Ch. 476                                           LAWS OF MARYLAND

borrower [offering extensions of credit by a secondary lien on
residential real property], a credit grantor making a loan or
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] TITLE 11, SUBTITLE 5 of the Financial Institutions
Article.

(c)  A license required by this section shall be issued by
the Commissioner of Consumer Credit.

12-1013.

(A)  The provisions of any other law of this State limiting
the rate or amount of interest, discount, points, finance
charges, service charges, fines, fees, commissions, costs,
expenses, or other charges which may be charged, taken,
collected, received, or reserved shall not apply to extensions of
credit made in accordance with this subtitle.

(B)  TO THE EXTENT APPLICABLE, A CREDIT GRANTOR SHALL COMPLY
WITH § 12-125 OF THIS TITLE.

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] TITLE 11, SUBTITLE 5 of the Financial Institutions
Article.

(c)  A license required by this section shall be issued by
the Commissioner of Consumer Credit.

- 3050 -