S.B. 329                                                   VETOES

(C) WRITTEN ACKNOWLEDGMENT BY A BORROWER OF DELIVERY MADE IN
ACCORDANCE WITH THIS SECTION OF A COPY OF THE AGREEMENT, NOTE, OR
OTHER EVIDENCE OF THE LOAN IS CONCLUSIVE PROOF OF THE DELIVERY AS
BETWEEN THE BORROWER AND ANY ASSIGNEE OF THE AGREEMENT, NOTE, OR
OTHER EVIDENCE OF THE LOAN WITHOUT ACTUAL KNOWLEDGE TO THE
CONTRARY.

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.]

[(b)](A) If any provision of this subtitle is held invalid, such invalidity shall not
affect any other provisions of this subtitle which can be given effect without the invalid
provision.                                                                                       

[(c)](B) Notwithstanding any provisions of this title, a loan 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.

12-1016.

(a) If a written complaint for violation of any provision of this subtitle,
INCLUDING THE DISCLOSURE REQUIREMENTS OF THIS SUBTITLE AND THE
FEDERAL TRUTH-IN-LENDING ACT AND REGULATIONS PROMULGATED
THEREUNDER, or any other law of this State that regulates loans or other extensions of
credit is filed with the Commissioner of Consumer Credit, the Commissioner; may
investigate the complaint and hold a hearing on it in accordance with § 11-413 of the
Financial Institutions Article.

(b) (1) The Commissioner shall give to the credit grantor against whom a
complaint is filed at least 10 days' written notice of the complaint and. the time and place
of any hearing. The notice shall be in writing and sent by registered or certified mail to
the credit grantor's principal place of business.                                                       

(2) BEFORE A HEARING UNDER THIS SECTION MAY BE SCHEDULED,
THE COMMISSIONER SHALL:

(I) SEND A WRITTEN NOTICE TO THE COMPLAINING PARTY THAT
DESCRIBES THE PROVISIONS IN PARAGRAPH (3) OF THIS SUBSECTION CONCERNING
PRECLUSION; AND                                                                                           

(II) OBTAIN FROM THE COMPLAINING PARTY A WRITTEN:

1.        ELECTION TO PROCEED WITH A HEARING IN
ACCORDANCE WITH THIS SECTION; AND

2.        WAIVER OF ANY RIGHT TO PURSUE ANY CAUSE OF
ACTION OR REMEDY AS TO THE MATTERS ADDRESSED IN THE COMPLAINT OR THE
HEARING.

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