Section 14-1913 – Limitation of Actions for Enforcement of Liability
(a) An action to enforce any liability created under this subtitle shall be brought within 2 years from the date the violation at issue occurred. (b) Where a defendant has materially and willfully misrepresented any information required to be disclosed to a consumer by this subtitle and the information is material to establishing defendant’s liability, the action […]
Section 14-1914 – Actions Under Consumer Protection Act
(a) Each sale of the services of a credit services business that violates any provision of this subtitle is an unfair or deceptive trade practice under Title 13 of this article. (b) If the Division of Consumer Protection of the Office of the Attorney General has reason to believe that any credit services business, or any salesperson, […]
Section 14-1915 – Fines and Punishments
(a) Except as provided in subsection (b) of this section, any person who violates any provision of this subtitle is guilty of a misdemeanor and, on conviction, is subject to a fine not exceeding $5,000 or imprisonment not exceeding 3 years or both, in addition to any civil penalties. (b) A person may not be imprisoned for […]
Section 14-1916 – Short Title
This subtitle may be cited as the “Maryland Credit Services Businesses Act”.
Section 14-2001 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) (1) “Adjusted capitalized cost” means the amount which serves as the basis for determining the base lease payment, computed by subtracting from the capitalized cost any capitalized cost reduction. (2) “Adjusted capitalized cost” is amortized during the lease term to the estimated residual value by the application […]
Section 14-1903 – Application of Subtitle; Licenses
(a) Notwithstanding any election of law or designation of situs in any contract, this subtitle applies to any contract for credit services if: (1) The credit services business offers or agrees to sell, provide, or perform any services to a resident of this State; (2) A resident of this State accepts or makes the offer in this State […]
Section 14-1903.1 – Advertisements of Credit Services Business
A person who advertises a service described in § 14-1901(e)(1) of this subtitle, whether or not a credit services business, shall clearly and conspicuously state in each advertisement the number of: (1) The license issued under § 14-1903 of this subtitle; or (2) If not required to be licensed, the exemption provided by the Commissioner.
Section 14-1701 – Definitions
(a) In this subtitle the following terms have the meanings indicated. (b) (1) “Adverse action” means a denial or revocation of credit, a change in the terms of an existing credit arrangement, or a refusal to grant credit in substantially the amount or on substantially the terms requested. (2) “Adverse action” does not include a refusal to extend additional […]
Section 14-1904 – Information Statement
(a) This section does not apply to a credit services business providing the services described in § 14–1901(e)(1)(ii) of this subtitle. (b) Before either the execution of a contract or agreement between a consumer and a credit services business or the receipt by the credit services business of any money or other valuable consideration, the credit services […]
Section 14-1702 – Notice of Action Upon Application for Credit
(a) Notwithstanding any other provision of this article, within 30 days after receipt of a completed application for credit, a lender or credit grantor shall notify the applicant of its action on the application. (b) Notwithstanding any other provision of this article, if the lender or credit grantor has acted adversely against or denied an application for […]