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- Subtitle 5. Retail Credit Accounts
Md. Code, CL § 12-506.1 Credit Balances
| Library | Maryland Statutes |
| Edition | 2023 |
| Currency | Current through November 23, 2023 |
| Year | 2023 |
| Citation | Md. Code, CL § 12-506.1 |
(a) In this section "credit balance" means a balance on an open end retail credit account which indicates that the buyer has made payments or obtained refunds in excess of charges, resulting in a credit due to the buyer.
(b) If there is a credit balance in excess of $1 on any retail credit account:
(1) The holder shall send to the buyer a monthly statement which indicates the amount of the credit balance; and
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