Md. Code, Commercial Law § 12-1402
This is the official text of Md. Code, Commercial Law § 12-1402, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
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§12–1402.
Official statutory text
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.
(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.
Status: in_force · Read it on the official government site
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