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LAWS OF MARYLAND

Ch. 754

Section 5-807 through 5-809, inclusive

Annotated Code of Maryland

(1980 Volume and 1980 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be repealed, amended, or enacted to read as follows: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 - Financial Institutions

5-807.

(A) A BANKING INSTITUTION MAY NOT:

(1) ISSUE AN ADVERTISEMENT OR MAKE A

REPRESENTATION THAT IS FALSE, MISLEADING, OR DECEPTIVE;

(2) IMPOSE AS A CONDITION FOR A LOAN:

(I) A REQUIREMENT THAT THE CUSTOMER OBTAIN
OTHER CREDIT, PROPERTY, OR SERVICE FROM THE INSTITUTION; OR

(II) ANY RESTRICTION ON OBTAINING CREDIT,

PROPERTY, OR SERVICE FROM A COMPETITOR UNLESS THE

RESTRICTION IS REASONABLY NECESSARY TO SECURE THE LOAN;

(3) IMPOSE AS A CONDITION FOR A SERVICE:

(I) A REQUIREMENT THAT THE CUSTOMER OBTAIN
OTHER CREDIT, PROPERTY, OR SERVICE FROM THE INSTITUTION; OR

(II) ANY RESTRICTION ON OBTAINING CREDIT,
PROPERTY, OR SERVICE FROM A COMPETITOR; OR

(4) ENGAGE IN AN ACT OR PRACTICE THAT IS

ANTICOMPETITIVE, UNFAIR, DECEPTIVE, OR INJURIOUS TO PUBLIC
INTEREST.

(B) THE BANK COMMISSIONER MAY ADOPT RULES,

REGULATIONS, AND STANDARDS WHICH FURTHER DEFINE SPECIFIC

ACTS OR PRACTICES THAT ARE ANTICOMPETITIVE, UNFAIR,

DECEPTIVE, OR INJURIOUS TO THE PUBLIC INTEREST.

(C) A BANKING INSTITUTION AND ANY DIRECTOR, OFFICER,

TRUSTEE, MANAGER, AGENT, OR EMPLOYEE OF A BANKING

INSTITUTION WHO VIOLATES ANY PROVISION OF THIS SECTION IS
GUILTY OF A MISDEMEANOR AND ON CONVICTION IS SUBJECT TO A
FINE NOT EXCEEDING $3,000 OR IMPRISONMENT NOT EXCEEDING 5
YEARS OR BOTH.

5-807.

(A) A BANKING INSTITUTION MAY NOT:

(1) ISSUE AN ADVERTISEMENT OR MAKE A
REPRESENTATION THAT IS FALSE, MISLEADING, OR DECEPTIVE;