416

LAWS OF MARYLAND

[Ch. 49

REVISOR'S NOTE: Subsection (a) of this section is
new language designed to facilitate citations
to this subtitle alone, as distinguished from
the licensing and regulation provisions
retained in Art. 58A for future inclusion in
the proposed Business Regulation Article.
Subsection (b) is new language designed to
permit a simple citation to both the credit
and the licensing provisions, jointly.

Present Art. 58A, enacted as Ch. 88, Laws of
1918, was taken for the most part from the
Uniform Small Loan Law of 1916. To more
accurately reflect this origin, as well as the
current economic status of the maximum loan
permitted under this subtitle ($500), the term
"small loan" has been re—adopted and
substituted for "consumer loan." See also,
revisor's note to §12—316 of this title
regarding renaming of "industrial finance"
loans.

With respect to the division of present Art.
58A, see general revisor's note to this
subtitle.

GENERAL REVISOR'S NOTE

Art. 41, §192 provides for a Commissioner of
Consumer Credit whose office is a part of the Department
of Licensing and Regulation. Sec. 192A provides that the
Commissioner administers and supervises application of
the provisions of Art. 11, §§ 163 through 206 relating to
consumer loans and Art. 58A relating to small loans.
(With respect to the change in nomenclature made by this
revision, see revisor's notes to §§ 12—214 and 12—316 of
this title.)

The credit and similar consumer—oriented provision
of the two laws are placed in Subtitles 2 and 3 of this
title, and the provisions which deal with licensing and
regulations are retained in their present respective Code
allocations pending future inclusion in the proposed
Business Regulation Article.

For provisions relating to rules and regulations of
the Commissioner over small loans, see Art. 58A, §11.

The Commission notes that there are several
differences between the present provisions of Art. 58A
and Art. 11 for which the Commission is unaware of the
reason in policy or practice; however, to avoid any
inadvertent substantive change, the Commission has not
attempted to conform these provisions. In addition to