HARRY HUGHES, Governor

567

to "{discovering} any violations of the Maryland
Consumer Loan Law". The General Assembly may
wish to examine the provisions of the Maryland
Consumer Loan Law — Licensing Provisions to
determine which provisions properly are
applicable to a license issued under this
subtitle and whether there is a need for new
provisions specifically applicable to a license
issued under this subtitle.

11-304. PENALTIES.

ANY PERSON WHO VIOLATES ANY PROVISION OF THIS SUBTITLE
IS GUILTY OF A MISDEMEANOR AND ON CONVICTION IS SUBJECT TO A
FINE NOT EXCEEDING $5,000 OR IMPRISONMENT NOT EXCEEDING 3
YEARS OR BOTH.

REVISOR'S NOTE: This section presently appears as the
last sentence of Art. 49, § 5(b).

The only changes are in style.

SUBTITLE 4. SALES FINANCE COMPANIES — LICENSING

PROVISIONS.

11-401. DEFINITIONS.

(A)       IN GENERAL.

IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from the introductory
clause of Art. 83, § 164.

See also § 1-101 of this article for other
applicable definitions.

(B)       AGREEMENT.

"AGREEMENT" MEANS AN INSTALLMENT SALE AGREEMENT, A
RENEWED OR EXTENDED INSTALLMENT SALE AGREEMENT, AND ANY
RENEWAL, EXTENSION, OR REFUND AGREEMENT MADE IN CONNECTION
WITH AN INSTALLMENT SALE AGREEMENT.

REVISOR'S NOTE; This subsection is new language derived
from Art. 83, § 164(d).

It is revised to conform to the substantively
identical definition of "agreement" in the Retail
Installment Sales Act in CL § 12-601.

(C)       BUYER.

(1) "BUYER" MEANS A PERSON WHO BUYS OR LEASES
GOODS UNDER AN INSTALLMENT SALE AGREEMENT, EVEN THOUGH THE