Section 12-505.2 - Same - Same - Change in finance charge during term of account prohibited. - Maryland Statutes

§ 12-505.2. Same - Same - Change in finance charge during term of account prohibited.
 

A seller or holder may not enter into a closed end retail credit account agreement, providing for an initial rate of finance charge pursuant to § 12-505(a)(3) of this subtitle, which contains a provision that permits the seller or holder to increase or decrease the applicable rate of finance charge from time to time during the term of the account. 
 

[1982, ch. 753; 2005, ch. 25, § 13.]