WILLIAM DONALD SCHAEFER, Governor                           S.B. 329

(ii) Corrects the error or violation and makes the borrower whole for
all losses, including reasonable attorney's fees and interest, where appropriate, within 10
days after the credit grantor receives notice of the error or violation.

(4) The burden shall be on the credit grantor to show that the credit
grantor's failure to comply with § 12-1003, § 12-1004, § 12-1005, § 12-1008, [or] §
12-1011, § 12-1013.2, § 12-1023(E), § 12-1024, § 12-1025, § 12-1026, § 12-1027, OR § 12-1028 of
this subtitle was unintentional and in good faith.

(b) In addition, a credit grantor who knowingly violates any provision of this
subtitle shall forfeit to the borrower 3 times the amount of interest, FEES, and charges
collected in excess of that authorized by this subtitle.

12-1021.

(j) (1) (I) [The] SUBJECT TO SUBSECTION (L) OF THIS SECTION, THE
credit grantor shall sell the property that was repossessed at:

1.        SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION, A
private sale [(subject to the provisions of paragraph (2) of this subsection)]; or

2.         [at] A public auction.

(II)     At least 10 days before the sale, the credit grantor shall notify the
consumer borrower in writing of the time and place of the sale, by certified mail, return
receipt requested, sent to the consumer borrower's last known address.

(III)    Any sale of repossessed property must be accomplished in a
commercially reasonable manner.

(L) (1) (I) IN THIS SUBSECTION, "CONSUMER GOODS" MEANS ANYTHING
WHICH IS TANGIBLE PERSONAL PROPERTY USED OR BOUGHT FOR USE PRIMARILY
FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES THAT IS:

1. MOVABLE AT THE TIME A SECURITY INTEREST
ATTACHES OR WHICH IS; OR

2. A FIXTURE THAT IS USED OR BOUGHT FOR USE
PRIMARILY FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES.

(II) "CONSUMER GOODS" DOES NOT INCLUDE MONEY,
DOCUMENTS, INSTRUMENTS, ACCOUNTS, CHATTEL PAPER, GENERAL INTANGIBLES,
OR MINERALS OR OTHER NATURAL RESOURCES BEFORE EXTRACTION OR
GENERAL INTANGIBLES.

(2) THIS SUBSECTION APPLIES TO TANGIBLE PERSONAL PROPERTY
SECURING A LOAN THAT:

(I)       HAS BEEN REPOSSESSED BY THE CREDIT GRANTOR; OR

(II)     IS IN ACTUAL OR CONSTRUCTIVE POSSESSION OF THE CREDIT
GRANTOR WHERE THE PERFECTION OF THE SECURITY INTEREST IN THE PROPERTY
DEPENDS ON THE POSSESSION OF THE PROPERTY.

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