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Debt Laws | Federal
Laws | Consumer Protection
State Laws
Maryland Retail Credit Accounts
Commercial Law Article
Title 12. Credit Regulations
Subtitle 5. Retail Credit Accounts
(a) In this subtitle the following words have the meanings indicated.
(b) "Account" means a retail credit account.
(c) (1) "Buyer" means a person who, under a retail credit account transaction, buys goods or obtains services from a seller not principally for the purpose of resale.
(2) "Buyer" includes:
(i) A person who enters into a prior agreement with a financial institution by which the financial institution agrees to pay the debts of the buyer as they accrue at various retail sellers designated by the financial institution, in consideration of which the buyer pays to the financial institution the cash sale price and the finance charge; and
(ii) A prospective buyer.
(d) (1) "Cash sale price" means the price for which the seller would sell or furnish to the buyer the goods or services which are the subject of a retail credit account if the sale were a sale for cash and not under the account.
(2) "Cash sale price" includes any taxes and charges for delivery, installation, servicing, repair, alteration, or any improvement which is supplied or rendered in connection with the sale.
(e) "Closed end account" means a retail credit account in which the finance charge is computed in advance and assessed on the original unpaid balance of the purchase price.
(f) "Finance charge" means the amount, however expressed, in excess of the cash sale price which a seller or financial institution charges a buyer for the privilege of purchasing goods or services in a retail credit account transaction.
(g) (1) "Financial institution" means a person who enters into an agreement with a buyer by which the person agrees to extend credit to the buyer and apply it as directed by him by use of a credit card which the person issues to the buyer.
(2) "Financial institution" includes an incorporated bank, savings institution, and trust company.
(h) (1) "Goods" means any tangible personal property purchased primarily for personal, family, or household purposes, including any certificate or coupon exchangeable for it.
(2) "Goods" includes goods which at or after the time of sale are affixed to real property or become a part of it, whether or not severable from it.
(3) "Goods" does not include any:
(i) Tangible personal property purchased primarily for industrial, commercial, or agricultural purposes;
(ii) Motor vehicle, as defined in the State Motor Vehicle Law; or
(iii) Home improvement, as defined in the Maryland Home Improvement Law, or any transaction under that law.
(i) "Holder" means a person, including a seller and a financial institution, entitled to enforce a retail credit account against a buyer.
(j) "Open end account" means a retail credit account in which the finance charge is assessed on the outstanding balances from month to month.
(k) "Person" includes an individual, corporation, business trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.
(l) (1) "Retail credit account" means an agreement or transaction for the retail sale of goods or services, which is negotiated or entered into and pursuant to which a time sale price is established.
(2) "Retail credit account" includes credit card financing by a financial institution.
(m) "Seller" means a person regularly engaged in the business of selling goods to retail buyers.
(n) (1) "Services" means work, labor, and services furnished primarily for personal, family, or household purposes.
(2) "Services" includes:
(i) Services furnished in connection with the improvement of real property; and
(ii) Contributions to a "charitable organization" as defined in the Maryland Charitable Solicitations Act.
(3) "Services" does not include any:
(i) Work, labor, or service furnished primarily for industrial, commercial, or agricultural purposes; or
(ii) Service for which the tariff, rate, charge, cost, or expense, including in each instance the time sale price, is required by law to be filed with or approved by the United States, the State, or any department, division, commission, or agency of either.
(o) "Time sale price" means the total of the cash sale price and the amount of the finance charge.
(a) Each retail credit account established after May 31, 1967 shall comply with this subtitle.
(b) (1) Notwithstanding any situs of contract specified in it, a retail credit account is made in this State and is subject to this subtitle if:
(i) The seller offers or agrees in this State to sell to a resident buyer of this State; or
(ii) The resident buyer of this State accepts or makes the offer in this State to buy.
(2) A verbal or written solicitation or communication to sell that originates outside the State but that is forwarded to and received in the State by a resident buyer of this State shall be construed as an offer or agreement to sell in this State.
(3) A verbal or written solicitation to buy that originates in this State from a resident buyer of this State and that is forwarded to and received by a retail seller outside this State shall be construed as an acceptance or offer to buy in this State.
