Ch. 11 LAWS OF MARYLAND
(7) Up to 3 years during which the borrower is
serving an internship which is required to begin professional
practice or service as determined by the Board and the Secretary;
(8) Up to 3 years during which the borrower is
temporarily totally disabled as established by sworn affidavit of
a qualified physician, or during which the borrower is unable to
secure employment by reason of care required by a spouse who is
so disabled;
(9) Conscientiously seeking but unable to find [full
time] FULL-TIME employment in the United States over a single
period of up to 12 months as prescribed by the Board or the
Secretary; or
(10) Other periods established by the Board or the
Secretary.
DRAFTER'S NOTE: This corrects a misspelling in § 18-1009(a)
of the Education Article.
The misspelling of the adjective "full-time" occurred
in Ch. 313 of the Acts of 1981.
The misspelling was noted by the Computer Division of
the Department of Legislative Reference.
(b) (2) Except as provided in paragraph (3) [below] OF THIS
SUBSECTION, a lender shall allow a borrower at least 5 years, but
not more than 10 years, to repay a loan, calculated from the
beginning of the repayment period. The borrower shall fully repay
a loan within 15 years from the date of the note or agreement
evidencing the loan.
(3) (ii) If the minimum annual repayment required in
paragraph (5) OF THIS SUBSECTION would result in complete
repayment of the loan in less than 5 years, the borrower is not
entitled to the full 5 year period. During the grace period, the
borrower may request and be granted by the lender a repayment
period of less than 5 years. At any time the borrower may have
the repayment period extended to a minimum of 5 years.
DRAFTER'S NOTE: This corrects stylistic errors in internal
references in § 18-1009(b)(2) and (3)(ii) of the
Education Article.
The stylistic errors occurred in Ch. 313 of the Acts
of 1981.
The stylistic errors were noted by the professional
staff of the Legislative Division of the Department of
Legislative Reference.
- 286 -
|