Bill > SB582

This bill, titled "Consumer Protection - Unsolicited Loans," aims to prevent individuals from being unexpectedly burdened with debt by prohibiting creditors, defined as entities that make loans or extend credit for personal, family, or household use, from sending checks or other negotiable instruments (like a check that can be cashed or transferred) to someone if that person has not applied for or requested the credit beforehand. If a creditor violates this rule and sends such an instrument, the individual receiving it will not be held responsible for its amount unless they actually receive and cash or transfer it. Violating this section is considered a misdemeanor, punishable by a fine of up to $500, and the law is set to take effect on October 1, 2026.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0582?ys=2026RS