§ 12-1016. Complaints
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 12-1016
§ 12-1016. Complaints
(a) If a written complaint for violation of any provision of this subtitle, including the disclosure requirements of this subtitle and the federal Truth in Lending Act1 and regulations promulgated thereunder, or any other law of this State that regulates loans or other extensions of credit is filed with the Commissioner of Financial Regulation, the Commissioner may investigate the complaint and hold a hearing on it in accordance with § 11-413 of the Financial Institutions Article.
(b)(1) The Commissioner shall give to the credit grantor against whom a complaint is filed 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 the credit grantor's principal place of business.
1. Election to proceed with a hearing in accordance with this section; and
2. Waiver of any right to pursue any cause of action or remedy as to the matters addressed in the complaint or the hearing.
(3)(i) If a complaining party provides a written election and waiver as described in paragraph (2)(ii) of this subsection, the complaining party shall be precluded from raising or asserting against the credit grantor in any subsequent forum any claim, defense, setoff, recoupment, penalty for violation, or right of any kind based on the matters addressed in the complaint or the hearing.
(2)(i) If the Commissioner finds that the act or practice described in paragraph (1) of this subsection resulted in the credit grantor collecting an amount from the complaining party not permitted under this subtitle, the Commissioner may direct the credit grantor to make a refund to the complaining party.
1. Exceeds the amount expressly permitted under this subtitle; or
2. The credit grantor is expressly not permitted to collect.
(4) The order of the Commissioner shall comply with the Administrative Procedure Act.2
Credits
Added by Acts 1983, c. 143, § 1, eff. July 1, 1983. Amended by Acts 1993, c. 404, § 2; Acts 1995, c. 213, § 2, eff. Sept. 29, 1995; Acts 1996, c. 326, § 2, eff. July 1, 1996.
Footnotes
Pub.L. 90-321, Title I, May 29, 1968, 82 Stat. 146, codified at 15 U.S.C.A. § 1601 et seq.
State Government § 10-101 et seq.
MD Code, Commercial Law, § 12-1016, MD COML § 12-1016
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.
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