If a buyer inquires in writing about the status of his account and the holder fails to answer the inquiry in clear and definite terms within 60 days after receiving it, the buyer is not required to pay a finance charge for that 60-day period or for any further period during which the holder fails to so answer.
Structure Maryland Statutes
Subtitle 5 - Retail Credit Accounts
Section 12-502 - Application of Subtitle
Section 12-503 - Establishment of Account
Section 12-504 - Maximum Finance Charge -- in General
Section 12-505 - Maximum Finance Charge -- Closed End Account
Section 12-505.1 - Maximum Finance Charge -- Closed End Account -- Refinancing at Higher Rate
Section 12-505.3 - Maximum Finance Charge -- Closed End Account -- Balloon Payment Prohibited
Section 12-506 - Maximum Finance Charge -- Open End Account
Section 12-506.1 - Credit Balances
Section 12-506.2 - Limitations Upon Changes in Rate Applicable to Open End Account
Section 12-507 - Note Taken as Part of Account
Section 12-508 - Attorney's Fees
Section 12-509 - Discount to Consumer Paying Cash
Section 12-510 - Failure to Answer Status Inquiry
Section 12-511 - Billing Statement Inquiry
Section 12-511.1 - Charge for Reply to Inquiry
Section 12-512 - Waiver by Buyer Invalid
Section 12-513 - Violation of Subtitle
Section 12-514 - Jurisdiction of Commissioner of Financial Regulation