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727
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HARRY HUGHES, Governor
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(6) A SELLER OF GOODS OR SERVICES OR BOTH NOT ENGAGED
IN:
(I) MAKING LOANS; OR
(II) OFFERING EXTENSIONS OF CREDIT SECURED BY
SECONDARY LIENS ON RESIDENTIAL REAL PROPERTY.
11-302.
(a) In this section, "installment loan" means a loan OR
EXTENSION OF CREDIT made for consideration under § 12-103(a)(3)
or (c), TITLE 12, SUBTITLE 9, OR TITLE 12, SUBTITLE 10 of the
Commercial Law Article.
Article - Commercial Law
12-306.
(a) (6) Notwithstanding the provisions of paragraphs (a)
(2) through (5) of this section on any loan made on or after July
1, 1982, [and before July 1, 1985,] a lender under this subtitle
may charge interest not exceeding the following rates:
(i) For any loan with an original principal
balance of $2,000 or less, 2.75 percent interest per month on
that part of the unpaid principal balance not more than $1,000
and 2 percent interest per month on that part of the unpaid
principal balance that is more than $1,000;
(ii) For any loan with an original principal
balance of more than $2,000, the maximum rate of interest is 2
percent per month on the unpaid principal balance of the loan.
SUBTITLE 9. BANK CREDIT GRANTOR REVOLVING CREDIT PROVISIONS
12-901.
AS USED IN THIS SUBTITLE:
(A) (1) "CREDIT GRANTOR" MEANS ANY INDIVIDUAL, CORPORATION,
BUSINESS TRUST, ESTATE, TRUST, PARTNERSHIP, ASSOCIATION, TWO OR
MORE PERSONS HAVING A JOINT OR COMMON INTEREST, OR ANY OTHER
LEGAL OR COMMERCIAL ENTITY MAKING A LOAN OR OTHER EXTENSION OF
CREDIT UNDER THIS SUBTITLE WHICH IS INCORPORATED, CHARTERED, OR
LICENSED PURSUANT TO STATE OR FEDERAL LAW, THE LENDING OPERATIONS
OF WHICH ARE SUBJECT TO SUPERVISION, EXAMINATION, AND REGULATION
BY A STATE OR FEDERAL AGENCY OR WHICH IS LICENSED UNDER TITLE 12,
SUBTITLE 4 OF THE FINANCIAL INSTITUTIONS ARTICLE OR IS A
RETAILER.
(A) "BANK" MEANS (2) "CREDIT GRANTOR" INCLUDES:
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