Unannotated Code of Maryland (Last Updated: May 16, 2014) |
FINANCIAL INSTITUTIONS |
TITLE 12. MISCELLANEOUS INSTITUTIONS AND ACTIVITIES |
SUBTITLE 4. MARYLAND MONEY TRANSMISSION ACT |
§ 12-419. Issuance of duplicate payment instruments
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(a) Request by buyer. -- The original buyer of a payment instrument may request a duplicate of the instrument if the request is:
(1) In writing; and
(2) If required by the licensee, accompanied by:
(i) An affidavit that gives the reason for the request and states the facts relating to the loss of or other failure to produce the original payment instrument; and
(ii) A personal indemnity bond or, if the total amount of the payment instruments for which a duplicate is requested is $ 150 or more, a lost instrument corporate bond instead of a personal indemnity bond.
(b) Duty of licensee. -- Each licensee shall issue or refuse to issue a duplicate payment instrument within 30 days after a request for the duplicate is made under this section.