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751
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HARRY HUGHES, Governor
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(3) A PERSON ENGAGED IN THE BUSINESS OF A SALES
FINANCE COMPANY AS DEFINED IN TITLE 11, SUBTITLE 5 OF THE
FINANCIAL INSTITUTIONS ARTICLE.
12-1015.
(A) EXCEPT FOR A SELLER OF GOODS OR SERVICES NOT ENGAGED IN
MAKING CASH ADVANCES TO BE PAID TO OR FOR THE ACCOUNT OF A
BORROWER OR OFFERING EXTENSIONS OF CREDIT SECURED BY A SECONDARY
LIEN ON RESIDENTIAL REAL PROPERTY, A CREDIT GRANTOR MAKING A LOAN
OR AN EXTENSION OF CREDIT UNDER THIS SUBTITLE NOT SECURED BY A
SECONDARY LIEN ON RESIDENTIAL REAL PROPERTY IS SUBJECT TO THE
LICENSING, INVESTIGATORY, ENFORCEMENT AND PENALTY PROVISIONS OF"
TITLE 11, SUBTITLE 3 OF THE FINANCIAL INSTITUTIONS ARTICLE.
(B) IN ADDITION TO THE LICENSE REQUIRED BY SUBSECTION (A)
OF THIS SECTION, A CREDIT GRANTOR MAKING A LOAN OR EXTENSION OF
CREDIT UNDER THIS SUBTITLE SECURED BY A SECONDARY LIEN ON
RESIDENTIAL REAL PROPERTY IS SUBJECT TO THE LICENSING,
INVESTIGATORY, ENFORCEMENT AND PENALTY PROVISIONS OF TITLE 12,"
SUBTITLE 3 OF THE FINANCIAL INSTITUTIONS ARTICLE.
(C) A LICENSE REQUIRED BY THIS SECTION SHALL BE ISSUED BY
THE COMMISSIONER OF CONSUMER CREDIT.
12-1016.
(A) IF A WRITTEN COMPLAINT FOR VIOLATION OF ANY PROVISION
OF THIS SUBTITLE OR ANY OTHER LAW OF THIS STATE THAT REGULATES
LOANS OR OTHER EXTENSIONS OF CREDIT IS FILED WITH THE
COMMISSIONER OF CONSUMER CREDIT, THE COMMISSIONER MAY INVESTIGATE
THE COMPLAINT AND HOLD A HEARING ON IT IN ACCORDANCE WITH §
11-413 OF THE FINANCIAL INSTITUTIONS ARTICLE.
(B) THE COMMISSIONER SHALL GIVE TO THE CREDIT GRANTOR
AGAINST WHOM A COMPLAINT IS FILED AT LEAST 10 DAYS' WRITTEN
NOTICE OF THE COMPLAINT AND THE TIME AND PLACE OF ANY HEARING.
THE NOTICE SHALL BE IN WRITING AND SENT BY REGISTERED OR
CERTIFIED MAIL TO THE CREDIT GRANTOR'S PRINCIPAL PLACE OF
BUSINESS.
(C) (1) IF, AFTER THE HEARING, THE COMMISSIONER FINDS THAT
THE CREDIT GRANTOR HAS ENGAGED OR IS ENGAGING IN ANY ACT OR
PRACTICE PROHIBITED BY THIS SUBTITLE, THE COMMISSIONER SHALL
ORDER THE PERSON TO CEASE AND DESIST FROM THE ACT OR PRACTICE.
(2) THE ORDER OF THE COMMISSIONER SHALL COMPLY WITH
THE ADMINISTRATIVE PROCEDURE ACT OF THE CODE.
(D) (1) IF NO APPEAL IS FILED, THE ORDER BECOMES FINAL
AFTER EXPIRATION OF THE TIME ALLOWED BY THE ADMINISTRATIVE
PROCEDURE ACT FOR APPEALS FROM THE COMMISSIONER'S ORDERS.
(2) IF AN APPEAL IS FILED, THE ORDER BECOMES FINAL
AFTER FINAL DECISION OF THE COURT AFFIRMING THE ORDER OR
DISMISSING THE APPEAL.
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