2010 Maryland Code
COMMERCIAL LAW
TITLE 12 - CREDIT REGULATIONS
Subtitle 10 - Credit Grantor Closed End Credit Provisions
Section 12-1018.1 - Civil penalties - Exception.

§ 12-1018.1. Civil penalties - Exception.
 

(a)  "Commissioner" defined.- In this section, "Commissioner" means the Commissioner of Financial Regulation. 

(b)  In general.- Except as provided in subsection (c) of this section, the penalty provided under § 12-1018(a)(2) of this subtitle does not apply if a credit grantor: 

(1) Performed or omitted to perform an act in conformity with or in reliance upon: 

(i) A written opinion of the Attorney General of Maryland or a regulation adopted by the Commissioner; 

(ii) A written opinion by the Commissioner or the Deputy Commissioner; or 

(iii) An interpretation by the Commissioner in a written notice or examination report; or 

(2) Used a form or procedure that has been approved in writing by the Commissioner and the Attorney General. 

(c)  Exceptions.- The provisions of subsection (b) of this section do not apply to an act or omission to act that occurs after: 

(1) The opinion, regulation, or interpretation relied on is amended, repealed, or determined to be invalid for any reason by any judicial or other authority; or 

(2) Approval for a form or procedure is amended, rescinded, or determined to be invalid for any reason by any judicial or other authority. 

(d)  Construction.- This section may not be construed to: 

(1) Limit the imposition of any civil or criminal penalty for a knowing or willful violation of this subtitle; or 

(2) Limit the power of the Commissioner or the courts to order a refund to a borrower of moneys collected in violation of this subtitle. 
 

[2008, ch. 34, § 2; ch. 35, § 2.]