WILLIAM DONALD SCHAEFER, Governor                         Ch. 404

(c) Notwithstanding any other provisions of this title, a plan under this subtitle is
subject only to the disclosure requirements of this subtitle and, to the extent applicable,
of the federal Truth-in-Lending Act and regulations promulgated thereunder.

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] DO not apply to extensions of credit made in accordance with this subtitle.

(b)      [To] NOTWITHSTANDING SUBSECTIONS (A) AND (C) OF THIS SECTION, TO
the extent applicable, a credit grantor shall comply with § 12-125 of this title.

(C) (1) UNLESS OTHERWISE PROVIDED UNDER THE EXPRESS TERMS OF
THE AGREEMENT, NOTE, OR OTHER EVIDENCE OF THE EXTENSION OF CLOSED END
CREDIT, THE PROVISIONS OF SUBTITLE 1, 3, 4, 5, 6, OR 9 OF THIS TITLE DO NOT APPLY
TO AN EXTENSION OF CLOSED END CREDIT IF:

(I)      THE AGREEMENT, NOTE, OR OTHER EVIDENCE OF THE
EXTENSION OF CREDIT IS MADE BEFORE OCTOBER 1, 1993; AND

(II)     THE EXTENSION OF CREDIT IS MADE UNDER THIS SUBTITLE
BEFORE OCTOBER 1, 1993.

(2)      FOR THE PURPOSES OF PARAGRAPH (1) OF THIS SUBSECTION, AN
EXTENSION OF CREDIT IS MADE UNDER THIS SUBTITLE IF:

(I)      THE CREDIT GRANTOR HAS MADE A WRITTEN ELECTION TO
DO SO IN THE AGREEMENT, NOTE, OR OTHER EVIDENCE OF THE EXTENSION OF
CREDIT; OR

(II)     THE AGREEMENT, NOTE, OR OTHER EVIDENCE OF THE
EXTENSION OF CREDIT IS MADE PURSUANT TO THE PROVISIONS OF THIS SUBTITLE.

(3)      FOR THE PURPOSES OF PARAGRAPH (1) OF THIS SUBSECTION, IF
THERE IS NO WRITTEN ELECTION TO EXTEND CREDIT UNDER THIS SUBTITLE, THE
BURDEN OF PROOF IS ON THE CREDIT GRANTOR TO SHOW THE AGREEMENT, NOTE,
OR OTHER EVIDENCE OF THE EXTENSION OF CREDIT WAS MADE PURSUANT TO THIS
SUBTITLE.

(4)     ANY AGREEMENT, NOTE, OR OTHER EVIDENCE OF AN EXTENSION
OF CREDIT MADE BEFORE OCTOBER 1, 1993 IS NOT SUBJECT TO § 12-1013.2 OF THIS
SUBTITLE.

12-1014.

(a) Notwithstanding any other provisions of this title, a credit grantor may at its
option elect to make a loan to any borrower either pursuant to this subtitle or as
otherwise permitted by applicable law.

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