MARVIN MANDEL, Governor

417

those noted in earlier revisor's notes one might compare,
e.g., §12-203(c) with §12-303(c); §12-209 with §12-312;
and §12-213 with §12-315.

SUBTITLE 3. CONSUMER LOANS - CREDIT PROVISIONS.

12-301. 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)   COMMISSIONER.

"COMMISSIONER" MEANS THE COMMISSIONER OF CONSUMER
CREDIT.

REVISOR'S NOTE: This subsection presently appears as
the last paragraph of Art. 11, §169.

The only changes are in style.

(C)   LENDER.

"LENDER" MEANS A PERSON WHO MAKES A LOAN UNDER THIS
SUBTITLE.

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

Since there are some persons who are permitted
to make loans without a license (see revisor's
note to §12—302), the Commission concluded
that, in this subtitle, the somewhat more
meaningful term "lender" should be substituted
for "licensee." This conforms to the usage
previously adopted by the General Assembly
with respect to secondary mortgage loans in
Art. 66, §§ 39 et seq. — the credit provisions
of which are now contained in Subtitle 4 of
this title. No change in substance is
intended, and §12—302, as well as Art. 11,
§165, clearly expresses the requirement that,
unless exempt by law, a lender must be
licensed.