§ 14-1203. Reporting of obsolete information prohibited

   (a) Prohibited items of information. -- Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:

   (1) Bankruptcies which, from date of adjudication of the most recent bankruptcy, antedate the report by more than 10 years;

   (2) Suits and judgments which, from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period;

   (3) Paid tax liens which, from date of payment, antedate the report by more than seven years;

   (4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years;

   (5) Records of arrest, indictment, or conviction of crime which, from date of disposition, release, or parole, antedate the report by more than seven years; or

   (6) Any other adverse item of information which antedates the report by more than seven years.

(b) Application of subsection (a). -- The provisions of subsection (a) of this section are not applicable in the case of any consumer credit report to be used in connection with:

   (1) A credit transaction involving, or which may reasonably be expected to involve, a principal amount of $ 50,000 or more;

   (2) The underwriting of life insurance involving, or which may reasonably be expected to involve, a face amount of $ 50,000 or more; or

   (3) The employment of any individual at an annual salary which equals, or which may reasonably be expected to equal, $ 20,000 or more.

HISTORY: 1976, ch. 584; 1977, ch. 534; 1992, ch. 441.