Section 12-120 - Maximum fees; membership fee. - Maryland Statutes

§ 12-120. Maximum fees; membership fee.
 

(a)  Maximum fees.- Except as provided in § 15-802 (b) of the Commercial Law Article and subsection (b) of this section, a licensee may not charge any other fee, including late fees or other service fees, for accepting or cashing a payment instrument in excess of the greater of: 

(1) 2% of the face amount of the payment instrument or $3, if the payment instrument is issued by the federal government or a state or local government; 

(2) 10% of the face amount of a payment instrument or $5, if the payment instrument is a personal check; or 

(3) 4% of the face amount of the payment instrument or $5, for any other payment instrument. 

(b)  Membership fee.- A licensee may charge a customer a one-time membership fee not to exceed $5. 
 

[2000, ch. 614, § 2.]