568

LAWS OF MARYLAND

Ch. 33

PERSON HAS ENTERED INTO ONE OR MORE RENEWAL, EXTENSION, OR
REFUND AGREEMENTS.

(2) "BUYER" INCLUDES A PROSPECTIVE BUYER.

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

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

(D)       COLLATERAL SECURITY.

(1)       "COLLATERAL SECURITY" MEANS ANY SECURITY
INTEREST IN, ENCUMBRANCE ON, OR PLEDGE OF PROPERTY OR GOODS
THAT IS GIVEN TO SECURE PERFORMANCE OF AN OBLIGATION OF A
BUYER OR A SURETY FOR A BUYER UNDER AN AGREEMENT.

(2)       "COLLATERAL SECURITY" INCLUDES THE
UNDERTAKING OF A SURETY FOR A BUYER.

(3)       "COLLATERAL SECURITY" DOES NOT INCLUDE ANY
GOODS OR INTEREST IN GOODS THAT ARE THE SUBJECT OF AN
INSTALLMENT SALE AGREEMENT.

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

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

(E)       COMMISSIONER.

"COMMISSIONER" MEANS THE COMMISSIONER OF CONSUMER

CREDIT.

REVISOR'S NOTE: This subsection presently appears as
Art. 83, § 164(k).

The present reference to "any duly authorized
deputy ..." is deleted as unnecessary, since the
Commissioner may delegate authority in any event.

The only other changes are in style.

(F)        GOODS.

(1)       "GOODS" MEANS ALL TANGIBLE PERSONAL PROPERTY
THAT HAS A CASH PRICE OF $12,500 OR LESS.

(2)       "GOODS" DOES NOT INCLUDE MONEY OR THINGS IN
ACTION.

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