Section 12-1018 – Civil Penalties
(a) (1) In this subsection, “notice” means the first to occur of the following: (i) When the credit grantor receives a written notice from the borrower notifying the credit grantor of an error or violation; (ii) When the credit grantor receives a written notice from the Commissioner of Financial Regulation or the appropriate regulatory authority notifying the credit grantor […]
Section 12-1006 – Deferral of Scheduled Payments; Deferral Charges; Insurance Premiums
A credit grantor may at any time permit a borrower to defer scheduled payments of a loan and may, in connection with the deferral and by agreement of the credit grantor and borrower: (1) Charge and collect deferral charges; and (2) Require payment by the borrower of the additional cost to the credit grantor of premiums for […]
Section 12-1018.1 – Civil Penalties — Exception
(a) In this section, “Commissioner” means the Commissioner of Financial Regulation. (b) Except as provided in subsection (c) of this section, the penalty provided under § 12–1018(a)(2) of this subtitle does not apply if a credit grantor: (1) Performed or omitted to perform an act in conformity with or in reliance upon: (i) A written opinion of the Attorney […]
Section 12-918 – Civil Penalties
(a) (1) In this subsection, “notice” means the first to occur of the following: (i) When the credit grantor receives a written notice from the borrower notifying the credit grantor of an error or violation; (ii) When the credit grantor receives a written notice from the Commissioner of Financial Regulation or the appropriate regulatory authority notifying the credit grantor […]
Section 12-918.1 – Civil Penalties — Exception
(a) In this section, “Commissioner” means the Commissioner of Financial Regulation. (b) Except as provided in subsection (c) of this section, the penalty provided under § 12–918(a)(2) of this subtitle does not apply if a credit grantor: (1) Performed or omitted to perform an act in conformity with or in reliance on: (i) A written opinion of the Attorney […]
Section 12-919 – Limitation of Actions
An action for violation of this subtitle may not be brought more than 6 months after the credit extension is repaid in full.
Section 12-920 – Limitation on Credit Grantor’s Liability
A credit grantor is not liable for any failure to comply with a provision of this subtitle if, within 60 days after discovering an error and prior to institution of an action under this subtitle or the receipt of written notice from the borrower, the credit grantor notifies the borrower of the error and makes […]
Section 12-921 – Repossession
(a) (1) A credit grantor may repossess tangible personal property securing a plan under an agreement if the consumer borrower is in default. (2) The credit grantor may repossess tangible personal property from a consumer borrower only by: (i) Legal process; or (ii) Self-help, without use of force. (b) Nothing in this section authorizes a violation of criminal law. (c) (1) Except as […]
Section 12-922 – Definitions; Financing Agreements
(a) (1) In this section the following words have the meanings indicated. (2) “Borrower” means a consumer borrower who makes an application for a loan secured by a first mortgage or first deed of trust on residential real property to be occupied by the borrower as the borrower’s primary residence. (3) “Commitment” means a written, specific, binding agreement between […]
Section 12-923 – Agreements Governing Revolving Credit Plans
(a) This section applies only to a plan established by a credit grantor under this subtitle for a consumer borrower. (b) (1) Paragraph (2) of this subsection applies only to a loan or an extension of credit primarily for personal, household, or family purposes. (2) An agreement governing a revolving credit plan or any instrument which evidences or secures […]