Section 14-3901 - Definitions

(a) In this subtitle the following words have the meanings indicated. (b) 'Arbitration activity' means the initiation, conduct, sponsorship, or administration of, or the appointment of an arbitrator in, a consumer arbitration. (c) 'Arbitration organization' means a nongovernmental association, agency, board, commission, corporation, or other entity that performs arbitration activities. (d) 'Consumer' means an individual who is: (1) A resident of the State; and (2) An actual or prospective purchaser or lessee of any goods, services, real property, or credit primarily for personal, family, or household purposes. (e) (1) 'Consumer arbitration' means a binding arbitration conducted in accordance with a consumer arbitration agreement. (2) 'Consumer arbitration' does not include: (i) A binding arbitration conducted in accordance with the provisions of a policy of property insurance, casualty insurance, or surety insurance, as those terms are defined in § 1–101 of the Insurance Article; (ii) An arbitration governed by rules adopted by a securities self–regulatory organization and approved by the United States Securities and Exchange Commission under federal law; or (iii) An arbitration

) An arbitration governed by rules adopted by a securities self–regulatory organization and approved by the United States Securities and Exchange Commission under federal law; or (iii) An arbitration between a consumer and a related institution that is licensed by the Maryland Department of Health, if the consumer arbitration agreement between the consumer and the related institution is not mandated as a condition of admission of the consumer to the related institution. (f) (1) 'Consumer arbitration agreement' means a standardized contract that: (i) Is between a consumer and another person who is not a consumer; (ii) Provides for the sale or lease of any goods, services, real property, or credit primarily for personal, family, or household purposes; and (iii) Requires that disputes arising under the contract be submitted to binding arbitration. (2) 'Consumer arbitration agreement' does not include a public or private sector collective bargaining agreement. (g) 'Related institution' has the meaning stated in § 19–301 of the Health – General Article.