Section 15-701 – Definitions

    (a)    In this subtitle the following words have the meanings indicated.     (b)    “Consumer debt” means any debt arising from a transaction for consumer goods as defined in § 9-109 of this article.     (c)    “Offset” means the seizure by a bank of personal property, belonging to a customer, in the bank’s possession or under its control on deposit to […]

Section 15-702 – Offsets Against Consumer Debts Prohibited

    For the purposes of this article, a bank or financial institution may not offset any property in its possession or money from a customer’s savings or checking account for the settlement of a delinquent consumer debt unless:         (1)    The offset is authorized in writing by the customer; or         (2)    A court order is obtained to permit the […]