376

LAWS OF MARYLAND

[Ch. 49

12-101. DEFINITIONS.

(A)      IN GENERAL.

IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

REVISOR'S NOTE: This subsection is new language used
as the standard introductory language to a
definition section.

(B)      BORROWER.

"BORROWER" MEANS A PERSON WHO BORROWS MONEY UNDER
THIS SUBTITLE.

REVISOR'S NOTE: This subsection is new language
added to indicate that, in this subtitle, the
term "borrower" relates only to a person who
borrows money under the provisions of this
subtitle and not, for example, under any other
credit law.

(C)   COMMERCIAL LOAN.

"COMMERCIAL LOAN" MEANS A LOAN WHICH IS MADE:

(1)   SOLELY TO ACQUIRE OR CARRY ON A BUSINESS
OR COMMERCIAL ENTERPRISE; OR

(2) TO ANY BUSINESS OR COMMERCIAL
ORGANIZATION.

REVISOR'S NOTE: This subsection is new language
derived from Art. 49, §7. It is added to make
consistent the meaning of the term "commercial
loan" as used in this subtitle, whatever the
amount of the loan. Compare §12-103(e)(2)
("commercial loan in excess of $5,000");
§12-105(b) (1) ("commercial loan secured by
inventory or accounts receivable"); and
§12—105(b)(4) ("commercial loan not in excess
of $5,000").

In paragraph (1) of this subsection, the term
"commercial enterprise," which more closely
conforms to the concept of "carry on a
business," is substituted for the somewhat
ambiguously          broad          term          "commercial

investment."        No substantive change is

intended.          Specific        reference        to "a

person...owning or desiring to acquire a
business..." is deleted, therefore, as
redundant.