§ 12–1013.1
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 12-1013.1 (2026)
Title 12. Credit Regulations
Subtitle 10. Credit Grantor Closed End Credit Provisions
§ 12–1013.1LinkCopy Citation
(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 agreement, note, or other evidence of the loan.
(b)
(1)
If a credit grantor elects in accordance with this section to make a loan under this subtitle, the provisions of Subtitle 1, 3, 4, 5, 6, or 9 of this title do not apply to the loan.
(2)
If a person fails to elect in accordance with this section to extend closed end credit under this subtitle, the provisions of this subtitle do not apply.