Business Law 

(1)   Tendered by a maker or drawer in complete or partial satisfaction of a preexisting credit or loan obligation incurred by the maker or drawer under Title 12 of this article; or

(2)   That is not a bad check as described under § 8-103 of the Criminal Law Article.

(b)   Notwithstanding any other provision of this article, §§ 15-802 and 15-803 of this subtitle shall be construed to grant any holder to whom the check or other instrument was issued or negotiated a right of recourse which is alternative to any other right of recourse granted to that holder under Title 3 of this article.
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Questions & Answers: Business Law

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Maryland Code > Commercial Law