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§ 2-113.1. Acts or practices that are anticompetitive, unfair, deceptive, abusive, or injurious...

West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2022

West's Annotated Code of Maryland
Financial Institutions
Title 2. Commissioner and Boards
Subtitle 1. Commissioner of Financial Regulation (Refs & Annos)
Effective: July 1, 2022
MD Code, Financial Institutions, § 2-113.1
§ 2-113.1. Acts or practices that are anticompetitive, unfair, deceptive, abusive, or injurious to public interest
Currentness
Prohibited acts or practices by regulated person
(a) A regulated person, as defined in § 2-117 of this subtitle, may not:
(1) Issue an advertisement or make a representation that is false, misleading, or deceptive;
(2) Impose, as a condition for a loan, a restriction on obtaining credit, property, or service from a competitor unless the restriction is reasonably necessary to secure the loan;
(3) Impose, as a condition for a service, a restriction on obtaining credit, property, or service from a competitor; or
(4) Engage in an act or a practice that is anticompetitive, unfair, deceptive, abusive, or injurious to the public interest.
Commissioner may define more prohibited acts and practices
(b) The Commissioner may further define specific acts or practices that are anticompetitive, unfair, deceptive, abusive, or injurious to the public interest.
Application of section to financial institution or subsidiary
(c) Notwithstanding § 2-113(d) of this subtitle, a financial institution or a subsidiary or an affiliate of a financial institution is subject to this section whenever the financial institution or subsidiary or affiliate engages in activity:
(1) For which it maintains or is required to maintain a license or registration issued by the Commissioner or the State Collection Agency Licensing Board; or
(2) Subject to a provision of law, regulation, rule, or order over which the Commissioner has jurisdiction, other than activity subject to any of Titles 3 through 9 of this article.

Credits

Added by Acts 2022, c. 106, § 1, eff. July 1, 2022; Acts 2022, c. 107, § 1, eff. July 1, 2022.
MD Code, Financial Institutions, § 2-113.1, MD FIN INST § 2-113.1
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