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§ 12-919. Written accountings provided to consumers

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 12. Miscellaneous Institutions and Activities
Subtitle 9. Maryland Debt Management Services Act (Refs & Annos)
MD Code, Financial Institutions, § 12-919
§ 12-919. Written accountings provided to consumers
In general
(a) A licensee shall provide to each consumer with whom the licensee has a debt management services agreement a written accounting of:
(1) The amount of funds received from the consumer for payment to the consumer's creditors since the last report; and
(2) The amounts and dates of disbursements made to each creditor of the consumer since the last report.
Frequency of accountings
(b) A licensee shall provide the accounting required under subsection (a) of this section:
(1) At least once during each calendar quarter; and
(2) On cancellation or termination of the debt management services agreement.

Credits

Added by Acts 2003, c. 374, § 1, eff. Oct. 1, 2003; Acts 2003, c. 375, § 1, eff. Oct. 1, 2003.
MD Code, Financial Institutions, § 12-919, MD FIN INST § 12-919
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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