authorized under this Chapter may be contracted for and collected in amounts and at rates consistent with the provisions of this Chapter without regard to any inconsistent terminology of said Truth in Lending Act and this Chapter.

Approved June 23, 1969.