§ 2A-109. Option to accelerate at will
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 2A-109
§ 2A-109. Option to accelerate at will
(1) A term providing that one party or his (or her) successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or “when he (or she) deems himself (or herself) insecure” or in words of similar import must be construed to mean that he (or she) has power to do so only if he (or she) in good faith believes that the prospect of payment or performance is impaired.
Credits
Added by Acts 1994, c. 535, § 1, eff. Jan. 1, 1995. Amended by Acts 1995, c. 3, § 1, eff. March 7, 1995.
MD Code, Commercial Law, § 2A-109, MD COML § 2A-109
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document |