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LAWS OF MARYLAND

Ch. 33

Where a similar definition of "person" is
contained in § 1—101 of this article, the
Commission to Revise the Annotated Code concluded
that the definition of "person" in this subtitle
should be the same as in the Maryland Consumer
Loan Law — Credit Provisions.

REVISOR'S NOTE TO SECTION: Present Art. 58A, § 17(d),
which defines "licensee", is deleted as
unnecessary in light of the definition of
"license" in subsection (c) of this section.

11-202. SCOPE OF SUBTITLE.

(A)   LIMITATION ON SCOPE.

THE MARYLAND CONSUMER LOAN LAW DOES NOT CHANGE ANY
POWERS CONFERRED BY LAW ON ANY PERSON WHO IS NOT REQUIRED OR
PERMITTED TO BE LICENSED UNDER THIS SUBTITLE.

(B)   PERSONS WHO MAY NOT BE LICENSED.

THE COMMISSIONER MAY NOT LICENSE ANY BANK, TRUST
COMPANY, SAVINGS BANK, CREDIT UNION, OR SAVINGS AND LOAN
ASSOCIATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from the last two
sentences of Art. 58A, § 1(a).

11-203. RULES AND REGULATIONS.

THE COMMISSIONER MAY ADOPT RULES AND REGULATIONS TO
CARRY OUT THE PROVISIONS OF THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first clause
of Art. 58A, § 11(b).

The present reference to the Administrative
Procedure Act is deleted as unnecessary, since
the Administrative Procedure Act applies in any
event.

11-204. LICENSE REQUIRED.

(A) LICENSE REQUIRED.

UNLESS A PERSON IS LICENSED BY THE COMMISSIONER, THE
PERSON MAY NOT:

(1) MAKE A LOAN; OR

(2) IN ANY WAY USE ANY ADVANTAGE PROVIDED BY THE
MARYLAND CONSUMER LOAN LAW.