Ch. 321                           MARVIN MANDEL, Governor                               721

(3)  For the purpose of computing the outstanding balance subject to the service
charge as provided in this subsection (i) the outstanding balance on any day shall
consist of an amount which shall not exceed the sum of the total charges to the
account less the amounts paid or credited to the account prior to such day or (ii)
the outstanding balance may be computed by the average daily balance method;
(iii) the service charge in any given month shall not exceed an amount which
exceeds that which would be assessed pursuant to (ii) above.

(4)  A service charge for a monthly period may not be imposed under a retail
credit account as described in this subsection unless the periodic statement for such
month shall be mailed to the buyer at least 15 days before the end of the next
billing cycle.

(5)     [[IT SHALL BE UNLAWFUL FOR ANY RETAIL CREDIT
ACCOUNT TO BE LIMITED TO BALANCES UNDER FIVE HUNDRED
DOLLARS ($500.00) IF THE DEBTOR IS ALLOWED THE PRIVILEGE OF
HAVING MORE THAN ONE SEPARATE ACCOUNT, SO THAT ON
EACH ACCOUNT THE HIGHER RATE OF INTEREST IS IMPOSED]] IF
THE SELLER OR FINANCIAL INSTITUTION ESTABLISHES TWO OR.
MORE ACCOUNTS OF THE TYPE DESCRIBED IN THIS SUBSECTION
(C) FOR AN INDIVIDUAL BUYER, SUCH SELLER OR FINANCIAL
INSTITUTION SHALL NOT IMPOSE A HIGHER RATE OF SERVICE
CHARGE. THAN WOULD BE OBTAINED IF THERE WAS BUT ONE
ACCOUNT BETWEEN THAT BUYER AND THE SELLER OR
FINANCIAL INSTITUTION, A SELLER WHO ACCEPTS PAYMENT
FROM ANY FINANCIAL INSTITUTION, AS DIRECTED BY A BUYER
PURSUANT TO A CREDIT CARD ISSUED TO THAT BUYER BY THE
FINANCIAL INSTITUTION, AND WHO ALSO ESTABLISHES A RETAIL
CREDIT ACCOUNT DIRECTLY PAYABLE TO THAT SELLER BY THE
SAME BUYER, DOES NOT ESTABLISH TWO ACCOUNTS WITHIN THE
MEANING OF THIS SUBSECTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect [[July 1, 1973]] JANUARY 1, 1974, AND SHALL APPLY TO THE
COMPUTATION OF SERVICE CHARGES ON THE OUTSTANDING
BALANCES OF ALL ACCOUNTS GOVERNED BY SECTION 153D(C)(1)
THEREBY AS OF ANY BILLING DATE ON OR AFTER JANUARY 1,
1974. FOR ANY SUCH ACCOUNT EVEN THOUGH_ SUCH BILLING, IN
WHOLE OR IN PART COVERS A PERIOD OF TIME PRIOR TO
JANUARY 1, 1974, WHEN THE CHANGED REQUIREMENTS FOR THE
COMPUTATlON OF SERVICE CHARGES FOUND IN SECTION(C)(1)
WERE NOT IN EFFECT.

Approved May 7, 1973.

CHAPTER 321
(House Bill 793)

AN ACT to repeal and re-enact, with amendments, Section 41(b-3A) of Article 2B
of the Annotated Code of Maryland (1968 Replacement Volume and 1972
Supplement), title "Alcoholic Beverages," subtitle "General Provisions on Issue
of Licenses," to allow more than one beer, wine and liquor license on premises
of restaurants with a minimum capital investment of [[$150,000]] a certain