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LAWS OF MARYLAND

[Ch. 49

With respect to the use of the term "lender"
in substitution for "licensee," see revisor's
note to §12-301(c).

The penalty for engaging in the business of
making loans and charging interest at rates
greater than that permitted by this subtitle,
which penalty is substantially higher than
that of this section, is retained in Art. 11,
§168, the licensing provisions, for future
inclusion in the Business Regulation Article.

12-316. SHORT TITLES.

(A)    THIS SUBTITLE MAY BE CITED AS THE MARYLAND
CONSUMER LOAN LAW - CREDIT PROVISIONS.

(B)   THIS SUBTITLE AND THE MARYLAND CONSUMER LOAN
LAW - LICENSING PROVISIONS MAY BE CITED JOINTLY AS THE
MARYLAND CONSUMER LOAN LAW.

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. 11 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.

The more meaningful term "consumer loan" is
substituted         for         the present, archaic

"industrial finance loan." To avoid conflict,
Art. 58A of the Code and Subtitle 2 of this
title re—adopt the name "Small Loan Law"; in
this regard, see revisor's note to §12—214.

With respect to the division of Art. 11, §§
163 through 206, 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
Commission 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
provision, see revisor's notes to §§ 12—316 and 12—214 of
this title.)