§ 12-120. Maximum fees; membership fee

   (a) Maximum fees. -- Except as provided in § 15-802(b) of the Commercial Law Article and subsection (b) of this section, a licensee may not charge any other fee, including late fees or other service fees, for accepting or cashing a payment instrument in excess of the greater of:

   (1) 2% of the face amount of the payment instrument or $ 3, if the payment instrument is issued by the federal government or a state or local government;

   (2) 10% of the face amount of a payment instrument or $ 5, if the payment instrument is a personal check; or

   (3) 4% of the face amount of the payment instrument or $ 5, for any other payment instrument.

(b) Membership fee. -- A licensee may charge a customer a one-time membership fee not to exceed $ 5.

HISTORY: 2000, ch. 614, § 2.