Ch. 374

2003 LAWS OF MARYLAND

A. THE CREDITORS THAT THE LICENSEE REASONABLY
EXPECTS TO PARTICIPATE IN THE MANAGEMENT OF THE CONSUMER'S DEBT UNDER
THE DEBT MANAGEMENT SERVICES AGREEMENT; AND

B. THE CREDITORS THAT THE LICENSEE REASONABLY
EXPECTS NOT TO PARTICIPATE IN THE MANAGEMENT OF THE CONSUMER'S DEBT
UNDER THE DEBT MANAGEMENT SERVICES AGREEMENT;

(3) (III) THE LICENSEE AND THE CONSUMER HAVE EXECUTED A DEBT
MANAGEMENT SERVICES AGREEMENT THAT DESCRIBES THE DEBT MANAGEMENT
SERVICES TO BE PROVIDED BY THE LICENSEE TO THE CONSUMER;

(4) (IV) THE LICENSEE HAS ESTABLISHED AN AGREEMENT, WITH A
COOP FAITH BELIEF REASONABLE EXPECTATION BASED ON THE LICENSEE'S PAST
EXPERIENCE THAT EACH CREDITOR OF THE CONSUMER THAT IS LISTED AS A
PARTICIPATING CREDITOR IN THE CONSUMER'S DEBT MANAGEMENT SERVICES
AGREEMENT, FOR THE WILL ACCEPT PAYMENT OF THE CONSUMER'S DEBTS OWED
TO THE CREDITOR AS PROVIDED IN THE CONSUMER'S DEBT MANAGEMENT SERVICES
AGREEMENT; AND

(5) (V) A COPY OF THE COMPLETED DEBT MANAGEMENT SERVICES
AGREEMENT HAS BEEN PROVIDED TO THE CONSUMER

(2) (I) A LICENSEE MAY PROVIDE TO A CONSUMER THE MATERIALS
REQUIRED UNDER PARAGRAPH (1)(II) OF THIS SUBSECTION USING THE INTERNET IF:

1. A DEBT MANAGEMENT COUNSELOR OF THE LICENSEE
HAS REVIEWED AND APPROVED THE COMPUTER PROGRAM OR APPLICATION USED
TO CREATE THE FINANCIAL ANALYSIS AND INITIAL BUDGET PLAN; AND

2. THE CONSUMER IS:

A. ADVISED OF THE AVAILABILITY OF COUNSELING; AND

B. AFFORDED THE OPPORTUNITY FOR COUNSELING AND
FOR DISCUSSION OF THE FINANCIAL ANALYSIS AND INITIAL BUDGET PLAN WITH A
DEBT MANAGEMENT COUNSELOR AT ANY TIME.

(II) TITLE 21 OF THE COMMERCIAL LAW ARTICLE APPLIES TO THE
PROVISION OF MATERIALS AND ASSOCIATED TRANSACTIONS UNDER THIS
PARAGRAPH.

(B) EACH DEBT MANAGEMENT SERVICES AGREEMENT SHALL:

(1)      BE SIGNED AND DATED BY THE LICENSEE AND THE CONSUMER; AND

(2)      INCLUDE, IN AT LEAST 12 POINT TYPE:

(I)      THE NAME, ADDRESS, AND PHONE NUMBER OF THE
CONSUMER;

(II)     THE NAME, ADDRESS, PHONE NUMBER, AND LICENSE NUMBER
OF THE LICENSEE;

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