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§ 15-702. Conditions for offsets

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 15. Debt Collection--Special Provisions
Subtitle 7. Offsets (Refs & Annos)
MD Code, Commercial Law, § 15-702
§ 15-702. Conditions for offsets
For the purposes of this article, a bank or financial institution may not offset any property in its possession or money from a customer's savings or checking account for the settlement of a delinquent consumer debt unless:
(1) The offset is authorized in writing by the customer; or
(2) A court order is obtained to permit the offset.

Credits

Added by Acts 1975, § 1, eff. Oct. 1, 1975.
MD Code, Commercial Law, § 15-702, MD COML § 15-702
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