Sec. 1. 10 MRSA c. 202-E is enacted to read:

CHAPTER 202-E

PROHIBITED PRACTICES INVOLVING CREDIT CARD

PROCESSING COMPANIES

§1157.__Prohibition on termination fees

1.__Credit card processing company.__As used in this chapter, "credit card processing company" means a person, firm, corporation, partnership or association engaged in the business of processing credit card transactions pursuant to a contract with another person, firm, corporation, partnership or association to facilitate the acceptance of credit cards at the point of sale of a transaction.

2.__Prohibition on termination fees.__A credit card processing company may not impose a termination fee or other fee upon the termination or cancellation of a contract for the provision of credit card processing services.

3.__Remedies.__A person injured as a result of a violation of subsection 2 may seek a monetary refund of any prohibited fees, damages and an injunction in a civil action.__A person likely to be injured by a violation of subsection 2 may seek an injunction in a civil action.__The court may award reasonable attorney's fees to the plaintiff in any civil action brought pursuant to this subsection.

SUMMARY

This bill prohibits a credit card processing company from charging a termination fee upon the cancellation or termination of a contract for credit card processing services.