(c) This subtitle does not apply to an installment sale agreement, as defined in § 12-601 of this title, relating to goods, as defined in that section, regardless of the cash sale price of the goods.
(a) A retail credit account may be established by a seller or financial institution only on the request of a buyer or with his consent.
(b) (1) A seller or financial institution may not discriminate solely on the basis of sex, marital status, geographic area of residence, neighborhood of residence, or age against a buyer who wishes to establish an account. Refusal to establish an account for a buyer who is under the age of 18 is not discrimination solely on the basis of age.
(2) An application, questionnaire, or other written document used to establish credit for an applicant may not contain any reference to the race, creed, color, or national origin of the applicant.
(3) An investigation made for the purpose of establishing credit for an applicant may not contain any information pertaining to the race, creed, color, or national origin of the applicant.
(c) For the purpose of considering the eligibility of a buyer for an extension of credit, a seller or financial institution shall consider alimony or child support awarded by a court and received by the buyer as income to the buyer.
(d) (1) If a seller or financial institution establishes an account for the use of a buyer, the seller or financial institution shall confirm the fact to the buyer in writing. The confirmation shall be in type no smaller than elite typewriter characters and shall contain:
(i) A clear and understandable statement of the amount or the rate of the finance charge;
(ii) A legend that the buyer may pay at any time the entire balance without incurring any additional charge for prepayment;
(iii) A statement which advises the buyer of his right under § 12-510 of this subtitle to an answer to a written inquiry concerning the status of his account; and
(iv) Unless set out in a copy of the application form delivered to the buyer, the legend required by subsection (e)(2) of this section.
(2) If no copy of the confirmation is retained by the seller or financial institution, a notation in the permanent records of the seller or financial institution which shows that the confirmation was mailed and the date of mailing is admissible as evidence of the mailing.
(e) (1) A retail credit account agreement shall be in writing and either:
(i) Signed by the buyer; or
(ii) The seller or financial institution shall have made a reasonable attempt to obtain the signature of the buyer to the agreement.
(2) A legend stating that finance charges will be made in amounts or at rates not in excess of those permitted by law shall be printed in type no smaller than elite typewriter characters in both:
(i) The application form used by the seller or financial institution; and
(ii) A copy of either the application form or the confirmation delivered or mailed to the buyer when the retail credit account is established.
(f) Before the first payment on an account is due, other than any down payment, and within 40 days after each purchase, the holder of a retail credit account shall inform the buyer in writing of:
(1) The cash sale price of the goods or services purchased;
(2) The amount of any down payment;
(3) A general description of the type of goods or services and the date of each purchase;
(4) If the account is a closed end account:
(i) The amount of the finance charge;
(ii) The time sale price;
(iii) The amount of each installment due, expressed in dollars; and
(iv) The time or period of the payment of each installment; and
(5) If the account is an open end account:
(i) The amount or the rate of the finance charge on the outstanding balance; and
(ii) The method of determining the outstanding balance pursuant to § 12-506(c) of this subtitle.
(g) Unless the buyer previously received written notice by coupon, book, or otherwise of the amount of the payment and the amount of the unpaid balance after the payment, the holder of a retail credit account shall inform the buyer in writing, within 40 days after each payment, of:
(1) The total amount remaining due to the seller; and
(2) The total amount paid by the buyer since the last written notice.
(h) The buyer under an open end retail credit account may request in writing, not more frequently than once each year, that the holder of the account inform the buyer of the total amount of finance charges assessed on the account during the preceding calendar year and the holder shall so advise the buyer in writing within 30 days of the request.
(i) The holder of a retail credit account shall disclose his address and telephone number on each billing statement for the use of the buyer for status and billing inquiries under §§ 12-510 and 12-511 of this subtitle.
(j) Except as otherwise provided in this section, the information required by this section may be stated in any sequence, order, or form and in one or more documents. Additional items may be included with the information to explain the computations made in determining the amount to be paid by the buyer.
(a) Notwithstanding any other statutory law, a seller, financial institution, or the successor in interest of either may charge, collect, and receive under a retail credit account a finance charge, however described, not to exceed the amounts permitted in §§ 12-505 and 12-506 of this subtitle.
(b) If the date of performance or delivery of an item or service is more than 10 days from the date of purchase, the finance charge shall be computed from the date of performance or delivery.
