MARVIN MANDEL, Governor

435

The credit and similar consumer—oriented provisions
of these two laws are placed in Subtitles 2 and 3 of this
title, and the provisions which deal with licensing and
regulation 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 Commission over consumer laws, see Art. 11, §191.

Art, 11, §196(a)(2), which permits, but does not
require, a licensee to require repayment of loans in
equal or substantially equal periodic installments, is
proposed for repeal as obsolete and unnecessary. There
is nothing in this subtitle or in any other provision of
law which would, in any event, prevent a lender from
requiring repayment in installments.

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
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 4. SECONDARY MORTGAGE LOANS - CREDIT

PROVISIONS.

12-401. 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 BANK COMMISSIONER OR DEPUTY
BANK COMMISSIONER OF MARYLAND.

REVISOR'S NOTE: This subsection presently appears as
Art. 66, §40(d).

No changes are made.

(C)   LENDER.