Ch. 476

LAWS OF MARYLAND

(I) SECURED, IN WHOLE OR IN PART, BY ANY
INTEREST IN RESIDENTIAL REAL PROPERTY IN MARYLAND; AND

(II)' 1. IF FOR PERSONAL, HOUSEHOLD, OR FAMILY
PURPOSES, IN ANY AMOUNT; OR

2. IF FOR COMMERCIAL PURPOSES, NOT IN
EXCESS OF $75,000.

(2)   "MORTGAGE LOAN" DOES NOT INCLUDE ANY LOAN FOR
COMMERCIAL PURPOSES THAT IS:

(I)  SECURED, IN WHOLE OR IN PART, BY ANY
INTEREST IN RESIDENTIAL REAL PROPERTY IN MARYLAND;

(II)   IN EXCESS OF $75,000; AND

(III)  SUPPORTED BY INDEPENDENT EVIDENCE OF"' THE
COMMERCIAL PURPOSE.

(L) "PERSON" INCLUDES AN INDIVIDUAL, CORPORATION, BUSINESS
TRUST, ESTATE, TRUST, PARTNERSHIP, ASSOCIATION, 2 OR MORE PERSONS
HAVING A JOINT OR COMMON INTEREST, OR ANY OTHER LEGAL OR
COMMERCIAL ENTITY.

(M) "RESIDENTIAL REAL PROPERTY" MEANS ANY OWNER-OCCUPIED
REAL PROPERTY LOCATED IN MARYLAND, WHICH PROPERTY HAS A DWELLING
ON IT DESIGNED PRINCIPALLY AS A RESIDENCE WITH ACCOMMODATIONS FOR
NOT MORE THAN 4 FAMILIES, BUT DOES NOT INCLUDE ANY REAL PROPERTY
HELD PRIMARILY FOR RENTAL, INVESTMENT, OR THE GENERATION OF
INCOME THROUGH ANY COMMERCIAL OR INDUSTRIAL ENTERPRISE.

(N) "STATE" MEANS THE STATE OF MARYLAND.

11-502.

(A) THE PROVISIONS OF THIS SUBTITLE DO NOT APPLY TO:

(1) ANY BANK, TRUST COMPANY, SAVINGS BANK, SAVINGS
AND LOAN ASSOCIATION, OR CREDIT UNION INCORPORATED OR CHARTERED
UNDER THE LAWS OF THE STATE OR THE UNITED STATES OR ANY OTHER
FINANCIAL INSTITUTION INCORPORATED OR CHARTERED UNDER THE LAWS OF
THIS STATE OR OF THE UNITED STATES THAT ACCEPTS DEPOSITS AND IS
REGULATED UNDER TITLE 3, TITLE 4, TITLE 5, TITLE 6, OR TITLE 9 OF
THIS ARTICLE;

(2) ANY INSURANCE COMPANY AUTHORIZED TO DO BUSINESS
IN THE STATE;

(3)  ANY CORPORATE INSTRUMENTALITY OF THE GOVERNMENT
OF THE UNITED STATES INCLUDING:

(I) THE FEDERAL HOME LOAN MORTGAGE CORPORATION;

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