(a) In a closed end account, the finance charge may not exceed the greater of:
(1) An amount computed using the following annual simple interest rates of finance charge:
(i) 22 percent on that part of the outstanding balance not exceeding $1,000; and
(ii) 18 percent on that part of the outstanding balance exceeding $1,000; or
(2) A minimum charge of $10 or, if the due date of the last installment is eight months or less after the effective date of the retail credit account agreement, $8.
(3) Notwithstanding the provisions of paragraph (1) of this subsection, in a closed end account made on or after July 1, 1982, the finance charge may not exceed 24 percent per annum simple interest.
(b) (1) In a closed end account, the finance charge may be computed:
(i) On the actual unpaid principal outstanding from time to time; or
(ii) In advance, at the time the purchase is made, by adding to the original unpaid balance the amount of finance charge that would be earned if the account were repaid exactly according to its terms at the rate stated in subsection (a) of this section.
(2) Nothing in this section shall be construed to prohibit any particular method of computing the finance charge on a closed end account so long as the amount of the finance charge does not result in a rate of charge in excess of that permitted by subsection (a) of this section.
(c) Amounts due under a closed end account may be payable in successive monthly, semimonthly, or weekly installments.
(d) As part of the regular practice of a holder, he may include fractional periods of 15 days or more as a whole month if he also entirely excludes fractional periods of 14 days or less.
(e) (1) A buyer may prepay at any time, without penalty, all or any part of the outstanding balance of a closed end account.
(2) Except as provided in paragraph (4) of this subsection, if the buyer pays the balance in full before maturity, the holder immediately shall refund to him a portion of the finance charge, including the charge provided in subsection (a)(2) of this section.
(3) The amount of the refund shall be calculated in accordance with subsection (g) of this section.
(4) If a prepayment is made, the holder is entitled to retain a finance charge of at least $6. If the amount of credit for prepayment is less than $1, no refund need be made.
(f) (1) The holder of a closed end account on which the finance charge is computed in advance may:
(i) By agreement with the buyer, extend the scheduled due date or defer the scheduled payment of all or part of the installments payable under it; and
(ii) Charge the buyer an extension or deferral charge.
(2) The extension or deferral charge may not exceed an amount equal to 1 percent per month of the amount extended or deferred for the period of extension or deferral.
(3) The period of extension or deferral may not exceed the period from the date when the extended or deferred amount would have been payable in the absence of the extension or deferral to the date when the amount is made payable under the agreement of extension or deferral.
(g) If interest charged pursuant to this subtitle in respect of a loan to a buyer has been precomputed, then, in the event of prepayment of the entire loan, the holder shall refund or credit to the buyer the unearned portion of the precomputed interest charge. This refund or credit shall be in an amount not less than the amount which would be refunded or credited if the unearned precomputed interest charge were calculated in accordance with the actuarial method, except that the buyer may not be entitled to a refund or credit of less than $5. The unearned portion of the precomputed interest charge is, at the option of the holder, either:
(1) That portion of the precomputed interest charge which is allocable to all originally scheduled or, if deferred, all deferred payment periods, or portions of payment periods, ending subsequent to the date of prepayment. The unearned precomputed interest charge is the total of that which would have been earned for each period, or portion of a period, had the loan not been precomputed, by applying to the unpaid balances of principal, according to the actuarial method, an annual percentage rate based on the precomputed interest charges, assuming that all payments were made as scheduled, or as deferred, if deferred. The holder at its option, may round this annual percentage rate to the nearest 1/4 of 1 percent; or
(2) The total precomputed interest charge less the earned precomputed interest charge. The earned precomputed interest charge shall be determined by applying an annual percentage rate based on the total precomputed interest charge, under the actuarial method, to the unpaid balances for the actual time those balances were unpaid up to the date of prepayment.
Any closed end account made prior to July 1, 1982 which is refinanced at a higher rate pursuant to § 12-505(a)(3) of this subtitle must comply with the following requirements:
(1) The holder must give the following disclosure in writing to the buyer prior to the execution by the buyer of the new retail credit account agreement:
If you do agree to consolidate your existing account, you will be paying an annual percentage rate of ..... on the existing net balance of $........, instead of the rate of ....... which you are now paying.
