§ 15-502. Liability of creditor for assigned debt
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 15-502
§ 15-502. Liability of creditor for assigned debt
(a) If the creditor assigns or transfers the debt to a nonresident in violation of § 15-501 of this subtitle and the debt is collected by the assignee outside the State, the creditor is liable to the debtor for the full amount of the debt including collected interest and costs. In addition, the creditor forfeits his right to exempt his own wages or property from execution if a writ of execution is issued against him for collection of these amounts.
Credits
Added by Acts 1975, c. 49, § 3, eff. July 1, 1975.
Formerly Art. 83, §§ 15, 16.
MD Code, Commercial Law, § 15-502, MD COML § 15-502
Current through legislation effective through July 1, 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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