598

LAWS OF MARYLAND

Ch. 33

IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

REVISOR'S NOTE: This subsection presently appears as
the introductory clause of Art. 66, § 40.

The present phrase "unless the context otherwise
requires" is deleted as unnecessary.

The only other changes are in style.

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

(B)       LICENSE.

"LICENSE" MEANS A LICENSE ISSUED BY THE BANK
COMMISSIONER UNDER THIS SUBTITLE TO MAKE SECONDARY MORTGAGE
LOANS.

REVISOR'S NOTE: This subsection is new language added
to avoid unnecessary repetition in this subtitle
of phrases such as "license to make loans under
the Maryland Secondary Mortgage Loan Law" and
"license issued under this subtitle".

(C)   LIEN ON REAL PROPERTY.
"LIEN ON REAL PROPERTY" INCLUDES:

(1)   A CONFESSED JUDGMENT NOTE OR CONSENT
JUDGMENT REQUIRED BY A PERSON WHO ORDINARILY REQUIRES SUCH
AN INSTRUMENT FOR THE PURPOSE OF ACQUIRING A LIEN ON
PROPERTY DESCRIBED IN SUBSECTION (F) OF THIS SECTION; AND

(2)   A SALE AND LEASEBACK REQUIRED BY A PERSON
FOR THAT PURPOSE.

REVISOR'S NOTE: This subsection is new language derived
from the second sentence of Art. 66, § 40(a).

It is revised to conform to the substantively
identical definition of "lien on real property"
in the Maryland Secondary Mortgage Loan Law —
Credit Provisions in CL § 12-401.

(D)       MARYLAND SECONDARY MORTGAGE LOAN LAW.

"MARYLAND SECONDARY MORTGAGE LOAN LAW" MEANS THIS
SUBTITLE AND TITLE 12, SUBTITLE 4 OF THE COMMERCIAL LAW
ARTICLE.

REVISOR'S NOTE: This subsection is new language added
for clarity. See also § 12-321 of this subtitle.

(E) PERSON.