HARRY HUGHES, Governor

731

(i) A loan to any corporation unless the
lender required the borrower to incorporate as a condition
for obtaining the loan; or

(ii) A COMMERCIAL loan OF MORE THAN $5,000

IN § 12-101 OF THIS ARTICLE [in excess of $5,000].

(J) [(k)] Wages.

"Wages" means all remuneration paid to any employee for
his employment, including the cash value of all remuneration
paid in any medium other than cash.

SUPPLEMENTAL REVISOR'S NOTE: Ch.___, Acts of 1980,

which enacted the Financial Institutions Article,
also amended this section to delete the
definition of "Commissioner". This deletion is
made for consistency with the Financial
Institutions Article, in which the full title of
the Bank commissioner is used; it also is made to
avoid confusion with Subtitle 3 of this title, in
which "Commissioner" is defined as the
Commissioner of Consumer Credit, and Subtitle 7
of this title, in which "Commissioner" is defined
as "the Commissioner of Consumer Credit, except
when used concerning actions of a banking
institution when it shall mean the State Banking
{sic} Commissioner". The present reference to
the "Commissioner" in § 12-407(b) of this
subtitle, the only section in this subtitle in
which that term is used, is deleted and replaced
by "Bank Commissioner".

12-407.

(b) Statement to borrower.

At the time a loan is made, the lender shall deliver to
the borrower a statement in a form [prescribed] REQUIRED by
the BANK Commissioner [which] THAT complies with § 12—106(b)
OF THIS TITLE.

SUPPLEMENTAL REVISOR'S NOTE: Ch. __, Acts of 1980,

which enacted the Financial Institutions Article,
also amended subsection (b) of this section to
substitute             "Bank Commissioner" for

"Commissioner". See the Supplemental Revisor's
Note to § 12-401 of this subtitle.

12-601.

(b) Agreement.

"Agreement" [includes] MEANS an installment sale
agreement, a renewed or extended installment sale agreement,