782 LAWS OF MARYLAND. [CH. 476

(d) "Instalment agreement" includes any instalment sale
agreement, any instalment sale agreement which is renewed or
extended or as to which a refund agreement is made and any
such renewal, extension or refund agreement,

(e) "Goods"' means all chattels personal having a cash price
of two thousand dollars ($2, 000) or less but not including
money or things in action.

(f) "Retail Sale" means the sale of goods for use or con-
sumption by the buyer or for the benefit or satisfaction which
the buyer may derive from the use or consumption of the goods
by another, but not for resale by the buyer.

(g) "Buyer" means the person who buys or hires the goods
subject to any instalment sale agreement, or any legal suc-
cessor in interest to such person, and shall continue to desig-
nate such person notwithstanding he may have entered into
one or more renewal, extension or refund agreements.

(h) "Instalment seller" or "seller" means a person who sells
or agrees to sell goods under an instalment sale agreement.

(i) "Security interest" means any property right in goods
which are the subject of an instalment sale agreement taken
or retained to secure performance of any obligation of the
buyer under the agreement, any renewal or extension thereof,
or any refund agreement, and the term shall include any reser-
vation of title to such goods whether or not expressed to be
absolute, whenever such title is in substance retained for se-
curity only, any lien or encumbrance against such goods, and
any interest of a mortgagee of such goods.

(j) "Collateral security" means any security, other than a
security interest in goods which are the subject of an instal-
ment sale agreement, which is given to secure performance of
any obligation of the buyer or any surety or guarantor for him
under an instalment sale agreement, renewal or extension
thereof, or refund agreement, and shall include the undertak-
ings of any surety or guarantor for the buyer and any interest
in, encumbrance on, or pledge of, property or goods other than
goods the subject of the instalment sale agreement.

(k) "Commissioner" means the Administrator of Loan
Laws, or any duly authorized deputy named or appointed by
the Administrator to perform any function in the administra-
tion or enforcement of this sub-title.

(1) "County" includes Baltimore City.

(m) "Banking institution" includes any national bank, and
any State bank, trust company or mutual savings institution.

(n) "Surety" and "guarantor" do not include a seller who
sells, transfers, or assigns an instalment agreement.

SEC. 2. And be U further enacted, That all laws or parts
of laws inconsistent with this Act be and they are hereby
repealed to the extent of such inconsistency.