4368                                      LAWS OF MARYLAND                                    Ch. 809

Installment Loans - Licensing

FOR the purpose of exempting from the requirement that
certain institutions be licensed to make loans, certain
educational institutions that loan their students or
the parents or guardian of their students moneys for
tuition or expenses.

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 11-301

Annotated Code of Maryland

(1980 Volume and 1981 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
read(s) as follows:

Article - Financial Institutions

11-301.

(a)  This subtitle does not apply to any loan:

(1)  Between relatives;

(2)  Between an employer and an employee; [or]

(3)  Between a landlord and a tenant; OR

(4)  BETWEEN A PROFESSIONAL OR PRIMARY OR

SECONDARY OR NONPROFIT DEGREE-GRANTING POSTSECONDARY
ACADEMIC EDUCATIONAL INSTITUTION AND A STUDENT OR PARENTS OR
GUARDIAN OF THAT STUDENT, FOR TUITION OR OTHER EXPENSES OF
EDUCATION AT THAT INSTITUTION.

(b)  The licensing provisions of this subtitle do not
apply to any of the following persons, if organized under
the laws of this State or otherwise qualified to do business
in this State:

(1)

(2)

(3)
association;

(4)

(5)
State.

A banking institution;

A national banking association;

A federal or state savings and loan

A federal or state credit union; or

A licensee under any lending law of this