Ch. 651                                       LAWS OF MARYLAND

(II) SENDS A NOTICE OF AGREEMENT TO THE CREDIT
GRANTOR IN WHICH THE BORROWER EXPRESSLY AGREES TO THE AMENDMENT.

(3) A BORROWER WHO RECEIVES A NOTICE OF AMENDMENT
UNDER THIS SUBSECTION MAY PAY ANY OUTSTANDING UNPAID INDEBTEDNESS
IN THE ACCOUNT UNDER THE TERMS OF THE UNAMENDED AGREEMENT
GOVERNING THE PLAN IF THE BORROWER DOES NOT:

(I)  MAKE ANY PURCHASE OR OBTAIN ANY LOAN UNDER
THE PLAN AFTER THE DATE SPECIFIED IN THE NOTICE OF AMENDMENT; OR

(II)  SEND A NOTICE OF AGREEMENT TO THE CREDIT
GRANTOR IN WHICH THE BORROWER EXPRESSLY AGREES TO THE AMENDMENT.

[(c)] (E) [Except as limited by subsection (b)(3) of this
section, if] IF the terms of the agreement governing the plan, as
originally drawn or as amended provide, any amendment may, on and
after the date on which it becomes effective as to a particular
borrower, apply to all then outstanding unpaid indebtedness in
the borrower's account under the plan, including any indebtedness
which shall have arisen out of purchases made or loans obtained
prior to the effective date of the amendment.

[(d)] (F) For purposes of this section, a decrease in the
required amount of scheduled payments shall not be deemed an
amendment which has the effect of increasing the interest or
finance charges to be paid by the borrower.

[(e)] (G) The procedures for amendment by a credit grantor
of the terms of a plan to which a borrower other than a consumer
borrower is a party may, notwithstanding the provisions of this
section, be as the agreement governing the plan may otherwise
provide.

(H) THIS SECTION DOES NOT APPLY TO ANY EXTENSIONS OF CREDIT
SECURED BY REAL PROPERTY.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1989.

Approved May 25, 1989.

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