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728
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Ch. 143
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LAWS OF MARYLAND
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(I) ANY BANK, TRUST COMPANY, OR SAVINGS BANK
HAVING ITS PRINCIPAL PLACE OF BUSINESS IN THIS STATE AND
INCORPORATED UNDER THE LAWS OF THIS STATE OR ANY DEPOSITORY
INSTITUTION HAVING ITS PRINCIPAL PLACE OF BUSINESS IN THIS STATE
AND ORGANIZED UNDER THE AUTHORITY OF THE UNITED STATES; AND
(II) ANY SUBSIDIARY OF A BANK HOLDING COMPANY,
AS DEFINED IN THE FEDERAL BANK HOLDING COMPANY ACT OF 1956, AS
AMENDED, WHICH IS DOMICILED, DOING BUSINESS, AND OFFERING A
REVOLVING CREDIT PLAN INVOLVING THE ISSUANCE OF CREDIT DEVICES IN
THIS STATE.
(B) "BORROWER" MEANS A CORPORATION, PARTNERSHIP,
ASSOCIATION, GOVERNMENT OR GOVERNMENTAL SUBDIVISION OR AGENCY,
TRUST, INDIVIDUAL, OR OTHER ENTITY BORROWING RECEIVING A LOAN OR
OTHER EXTENSION OF CREDIT UNDER THIS SUBTITLE.
(C) "CONSUMER BORROWER" MEANS AN INDIVIDUAL BORROWING
RECEIVING A LOAN OR OTHER EXTENSION OF CREDIT UNDER THIS SUBTITLE
FOR PERSONAL, HOUSEHOLD, OR FAMILY PURPOSES.
(D) "REVOLVING CREDIT PLAN" OR "PLAN" MEANS A PLAN THAT
CONTEMPLATES THE EXTENSION OF CREDIT UNDER AN ACCOUNT GOVERNED BY
AN AGREEMENT BETWEEN A BANK CREDIT GRANTOR AND A BORROWER UNDER
WHICH:
(1) THE BANK CREDIT GRANTOR PERMITS THE BORROWER AND,
IF THE AGREEMENT GOVERNING THE PLAN PERMITS, PERSONS ACTING ON
BEHALF OF OR WITH AUTHORIZATION FROM THE BORROWER TO MAKE
PURCHASES OR OBTAIN LOANS FROM TIME TO TIME;
(2) THE AMOUNTS OF PURCHASES AND LOANS ARE CHARGED TO
THE BORROWER'S ACCOUNT;
(3) THE BORROWER IS REQUIRED TO PAY THE BANK CREDIT
GRANTOR THE AMOUNTS OF ALL PURCHASES AND LOANS CHARGED TO THE
BORROWER'S ACCOUNT UNDER THE PLAN BUT HAS THE PRIVILEGE OF PAYING
AMOUNTS DUE FROM TIME TO TIME AS AGREED; AND
(4) INTEREST OR FINANCE CHARGES MAY BE CHARGED AND
COLLECTED BY THE BANK CREDIT GRANTOR FROM TIME TO TIME ON THE
AMOUNTS DUE UNDER THE PLAN.
(E) "PURCHASE" MEANS AN EXTENSION OF CREDIT FOR A PURCHASE
OF REAL OR PERSONAL, TANGIBLE OR INTANGIBLE PROPERTY, OR AN
EXTENSION OF CREDIT FOR SERVICES, LICENSES, TAXES, OFFICIAL FEES,
FINES, PRIVATE OR GOVERNMENTAL OBLIGATIONS, OR ANY OTHER THING OF
VALUE, INCLUDING A CHARITABLE CONTRIBUTION.
(F) "LOAN" MEANS A CASH ADVANCE TO BE PAID TO OR FOR THE
ACCOUNT OF THE BORROWER.
(G) "CREDIT DEVICE" MEANS ANY CARD, PLATE, CHECK, DRAFT,
IDENTIFICATION CODE, OR OTHER MEANS OF IDENTIFICATION
CONTEMPLATED BY THE AGREEMENT GOVERNING THE PLAN.
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