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2021 Maryland Statutes
Commercial Law
Title 12 - Credit Regulations
Subtitle 5 - Retail Credit Accounts
Section 12-505.2 - Maximum Finance Charge -- Closed End Account -- Change in Finance Charge During Term of Account Prohibited
Universal Citation: MD. Commercial Law Code Ann. § 12-505.2 (2021)
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.
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