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LAWS OF MARYLAND

Ch. 509

[(2)] (II) 1 percent [per] A month on that part
of the outstanding balance [exceeding] THAT IS MORE THAN
$700[.]; and

(2) INCLUDES ANY TRANSACTION FEE, MEMBERSHIP
FEE, OR OTHER FEE FOR THE PRIVILEGE OF PARTICIPATING IN A
CREDIT CARD PLAN:

12-504 12-506.

(C) (H) (1) A SELLER OR FINANCIAL INSTITUTION THAT
IMPOSES A FINANCE CHARGE IN CONNECTION WITH AN OPEN END
ACCOUNT MAY NOT DIRECTLY OR INDIRECTLY CONTRACT FOR, CHARGE,
OR RECEIVE FROM THE BUYER ANY FINANCE CHARGE, MEMBERSHIP OR
OTHER FEE, DISCOUNT, FINE, COMMISSION, CHARGE, BROKERAGE, OR
OTHER CONSIDERATION ON THAT ACCOUNT IN EXCESS OF THAT
PERMITTED BY THIS SUBTITLE SECTION.

(2) IF A CREDIT CARD PLAN ALLOWS FOR BOTH
PURCHASES AND THE EXTENSION OF CASH ADVANCES, THE CHARGES
PROHIBITED BY THIS SECTION MAY NOT BE IMPOSED AS TO EITHER
FUNCTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 19, 1981.

CHAPTER 510

(Senate Bill 17)

AN ACT concerning

Insurance - Uninsured Motorist Coverage

FOR the purpose of requiring that automobile insurer's offer

a policy holder the right to purchase uninsured

motorist coverage at certain limits providing that
there shall be available to certain insureds the
opportunity to contract for uninsured motorist coverage
at certain amounts under certain circumstances;
defining uninsured motor vehicle; and clarifying types
of policies that include uninsured motor vehicle
coverage.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 541(c)

Annotated Code of Maryland

(1979 Replacement Volume and 1980 Supplement)