Md. Code, Com. § 12-1402

Current with changes from the 2024 Legislative Session

Section 12-1402 - Subtitle not applicable to merchant processing agreement between credit card processor and business entity under certain conditions

This subtitle does not apply to a merchant processing agreement between a credit card processor and a business entity:

(1) That may be terminated without assessment of fees, fines, penalties, or liquidated damages; or

(2) If at the time of entry into the merchant processing agreement, the business entity employs 50 or more employees or reasonably estimates that it will generate more than $2,000,000 in credit card or electronic commerce transactions each year.

Md. Code, CL § 12-1402

Added by 2019 Md. Laws, Ch. 296,Sec. 1, eff. 10/1/2019.