Schedule of Monthly Payments
Separate Account Agreements Consolidated Account Agreement
$....... per month for
the next ....... months
then
$....... per month for
....... months after that
$....... per month for
the next ....... months
Total of Payments
Separate Account Agreements Consolidated Account Agreement
$....... total of
payments for your
existing account
....... total of payments
for your new account
$....... total of
payments for your
consolidated account
(2) The holder must allow the buyer the choice of repaying his existing account balance at the originally agreed upon rate and obtaining any additional extension of credit as a separate account, notwithstanding any law which limits the holder's ability to establish more than 1 account for the same buyer;
(3) An account may be refinanced only upon the buyer's request;
(4) The holder must refund or credit to the buyer's account any unearned finance charge and any returned insurance premiums upon the cancellation of insurance sold in connection with the obligation;
(5) The holder must allow the buyer the right to cancel the consolidated purchase agreement within 3 business days and to elect the separate account option pursuant to subsection (2). The holder shall provide to the buyer conspicuous notice of the provisions of this subsection; and
(6) Nothing in this subsection shall prohibit the receipt of goods or services by the buyer at the time the consolidated purchase agreement is made.
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.
With respect to a closed end retail credit account established at a rate pursuant to § 12-505(a) of this subtitle, the agreement may not provide for a balloon payment.
(a) In an open end account:
(1) The finance charge may not exceed 1.5 percent a month on that part of the outstanding balance not exceeding $700;
(2) The finance charge may not exceed 1 percent per month on that part of the outstanding balance exceeding $700;
(3) Notwithstanding the provisions of paragraphs (1) and (2) of this subsection, the finance charge may not exceed 2 percent per month on that part of the outstanding balance originating on or after July 1, 1982;
(4) Including a credit card plan that provides for sales, cash advances, or both, the buyer or borrower may not be required to pay a membership fee for the privilege of participating in the plan;
(5) If made at a rate pursuant to paragraph (3) of this subsection, the seller or holder may not contract for, charge, or receive any compounded interest or compounded finance charge; and
(6) A seller or financial institution may assess either, but not both:
(i) A finance charge equal to the rate of interest charged on past due accounts as provided in the agreement; or
(ii) A late payment charge.
(b) In an open end account, if a finance charge is applied to all outstanding balances within a range not exceeding $10, the finance charge may be computed on the basis of the median amount within the range.
(c) For the purpose of computing the outstanding balance of an open end account subject to the finance charge, the outstanding balance:
(1) On any day may not exceed the sum of the total charges to the account less the amounts paid or credited to the account before that day; or
(2) May be computed by the average daily balance method except that a finance charge may not be assessed on an account if the outstanding balance is paid in full 25 days after the billing cycle.
(d) In an open end account, (1) the finance charge in any given month may not exceed an amount which may be assessed pursuant to subsection (c)(2) of this section; and (2) if there is no balance at the beginning of a billing cycle, a finance charge may not be assessed on any charge added to the account during that billing cycle from the date of purchase to the end of that billing cycle.
(e) A finance charge for a monthly period may not be imposed on an open end account unless the periodic statement for that month is mailed to the buyer at least 15 days before the end of the next billing cycle.
(f) (1) If a seller or financial institution establishes two or more open end accounts for an individual buyer, the seller or financial institution may not impose a higher rate of finance charge than would be obtained if there was but one open end account between the buyer and the seller or financial institution.
(2) A seller does not establish two open end accounts within the meaning of this subsection solely because the seller accepts payment from a financial institution, as directed by a buyer by use of a credit card issued to the buyer by the financial institution, and also establishes an account directly payable to him by the buyer.
(g) Regardless of the date of actual posting of a payment to an account, the payment shall be credited to the customer's account as of the date the payment is received by the creditor, and no finance charge, late payment charge, or other charge shall be imposed with respect to the amount of the payment which is properly received by the creditor on or before the time indicated by the creditor as necessary to avoid imposition thereof, provided that:
(1) If a creditor fails to post the customer's payment in time to avoid the imposition of finance charges, late payment charges, or other charges, the creditor shall adjust the customer's account so that the finance charges, late payment charges, or other charges are credited to the account during the customer's next billing cycle.
