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Ch. 132 2005 LAWS OF MARYLAND
(d) This section does not apply to any approved servicer that makes or brokers
any mortgage loan in this State.]
12-902.
This subtitle does not apply to:
(1) The following persons when engaged in the regular course of their
respective businesses and professions:
(i) An attorney at law;
(ii) An escrow agent;
(iii) A certified public accountant;
(iv) A banking institution, other-state bank, national banking
association, credit union, or savings and loan association;
(v) A person that:
1. Provides bill payer services, as defined in § 12-401 of this
title;
2. Does not initiate any contract with individual creditors of
the debtor to compromise a debt or arrange a new payment schedule; and
3. Does not provide any debt counseling services;
(vi) A person that provides accelerated mortgage payment services,
as defined in § 12-401 of this title;
[(vii) An approved servicer, as defined in § 11-522 of this article;
(viii)] (VII) A title insurer, title insurance agency, or abstract
company; or
[(ix)] (VIII) A judicial officer or a person acting under a court order;
(2) A person while performing services incidental to the dissolution,
winding up, or liquidation of a partnership, corporation, or other business enterprise;
(3) A trade or mercantile association acting in the course of arranging
the adjustment of debts with a business establishment; or
(4) A mortgage lender, as defined in § 11-501 of this article, that:
(i) Is licensed by the Commissioner; and
(ii) Does not receive funds from a consumer for the purpose of
distributing the funds among the consumer's creditors in full or partial payment of
the consumer's debts.
SECTION 2. AND BE IT FURTHER ENACTED, That Section(s) 11-501(d)
through (o), respectively, of Article - Financial Institutions of the Annotated Code of
Maryland be renumbered to be Section(s) 11-501(c) through (n), respectively.
- 936 -
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