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Statutes Text

Article - Commercial Law




§12–1402.

    This subtitle does not apply to a merchant processing agreement between a credit card processor and a business entity:

        (1)    That may be terminated without assessment of fees, fines, penalties, or liquidated damages; or

        (2)    If at the time of entry into the merchant processing agreement, the business entity employs 50 or more employees or reasonably estimates that it will generate more than $2,000,000 in credit card or electronic commerce transactions each year.



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