Maryland Code, COMMERCIAL LAW 14-1602.1
Terms Used In Maryland Code, COMMERCIAL LAW 14-1602.1
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(2) “Member” means a person who has a membership in a video club.
(3) (i) “Membership” means an agreement between a video club and a member that enables the member to buy or rent a video or video equipment from the video club under circumstances specified in a membership contract.
(ii) “Membership” does not include sales by mail.
(4) (i) “Video” means a videotape or video disc copy of a motion picture film, television show, or recording of a live event.
(ii) “Video” includes a video movie as defined in § 14-1601(d) of this subtitle.
(5) “Video club” means a person, corporation, partnership, or any commercial entity that is in the business of selling at retail or renting videos or video equipment.
(6) “Video equipment” includes a videotape or video disc player or recorder.
(b) Any agreement or contract for membership in a video club that requires a member to leave a signed credit card authorization with the video club shall include provisions that:
(1) Specify the maximum amount and type of fees that the video club may charge to a member on the member’s signed credit card authorization without the member’s approval, as each fee is charged; and
(2) State the maximum length of time, which may be no longer than 6 months, that the video club may charge fees to a member under paragraph (1) of this subsection before the video club shall renew the member’s credit card authorization.