WILLIAM DONALD SCHAEFER, Governor                            Ch. 637

Approved May 26, 1994.

CHAPTER 637
(House Bill 1098)

AN ACT concerning

Consumer Credit Reporting Agency - Exemption

FOR the purpose of exempting a person who assembles and exchanges consumer credit
information with certain persons from certain procedural requirements relating to
the furnishing of consumer credit reports; and generally relating to a consumer
credit reporting agency.

BY repealing and reenacting, with amendments,
Article - Commercial Law
Section 14-1201(f)
Annotated Code of Maryland
(1990 Replacement Volume and 1993 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Commercial Law

14-1201.

(f) (1) "Consumer reporting agency" means any person which, for monetary
fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the
practice of assembling or evaluating consumer credit information or other information on
consumers for the purpose of furnishing consumer reports to third parties, and which uses
any means or facility of commerce for the purpose of preparing or furnishing consumer
reports.

(2) "Consumer reporting agency" does not include:

(I)       [a] A person licensed as a private detective agency or certified as
a private detective under the Maryland Private Detectives Act; AND OR

(II)     A PERSON WHO ASSEMBLES AND EXCHANGES CONSUMER
CREDIT INFORMATION WITH AN AFFILIATED PERSON OR A PERSON WHO IS OWNED
OR CONTROLLED BY THE SAME ENTITY;. PROVIDED THAT, IN THE EVENT OF AN
ADVERSE CREDIT DECISION AGAINST A CONSUMER BASED ON THAT INFORMATION,
THE ENTITY MAKING THE DECISION SHALL COMPLY WITH THE NOTICE
REQUIREMENTS OF § 14-1212(B) OF THIS SUBTITLE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1994.

- 2863 -