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2020 Maryland Statutes
Commercial Law
Title 12 - Credit Regulations
Subtitle 9 - Credit Grantor Revolving Credit Provisions
Section 12-911 - Attorney's Fees; Court or Other Collection Costs
Universal Citation:
MD Commercial Law Code Ann. § 12-911 (2020)
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This media-neutral citation is based
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(a) If a borrower defaults under the terms of a plan and the credit grantor refers the borrower’s account to an attorney who is not a salaried employee of the credit grantor for collection, the credit grantor may, if the agreement governing the revolving credit plan permits, charge and collect from the borrower a reasonable attorney’s fee.
(b) If the agreement governing the revolving credit plan permits, the credit grantor may recover from the borrower all court or other collection costs actually incurred by the credit grantor relating to the borrower’s default.
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