WILLIAM DONALD SCHAEFER, Governor                   Ch. 469

penalties; providing administrative remedies; providing
certain limitation periods; making provisions of this Act
severable; and generally relating to the regulation of
credit services businesses.

BY adding to

Article - Commercial Law

Section 14-1901 through 14-1916, inclusive, to be under the

new subtitle "Subtitle 19. Maryland Credit Services

Businesses Act"
Annotated Code of Maryland
(1983 Replacement Volume and 1986 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Commercial Law

SUBTITLE 19. MARYLAND CREDIT SERVICES BUSINESSES ACT

14-1901.

(A)  IN THIS SUBTITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.

(B)  (1) "CREDIT SERVICES BUSINESS" MEANS ANY PERSON WHO,
WITH RESPECT TO THE EXTENSION OF CREDIT BY OTHERS, SELLS,
PROVIDES OR PERFORMS, OR REPRESENTS THAT SUCH PERSON CAN OR WILL
SELL, PROVIDE, OR PERFORM, ANY OF THE FOLLOWING SERVICES IN
RETURN FOR THE PAYMENT OF MONEY OR OTHER VALUABLE CONSIDERATION:

(I) IMPROVING A CONSUMER'S CREDIT RECORD,
HISTORY, OR RATING;

CONSUMER; OR

(II) OBTAINING AN EXTENSION OF CREDIT FOR A

(III) PROVIDING ADVICE OR ASSISTANCE TO A
CONSUMER WITH REGARD TO EITHER SUBPARAGRAPH (I) OR (II) OF THIS
SUBSECTION.

(2) "CREDIT SERVICES BUSINESS" DOES NOT INCLUDE:

(I)  ANY PERSON AUTHORIZED TO MAKE LOANS OR
EXTENSIONS OF CREDIT UNDER THE LAWS OF THIS STATE OR THE UNITED
STATES;

(II)  ANY BANK, TRUST COMPANY, SAVINGS BANK, OR
SAVINGS AND LOAN ASSOCIATION WHOSE DEPOSITS OR ACCOUNTS ARE
ELIGIBLE FOR INSURANCE BY THE STATE OF MARYLAND DEPOSIT INSURANCE
FUND CORPORATION, THE FEDERAL DEPOSIT INSURANCE CORPORATION, OR

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