Bill > HB1211

This bill regulates commercial financing transactions in Maryland, including by establishing requirements related to disclosures, calculations of annual percentage rates, terms of repayments, and other related items. It also extends special offers, and makes a violation of the Act an unfair, abusive, or deceptive trade practice under the Maryland Consumer Protection Act, subject to certain enforcement and penalty provisions. The bill defines key terms like "commercial financing," "open-end financing," "closed-end financing," "sales-based financing," and "factoring transaction," and outlines specific disclosure requirements for each type of transaction. The bill also grants the Commissioner of Financial Regulation authority to adopt regulations and enforce the provisions of the Act.