Md. Code, Com. § 12-505.2

Current with changes from the 2024 Legislative Session

Section 12-505.2 - Maximum finance charge - Closed end account - Change in finance charge during term of account prohibited

A seller or holder may not enter into a closed end retail credit account agreement, providing for an initial rate of finance charge pursuant to § 12-505(a)(3) of this subtitle, which contains a provision that permits the seller or holder to increase or decrease the applicable rate of finance charge from time to time during the term of the account.

Md. Code, CL § 12-505.2