(2) For the purposes of paragraph (g) of this section the creditor may specify on the periodic statement or on accompanying material that need not be retained by the customer, reasonable requirements with respect to the form, amount, manner, location, and time for receipt of payments, except that:
(i) If no particular hour of the day has been clearly specified by the creditor as the time by which payment must be received by the creditor in order to obtain crediting to the customer's account as of that date, payments received prior to the close of business on that day must be credited as of that date;
(ii) If no location(s) has been clearly specified as the location(s) at which payment may be made, then payment at any location where the creditor conducts business shall be credited as of the date payment is presented; and
(iii) If no particular manner of payment has been clearly specified, then payment by check, cash, money order, bank draft or other similar instrument in properly negotiable form shall constitute proper manner of payment.
(3) If the creditor accepts payment at locations other than those specified under paragraph (g)(2)(ii) of this section, the creditor shall credit the customer's account promptly (in no case later than five days from the date of receipt), provided that the possibility of the delay is clearly disclosed to the customer on the periodic statement or on accompanying material that need not be retained by the customer.
(4) Payments need not be credited as of the date of receipt (but in any case must be credited promptly) if a delay in crediting does not result in the imposition of any finance charges, late payment charges, or other charges for that billing cycle or a later billing cycle.
(h) (1) A seller or financial institution that imposes a finance charge in connection with an open end account may not directly or indirectly contract for, charge, or receive from the buyer any finance charge, discount, fine, commission, charge, brokerage, or other consideration on that account in excess of that permitted by this section.
(2) If a credit card plan allows for both purchases and the extension of cash advances, the charges prohibited by this section may not be imposed as to either function.
(a) In this section "credit balance" means a balance on an open end retail credit account which indicates that the buyer has made payments or obtained refunds in excess of charges, resulting in a credit due to the buyer.
(b) If there is a credit balance in excess of $1 on any retail credit account:
(1) The holder shall send to the buyer a monthly statement which indicates the amount of the credit balance; and
(2) If the credit balance remains the same after four consecutive monthly statements, the holder shall send to the buyer a check or money order in the full amount of the credit balance.
(c) The provisions of this section shall apply only to credit balances remaining the same after four consecutive monthly statements for billing periods commencing after July 1, 1975.
Changes in the rate applicable to an open end account, including a credit card plan which provides for sales, cash advances, or both, are limited as follows:
(1) Any balance existing before July 1, 1982 is to be repaid at the then applicable rate of interest or finance charge regardless of any subsequent increase in the rate applicable to the account.
(2) If the rate applicable to any balance for which the borrower or buyer becomes obligated on or after July 1, 1982 is increased, the borrower or buyer may repay the existing balance at the rate in effect prior to the time the increase becomes effective. If the borrower or buyer increases the balance of his account by making purchases or requesting cash advances, the increased rate shall apply only to the portion of the balance incurred after the rate increases.
(a) If, as part of a retail credit account, a promissory note is taken by the seller or financial institution, the note shall refer to the account out of which it arises.
(b) The note may not contain a confession of judgment or any power of attorney to appear for the buyer or for any surety or guarantor for the buyer to confess judgment.
(c) If the note is assigned, it is subject to all defenses which the buyer might have asserted against the seller or financial institution.
If a retail credit account agreement provides for the payment of attorney's fees, that provision may permit the holder only to receive reasonable attorney's fees to be set by a court in the event of the filing of suit.
Notwithstanding any agreement to the contrary between a seller and the issuer of a credit card, the seller is permitted to offer a cash discount to consumers who pay cash instead of using the credit card.
If a buyer inquires in writing about the status of his account and the holder fails to answer the inquiry in clear and definite terms within 60 days after receiving it, the buyer is not required to pay a finance charge for that 60-day period or for any further period during which the holder fails to so answer.
(a) In this section, "billing error" means the initial occurrence of an error in a billing statement given to a buyer by the holder of an account, which error results from:
(1) An omission or commission by the holder in posting any debit or credit;
(2) The computation of any amount; or
(3) Any similar error of an accounting nature.
(b) The provisions of this section do not apply to a status inquiry made under § 12-510 of this subtitle if a billing error is not asserted by the buyer.
