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Maryland Code, Commercial Law § 14-3901

Current as of December 31, 2021 | Updated by FindLaw Staff

(a) In this subtitle the following words have the meanings indicated.

(b) “Arbitration activity” means the initiation, conduct, sponsorship, or administration of, or the appointment of an arbitrator in, a consumer arbitration.

(c) “Arbitration organization” means a nongovernmental association, agency, board, commission, corporation, or other entity that performs arbitration activities.

(d) “Consumer” means an individual who is:

(1) A resident of the State; and

(2) An actual or prospective purchaser or lessee of any goods, services, real property, or credit primarily for personal, family, or household purposes.

(e)(1) “Consumer arbitration” means a binding arbitration conducted in accordance with a consumer arbitration agreement.

(2) “Consumer arbitration” does not include:

(i) A binding arbitration conducted in accordance with the provisions of a policy of property insurance, casualty insurance, or surety insurance, as those terms are defined in § 1-101 of the Insurance Article;

(ii) An arbitration governed by rules adopted by a securities self-regulatory organization and approved by the United States Securities and Exchange Commission under federal law; or

(iii) An arbitration between a consumer and a related institution that is licensed by the Maryland Department of Health, if the consumer arbitration agreement between the consumer and the related institution is not mandated as a condition of admission of the consumer to the related institution.

(f)(1) “Consumer arbitration agreement” means a standardized contract that:

(i) Is between a consumer and another person who is not a consumer;

(ii) Provides for the sale or lease of any goods, services, real property, or credit primarily for personal, family, or household purposes; and

(iii) Requires that disputes arising under the contract be submitted to binding arbitration.

(2) “Consumer arbitration agreement” does not include a public or private sector collective bargaining agreement.

(g) “Related institution” has the meaning stated in § 19-301 of the Health--General Article.

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Cite this article: FindLaw.com - Maryland Code, Commercial Law § 14-3901 - last updated December 31, 2021 | https://codes.findlaw.com/md/commercial-law/md-code-coml-sect-14-3901/

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