MARVIN MANDEL, Governor

573

THE COURT MAY ISSUE AN ORDER OR RENDER A JUDGMENT
NECESSARY TO:

(1)   PREVENT VIOLATIONS OF THIS SUBTITLE; OR

(2)  RESTORE TO THE PERSON DAMAGED ANY MONEY OR
PROPERTY ACQUIRED BY MEANS OF ANY PRACTICE IN VIOLATION
OF ANY PROVISION OF THIS SUBTITLE.

REVISOR'S NOTE: This section presently appears as
Art. 83, §17 5.

In subsection (a) of this section, the present
reference to a "circuit" court is deleted as
unnecessary.

The only other changes are in style.

14-407. PRIVATE REMEDIES.

(A) INFORMAL SETTLEMENT PROCEDURES.

IT IS THE POLICY OF THE STATE TO ENCOURAGE A
GUARANTOR VOLUNTARILY TO ESTABLISH PROCEDURES WHEREBY A
GUARANTY DISPUTE IS FAIRLY AND EXPEDITIOUSLY SETTLED
THROUGH INFORMAL DISPUTE SETTLEMENT PROCEDURES. A
GUARANTOR WHO ESTABLISHES INFORMAL DISPUTE SETTLEMENT
PROCEDURES MAY ELECT TO SETTLE GUARANTY DISPUTES IN
COOPERATION WITH ANY PRIVATE AGENCY OR THE CONSUMER
PROTECTION DIVISION OF THE ATTORNEY GENERAL'S OFFICE.

(B)   LIABILITY OF GUARANTOR.

THE GUARANTOR IS LIABLE TO THE PERSON GUARANTEED FOR
ANY WRONGFUL BREACH OF A GUARANTY AND IS UNDER A DUTY TO:

(1)   PERFORM AS REQUIRED UNDER THIS SUBTITLE;
AND

(2)    COMPENSATE THE PERSON GUARANTEED FOR ALL
SEASONABLE INCIDENTAL EXPENSES INCURRED AS A RESULT OF
THE BREACH.

(C)      ACTION BY PERSON GUARANTEED; COSTS AND
EXPENSES.

(1)   IF THE GUARANTOR BREACHES ANY OF HIS
DUTIES, THE PERSON GUARANTEED MAY FILE AN ACTION IN ANY
COURT OF COMPETENT JURISDICTION.

(2)   EXCEPT AS PROVIDED IN PARAGBAPH (3) OF
THIS SUBSECTION, IF THE PERSON GUARANTEED PREVAILS IN AN
ACTION FILED UNDER THIS SUBSECTION, THE COURT SHALL
INCLUDE IN THE AMOUNT OF THE JUDGMENT A SUM EQUAL TO THE