1206                            LAWS OF MARYLAND                     [CH. 497

is notified thereof in writing by the buyer and, if so corrected,
neither the seller nor the holder shall be subject to any penalty under
this subtitle.

(b) The Administrator of Loan Laws shall have the power to
investigate any complaint arising out of a retail credit account
transaction pursuant to Section 162 of this Article 83.

153A.

(j) "Financial Institution" means a person who enters into an
agreement with a buyer whereby the former agrees to extend credit
to the buyer and to apply it as directed by the buyer pursuant to a
credit card issued to the buyer by the financial institution; but AND
this term does not include "banking institutions" as defined in Section
63 of Article 11 of this Code.

153C.

(g) If a seller or financial institution within 60 days from receiv-
ing a written inquiry from a buyer, sent to it by certified mail, return
receipt requested, CONCERNING THE STATUS OF THE AC-
COUNTANT ACCOUNT, fails to answer the buyer in clear and
definitive terms, for that 60-day period and for any further period
that the seller or financial institution fails to provide a clear and
definitive answer, the buyer shall not be required to pay any service
charge on his account.

153D.

(f) If, as part of a retail credit account, a note is taken by the
seller or financial institution, the note shall refer to the retail credit
account out of which it arises and, in the hands of any subsequent
holder, the note shall be subject to all defenses which the buyer
might have asserted against the seller or financial institution. Also
no SUCH note shall contain any confession of judgment or warrant of
attorney to appear for the buyer or for any surety or guarantor for
him to confess judgment.

SEC. 2. And be it further enacted, That this Act shall take effect
July 1, 1969.

Approved May 2, 1969.

CHAPTER 497
(House Bill 434)

AN ACT to repeal and re-enact, with amendments, Section 37(k) of
Article 87 of the Annotated Code of Maryland (1964 Replacement
Volume and 1968 Supplement), title "Sheriffs," subtitle "Com-
pensation and Duties," increasing the salaries and providing a
clothing allotment for the sheriff, deputy sheriffs and cook of
Garrett County, and increasing the sheriff's mileage allowance
provided his office is not furnished with an automobile; and cor-
recting an error therein.