Ch. 682                                       LAWS OF MARYLAND

(1984 Replacement Volume and 1988 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Courts and Judicial Proceedings

5-315.

(A)  (1) IN THIS SECTION THE FOLLOWING WORDS HAVE THE
MEANINGS INDICATED.

(2)  (I) "CREDIT AGREEMENT" MEANS A COVENANT, PROMISE,
UNDERTAKING, COMMITMENT, OR OTHER AGREEMENT BY A FINANCIAL
INSTITUTION TO:

1.  LEND MONEY;

2.  FORBEAR FROM REPAYMENT OF MONEY,
GOODS, OR THINGS IN ACTION;

3.  FORBEAR FROM COLLECTING OR EXERCISING
ANY RIGHT TO COLLECT A DEBT; OR

4.  OTHERWISE EXTEND CREDIT; OR .

5. MAKE ANY OTHER FINANCIAL

ACCOMMODATION.

(II) "CREDIT AGREEMENT" INCLUDES RENDERING
FINANCIAL ADVICE OR AGREEING TO TAKE OR TO NOT TAKE CERTAIN
ACTIONS BY A FINANCIAL INSTITUTION IN CONNECTION WITH AN EXISTING
OR PROSPECTIVE CREDIT AGREEMENT.

(3)  "FINANCIAL INSTITUTION" MEANS:

(I)  A BANK;

(II)  A TRUST COMPANY;

(III)  A SAVINGS BANK;

(IV)  A SAVINGS AND LOAN ASSOCIATION; OR

(V)  AN AFFILIATE OR SUBSIDIARY OF A BANK, TRUST
COMPANY, SAVINGS BANK, OR SAVINGS AND LOAN ASSOCIATION.

(B)  A CREDIT AGREEMENT IS NOT ENFORCEABLE BY WAY OF ACTION
OR DEFENSE UNLESS IT:

(1) IS IN WRITING;

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