Section 12-607 – Provisions Not Allowed in Instruments
(a) A holder may not take or receive any instrument from a buyer or a surety for a buyer, which contains: (1) Except as provided in subsection (b) of this section, any blank space to be filled in after the instrument is signed by a party to it; (2) A confession of judgment or any power of attorney […]
Section 12-508 – Attorney’s Fees
If a retail credit account agreement provides for the payment of attorney’s fees, that provision may permit the holder only to receive reasonable attorney’s fees to be set by a court in the event of the filing of suit.
Section 12-509 – Discount to Consumer Paying Cash
Notwithstanding any agreement to the contrary between a seller and the issuer of a credit card, the seller is permitted to offer a cash discount to consumers who pay cash instead of using the credit card.
Section 12-510 – Failure to Answer Status Inquiry
If a buyer inquires in writing about the status of his account and the holder fails to answer the inquiry in clear and definite terms within 60 days after receiving it, the buyer is not required to pay a finance charge for that 60-day period or for any further period during which the holder fails […]
Section 12-511 – Billing Statement Inquiry
(a) In this section, “billing error” means the initial occurrence of an error in a billing statement given to a buyer by the holder of an account, which error results from: (1) An omission or commission by the holder in posting any debit or credit; (2) The computation of any amount; or (3) Any similar error of an accounting […]
Section 12-511.1 – Charge for Reply to Inquiry
A holder may not charge a buyer a fee for any reply to an account status inquiry or billing status inquiry made under § 12-510 or § 12-511 of this subtitle.
Section 12-512 – Waiver by Buyer Invalid
No act, agreement, or statement of a buyer may constitute a valid waiver of any benefit or protection provided to him under this subtitle.
Section 12-513 – Violation of Subtitle
(a) Except as provided in subsection (b) of this section, if a holder violates any provision of this subtitle, no holder may collect or receive any finance charge from the buyer. (b) (1) If the seller or any subsequent holder unintentionally and in good faith fails to comply with any provision of §§ 12-504 through 12-507 of this […]
Section 12-514 – Jurisdiction of Commissioner of Financial Regulation
(a) If a complaint for violation of any provision of this subtitle is filed with the Commissioner of Financial Regulation, he may investigate the complaint and hold a hearing on it in accordance with § 11-413 of the Financial Institutions Article. (b) The Commissioner shall give to the person complained against at least 10 days’ written notice […]
Section 12-515 – Penalties
Any person who knowingly violates or participates in the violation of any provision of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $100 for the first offense and not exceeding $500 for any subsequent offense.