Bill > SB825

This bill regulates commercial financing transactions in Maryland, including by establishing requirements for disclosures, calculations of annual percentage rates, terms of repayments, and other related items. It defines key terms such as "closed-end financing," "open-end financing," "sales-based financing," and "factoring transaction." The bill also exempts certain entities and transactions from its requirements, provides for enforcement and penalty provisions, and directs the Commissioner to adopt regulations and approve disclosure forms. A violation of the bill's provisions is considered an unfair, abusive, or deceptive trade practice under the Maryland Consumer Protection Act.