Ch. 651                                       LAWS OF MARYLAND

(C) (1) SUBJECT TO THE PROVISIONS OF THIS PARAGRAPH, AN
AMENDMENT MADE UNDER THIS SECTION SHALL BECOME EFFECTIVE AS TO A
PARTICULAR BORROWER ON:

(I)  THE FIRST DAY OF THE BILLING CYCLE DURING
WHICH THE EFFECTIVE DATE OF THE AMENDMENT OCCURS; OR

(II)  ANY LATER DATE SPECIFIED IN THE NOTICE OF
AMENDMENT.

(2) THE CREDIT GRANTOR AMENDING THE AGREEMENT
GOVERNING A REVOLVING CREDIT PLAN UNDER THIS SUBSECTION SHALL
SEND A SECOND NOTICE IN ADDITION TO THE ONE UNDER SUBSECTION (B)
OF THIS SECTION WITH THE BORROWER'S PERIODIC STATEMENT
IMMEDIATELY FOLLOWING THE INITIAL NOTICE. THE SECOND NOTICE
SHALL COMPLY WITH ALL THE REQUIREMENTS OF SUBSECTION (B) OF THIS
SECTION.

(2) (3) AFTER RECEIVING THE NOTICE OF AMENDMENT UNDER
SUBSECTION (B) OF THIS SECTION, THE BORROWER MAY SEND A SIGNED,
WRITTEN NOTICE OF REFUSAL TO THE CREDITOR THAT THE BORROWER
REFUSES TO ACCEPT THE AMENDMENT.

(3) (4) THE NOTICE OF REFUSAL SENT BY THE BORROWER
MAY BE ACCOMPANIED BY A PAYMENT ON THE BORROWER'S ACCOUNT AND
SHALL BE MAILED WITHIN 25 DAYS OF THE MAILING OF THE NOTICE OF
AMENDMENT.

(4) (5) ANY BORROWER WHO GIVES TIMELY NOTICE OF
REFUSAL MAY USE THE ACCOUNT PURSUANT TO ITS ORIGINAL, UNAMENDED
TERMS FOR:

(I)  THE DURATION OF THE TIME FOR WHICH A FEE
WAS PAID FOR USE OF THE PLAN THROUGH THE BORROWER'S CREDIT
DEVICE; OR

(II)  IF NO FEE IS PAID FOR USE OF THE PLAN OR
IF THE REMAINING TIME PERIOD FOR WHICH A FEE WAS PAID FOR USE OF
THE PLAN THROUGH THE BORROWER'S CREDIT DEVICE IS LESS THAN 3
MONTHS A PERIOD OF TIME OF NOT LESS THAN 3 MONTHS AND NOT MORE
THAN 1 YEAR FROM THE DATE OF MAILING OF THE NOTICE OF REFUSAL.

(5) (6) AT THE EXPIRATION OF THE PERIODS PROVIDED
UNDER PARAGRAPH (4) (5) OF THIS SUBSECTION, THE BORROWER WHO HAS
GIVEN A TIMELY NOTICE OF REFUSAL MAY PAY ANY OUTSTANDING UNPAID
INDEBTEDNESS IN THE ACCOUNT UNDER THE TERMS OF THE UNAMENDED
AGREEMENT GOVERNING THE PLAN.

(6) (7) IN ADDITION TO THE REQUIREMENTS OF SUBSECTION
(B) OF THIS SECTION, A CREDIT GRANTOR AMENDING THE AGREEMENT
GOVERNING A REVOLVING CREDIT PLAN UNDER THIS SUBSECTION SHALL
INCLUDE IN THE NOTICE INITIAL NOTICE OF AMENDMENT UNDER
SUBSECTION (B) OF THIS SECTION, A STATEMENT THAT A SECOND NOTICE

- 3860 -