US Lawyer Database

Section 12-1013.1 – General Provisions

    (a)    (1)    On or after October 1, 1993, 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.         (2)    In order to make a loan under this subtitle, a credit grantor shall make a written election to that effect in the […]

Section 12-1013.2 – Delivery of Agreement, Note, or Other Evidence of Loan

    (a)    (1)    Except as provided under paragraph (2) of this subsection, the credit grantor shall deliver a copy of the agreement, note, or other evidence of the loan to the borrower no later than the time of consummation of the loan.         (2)    If consummation of the loan does not occur in a face-to-face transaction between the credit grantor […]

Section 12-1014 – General Provisions

    (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.     (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, […]

Section 12-913.2 – Delivery of Plan Agreement; Proof of Delivery

    (a)    The credit grantor shall deliver a copy of the agreement governing the plan to the borrower no later than 30 days after the credit grantor establishes the account governed by the agreement for the borrower’s use.     (b)    If there is more than one borrower, a copy of the agreement governing the plan may be delivered to […]

Section 12-1002 – Authorized Extensions of Credit

    (a)    Any credit grantor may, subject to the other provisions of this subtitle, offer and extend closed end credit to a borrower.     (b)    In connection with closed end credit offered and extended under this subtitle, a credit grantor may charge and collect the interest and other charges permitted by this subtitle and may take any security as […]

Section 12-914 – General Provisions

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

Section 12-915 – Applicability of Certain Provisions of Financial Institutions Article; License to Be Issued by Commissioner of Financial Regulation

    (a)    A credit grantor making a loan or extension of credit under this subtitle is subject to the licensing, investigatory, enforcement and penalty provisions of Title 11, Subtitle 3 of the Financial Institutions Article unless the credit grantor or the loan or extension of credit is exempt under Title 11, Subtitle 3 of the Financial Institutions […]

Section 12-916 – Complaint Procedure

    (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 Financial Regulation, the Commissioner […]

Section 12-917 – Criminal Penalties

    Any credit grantor or his officer or employee who willfully violates any provision of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding 1 year, or both.

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 […]