Section 14-1906 – Contract With Consumer
(a) Every contract between a consumer and a credit services business for the purchase of the services of the credit services business shall: (1) Be in writing, dated, and signed by the consumer; (2) For a credit services business providing the services described in § 14–1901(e)(1)(i) of this subtitle, include: (i) A conspicuous statement in size equal to at […]
Section 14-1907 – Violations; Void Contracts; Waivers; Burden of Proof
(a) Any breach by a credit services business of a contract under this subtitle, or of any obligation arising under it, shall constitute a violation of this subtitle. (b) Any contract for services from a credit services business that does not comply with the applicable provisions of this subtitle shall be void and unenforceable as contrary to […]
Section 14-1901 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Commissioner” means the Commissioner of Financial Regulation of the Maryland Department of Labor. (c) “Consumer” means any individual who is solicited to purchase or who purchases for personal, family, or household purposes the services of a credit services business. (d) “Consumer reporting agency”, “consumer report”, “investigative consumer […]
Section 14-1902 – Duties
A credit services business, its employees, and independent contractors who sell or attempt to sell the services of a credit services business shall not: (1) Receive any money or other valuable consideration from the consumer, unless the credit services business has secured from the Commissioner a license under Title 11, Subtitle 3 of the Financial Institutions […]
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 14-1904 – 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 […]