(c) If, on receipt of a billing statement from a holder, a buyer believes the billing is in error, he may inquire as to the computation of the statement. The inquiry by the buyer shall:
(1) Be made within 60 days of receipt of the billing statement which contains the claimed error;
(2) Be in writing and sent to the holder by mail at the address designated on the statement pursuant to § 12-503(i) of this subtitle; and
(3) Set forth sufficient information to enable the holder to identify:
(i) The buyer and the account;
(ii) The amount and transaction shown in the billing statement which the buyer in good faith believes to be a billing error; and
(iii) The facts providing the basis for the buyer's belief that the billing statement is in error.
(d) On receipt of an inquiry under this section, the holder shall:
(1) Within 30 days after its receipt, mail a written acknowledgement to the buyer; and
(2) Within 60 days after its receipt, before taking any action to collect the amount believed by the buyer to be a billing error:
(i) Make appropriate corrections in the account and mail to the buyer a written notice which states that the amount believed to be in error has been corrected and will be so shown on the next billing statement mailed to him; or
(ii) Send to the buyer a written notice which sets forth in a clear and definitive manner the reasons why the holder believes that the account was correctly shown in the statement.
(e) Notwithstanding the receipt of an inquiry, the holder may:
(1) Transmit to the buyer regular periodic billing statements which include the amount believed by the buyer to be a billing error; and
(2) Undertake collection of any amount which the buyer does not dispute under this section.
(f) On or before the first billing statement for a new account, the holder shall send to the buyer a written notice which describes the procedures to be followed by a buyer under this section to claim a billing error.
(g) On receipt of an inquiry under this section, until the holder has complied with the provisions of this section, he may not communicate to any person, including any credit bureau or credit reporting agency, unfavorable credit information concerning the buyer and based on the buyer's failure to pay the amount believed by him to be a billing error.
(h) If a holder of an account receives a written inquiry from a buyer under this section and fails to comply with the requirements of this section, then:
(1) If the disputed amount is not a billing error, the holder:
(i) May proceed to collect the disputed amount; and
(ii) Shall forfeit the right to collect any finance charge assessed on the account in connection with the disputed amount from the date of the mailing of the written inquiry to the date the holder complies with this section; or
(2) If the disputed amount is a billing error, the holder:
(i) May not collect the amount of the error or any finance charge on that amount; and
(ii) Is liable to the buyer for his actual damages sustained as a result of the failure of the holder to comply with this section.
A holder may not charge a buyer a fee for any reply to an account status inquiry or billing status inquiry made under § 12-510 or § 12-511 of this subtitle.
No act, agreement, or statement of a buyer may constitute a valid waiver of any benefit or protection provided to him under this subtitle.
(a) Except as provided in subsection (b) of this section, if a holder violates any provision of this subtitle, no holder may collect or receive any finance charge from the buyer.
(b) (1) If the seller or any subsequent holder unintentionally and in good faith fails to comply with any provision of §§ 12-504 through 12-507 of this subtitle, the holder may correct the error within 10 days after:
(i) He notices it; or
(ii) The buyer notifies him in writing of the error.
(2) If the holder corrects the error within the 10-day period, he may not be subject to any penalty under this subtitle.
(a) If a complaint for violation of any provision of this subtitle is filed with the Commissioner of Financial Regulation, he may investigate the complaint and hold a hearing on it in accordance with § 11-413 of the Financial Institutions Article.
(b) The Commissioner shall give to the person complained against at least 10 days' written notice of the complaint and the time and place of any hearing. The notice shall be in writing and sent by registered or certified mail to his principal place of business.
(c) (1) If, after the hearing, the Commissioner finds that the person has engaged or is engaging in any act or practice prohibited by this subtitle, he shall order the person to cease and desist from the act or practice.
(2) The order of the Commissioner shall comply with the Administrative Procedure Act.
(d) (1) If no appeal is filed, the order becomes final after expiration of the time allowed by the Administrative Procedure Act for appeals from the Commissioner's orders.
(2) If an appeal is filed, the order becomes final after final decision of the court affirming the order or dismissing the appeal.
(e) For purposes of this section, the Commissioner's order may not apply to any:
(1) Incorporated bank, savings institution, or trust company; or
(2) A savings and loan association.
Any person who knowingly violates or participates in the violation of any provision of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $100 for the first offense and not exceeding $500 for any subsequent offense.
MD Maryland Official State Statutes
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