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

MD Comm L Code § 12-1402 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

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.