Md. Code Ann., Fin. Inst. § 12-919
Written accountings provided to consumers
Effective Oct 1, 2003Added by Acts 2003, c. 374, § 1, eff. Oct. 1, 2003; Acts 2003, c. 375, § 1, eff. Oct. 1, 2003.State of Maryland
(a) A licensee shall provide to each consumer with whom the licensee has a debt management services agreement a written accounting of:
- (1) The amount of funds received from the consumer for payment to the consumer's creditors since the last report; and
- (2) The amounts and dates of disbursements made to each creditor of the consumer since the last report.
(b) A licensee shall provide the accounting required under subsection (a) of this section:
- (1) At least once during each calendar quarter; and
- (2) On cancellation or termination of the debt management services agreement.
Added by Acts 2003, c. 374, § 1, eff. Oct. 1, 2003; Acts 2003, c. 375, § 1, eff. Oct. 1, 2003.