Ch. 11

1996 LAWS OF MARYLAND

(C)     CREDIT INVOLUNTARY UNEMPLOYMENT BENEFIT INSURANCE.

"CREDIT INVOLUNTARY UNEMPLOYMENT BENEFIT INSURANCE" MEANS
INSURANCE ON A DEBTOR THAT PROVIDES INDEMNITY FOR PAYMENTS THAT ARE
DUE ON A SPECIFIC LOAN OR OTHER CREDIT TRANSACTION WHILE THE DEBTOR IS
INVOLUNTARILY UNEMPLOYED AS DEFINED BY THE POLICY.

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 48A, § 436C(c)(11).

The word "credit" is added to modify the term "involuntary unemployment
benefit insurance" for clarity and consistency with other terminology used in
this title.

Defined terms: "Debtor" § 13-101
"Insurance" § 1-101
"Policy" § 1-101

(D)     CREDIT LIFE INSURANCE.

"CREDIT LIFE INSURANCE" MEANS INSURANCE ON THE LIFE OF A DEBTOR IN
CONNECTION WITH A SPECIFIC LOAN OR OTHER CREDIT TRANSACTION.

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 48A, § 436C(c)(l).

The former phrase "pursuant to" is deleted as included in the phrase "in
connection with".

Defined terms: "Debtor" § 13-101
"Insurance" § 1-101

(E)     CREDITOR.
"CREDITOR" MEANS:

(1)     A LENDER OF MONEY OR VENDOR OR LESSOR OF GOODS, SERVICES,
OR PROPERTY RIGHTS OR PRIVILEGES FOR WHICH PAYMENT IS ARRANGED
THROUGH A CREDIT TRANSACTION;

(2)     A SUCCESSOR TO THE RIGHT, TITLE, OR INTEREST OF THE LENDER,
VENDOR, OR LESSOR;

(3)      AN AFFILIATE, ASSOCIATE, SUBSIDIARY, DIRECTOR, OFFICER, OR
EMPLOYEE OF THE LENDER, VENDOR, OR LESSOR; OR

(4)     ANY OTHER PERSON IN ANY WAY ASSOCIATED WITH THE LENDER,
VENDOR, OR LESSOR.

REVISOR'S NOTE: This subsection is new language derived without substantive
change from former Art. 48A, § 436C(c)(3).

Defined term: "Person" § 1-101

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