Maryland Commercial Law Section 12-114

      (a)      (1)      Any person who violates the usury provisions of this subtitle shall forfeit to the borrower the greater of:

                  (i)      Three times the amount of interest and charges collected in excess of the interest and charges authorized by this subtitle; or

                  (ii)      The sum of $500.

            (2)      A claim or plea of usury is not valid if, within 30 days from the date the loan contract was executed, the lender:

                  (i)      Notifies the borrower and any other party to the loan contract that the loan was usurious; and

                  (ii)      Agrees to modify it by substituting for the usurious rate of interest a legal rate of interest not exceeding the stated rate of interest.

      (b)      Any person who violates the disclosure provisions of § 12-106 (b) and (c) of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding one year or both.

      (c)      Even if a loan document is executed outside of the State, this section is applicable if the loan is made to a resident of Maryland and is secured by property located within the State.