Section 12-1402 – Subtitle Not Applicable to Merchant Processing Agreement Between Credit Card Processor and Business Entity Under Certain Conditions

    This subtitle does not apply to a merchant processing agreement between a credit card processor and a business entity:

        (1)    That may be terminated without assessment of fees, fines, penalties, or liquidated damages; or

        (2)    If at the time of entry into the merchant processing agreement, the business entity employs 50 or more employees or reasonably estimates that it will generate more than $2,000,000 in credit card or electronic commerce transactions each year.