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736
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LAWS OF MARYLAND
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Ch. 143
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(D) THE OFFERING AND PLACEMENT OF INSURANCE UNDER THIS
SECTION SHALL BE SUBJECT TO THE PROVISIONS OF THE MARYLAND
INSURANCE CODE.
12-910.
(A) IF THE AGREEMENT GOVERNING A REVOLVING CREDIT PLAN
PERMITS, A BANK CREDIT GRANTOR MAY:
(1) FOR A NONCONSUMER BORROWER, CHARGE A HIGHER
PERIODIC PERCENTAGE RATE OF INTEREST ON OUTSTANDING UNPAID
PAYMENTS OR PORTIONS OF PAYMENTS UNDER THE PLAN WHICH ARE IN
DEFAULT; AND
(2) FOR ANY BORROWER, IMPOSE A LATE OR DELINQUENCY
CHARGE UPON PAYMENTS OR PORTIONS OF PAYMENTS.
(B) (1) NO MORE THAN ONE LATE OR DELINQUENCY CHARGE MAY BE
IMPOSED FOR ANY SINGLE SCHEDULED PAYMENT OR PORTION REGARDLESS OF
THE PERIOD DURING WHICH IT REMAINS IN DEFAULT.
(2) FOR THE PURPOSE OF THIS SUBSECTION, ALL PAYMENTS
BY THE BORROWER SHALL BE APPLIED TO SATISFACTION OF SCHEDULED
PAYMENTS IN THE ORDER IN WHICH THEY BECOME DUE.
(3) LATE OR DELINQUENCY CHARGES SHALL NOT BE
CONSIDERED INTEREST OR FINANCE CHARGES UNDER THE PLAN.
12-911.
(A) IF A BORROWER DEFAULTS UNDER THE TERMS OF A PLAN AND
THE BANK CREDIT GRANTOR REFERS THE BORROWER'S ACCOUNT TO AN
ATTORNEY WHO IS NOT A SALARIED EMPLOYEE OF THE BANK CREDIT
GRANTOR FOR COLLECTION, THE BANK CREDIT GRANTOR MAY, IF THE
AGREEMENT GOVERNING THE REVOLVING CREDIT PLAN PERMITS, CHARGE AND
COLLECT FROM THE BORROWER A REASONABLE ATTORNEY'S FEE.
(B) IF THE AGREEMENT GOVERNING THE REVOLVING CREDIT PLAN
PERMITS, THE BANK CREDIT GRANTOR MAY RECOVER FROM THE BORROWER
ALL COURT OR OTHER COLLECTION COSTS ACTUALLY INCURRED BY THE BANK
CREDIT GRANTOR RELATING TO THE BORROWER'S DEFAULT.
12-912.
(A) A BANK CREDIT GRANTOR MAY, IF THE AGREEMENT GOVERNING
A REVOLVING CREDIT PLAN PERMITS, AT ANY TIME AMEND THE TERMS OF
THE AGREEMENT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION
INCLUDING:
(1) THE TERMS GOVERNING THE PERIODIC PERCENTAGE RATE
USED TO CALCULATE INTEREST OR FINANCE CHARGES;
(2) THE METHOD OF COMPUTING THE OUTSTANDING UNPAID
INDEBTEDNESS TO WHICH THE RATE IS APPLIED;
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