Ch. 5                                    LAWS OF MARYLAND

(3) The Commissioner of Consumer Credit may make a
determination concerning any private sale that the sale was not
accomplished in a commercially reasonable manner. Upon that
determination, the Commissioner may enter an order disallowing
any claim for a deficiency balance.

DRAFTER'S NOTE:

Errors: Title of bill being cured failed to give
notice of amendments made to laws relating to
notice required to be given by mail to
borrowers. Title also failed to give notice
that amendments affected credit laws other than
revolving credit laws.

Occurred: Chapter 765 (Senate Bill 839) of the Acts
of 1987.

Noted by: Attorney General, bill review letter of May
27, 1987.

Article - Education

18-1306.

(g) The Authority may:

(1)  Issue bonds for any of its corporate purposes and
borrow funds as' working capital for its operations;

(2)  Fix, revise, charge and collect rates, fees and
charges for the services furnished or to be furnished by the
Authority and contract with any person, including financial
institutions, loan originators, servicers, administrators,
issuers of letters of credit, and insurers;

(3)  Employ consultants, attorneys, accountants,
financial experts, loan processors, bankers, managers, and other
employees and agents as may be necessary in its judgment, and fix
their compensation;

(4)  Establish regulations, criteria or guidelines
with respect to Authority loans, education loans, and education
loan series portfolios;

(5)  Receive and accept from any source and in any
form, loans, appropriations, transfers from the State Reserve
Fund, contributions, gifts, or grants for or in aid of any
Authority purpose or education loan financing program and, when
required, use the funds, property or labor only for the purposes
for which it was provided;

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