HARRY HUGHES, Governor

1253

(B) THE COMMISSIONER SHALL DESIGN A FORM OR MAKE RULES
FOR INDIVIDUAL AND GROUP HEALTH INSURANCE POLICY CLAIMS
WHICH CONFORM SUBSTANTIALLY TO THE INFORMATION REQUIREMENTS
APPROVED BY THE AMERICAN MEDICAL ASSOCIATION'S COUNCIL ON
MEDICAL SERVICE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 6, 1980.

CHAPTER 362

(Senate Bill 1083)

AN ACT concerning

Open End Retail Credit Account - Outstanding Balance
Finance Charges

FOR the purpose of prohibiting the inclusion assessment of
certain charges in computing the outstanding balance of
an open end retail credit account subject to certain
finance charges. finance charges in certain cases in an
open end retail credit account.

BY repealing and reenacting, with amendments,

Article - Commercial Law
Section 12-506(c) and (d)
Annotated Code of Maryland
(1975 Volume and 1979 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article - Commercial Law

12-506.

(c) For, the purpose of computing the outstanding
balance of an open end account subject to the finance
charge, the outstanding balance:

(1)  On any day may not exceed the sum of the
total charges to the account less the amounts paid or
credited to the account before that day; or

(2)  May be computed by the average daily balance
method EXCLUDING CHARGES TO THE ACCOUNT MADE LESS THAN 30
DAYS PRIOR TO THE BILLING DATE; AND