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MD SB582
Bill
Status
Introduced
2/4/2026
Primary Sponsor
J.B. Jennings
Click for details
AI Summary
- Prohibits creditors engaged in making personal, family, or household loans from sending checks or other negotiable instruments to individuals who have not submitted an application or otherwise requested the extension of credit
- Shields recipients of unsolicited checks or negotiable instruments from liability for the amount, unless the individual actually receives and negotiates (cashes or deposits) the instrument
- Makes a creditor that violates the prohibition guilty of a misdemeanor, punishable by a fine not exceeding $500
- Adds new Section 14–1330 to the Commercial Law Article of the Annotated Code of Maryland
- Takes effect October 1, 2026
Legislative Description
Consumer Protection - Unsolicited Loans
Crimes and Punishments
Last Action
Favorable with Amendments Report by Finance
3/16/2026
Committee Referrals
Finance2/4/2026
Full Bill Text
No bill text available