# Commercial Law (GCL)

## Title 12. Credit Regulations

### Subtitle 7. Equal Credit Opportunity Act

#### Section 12-701

(a) In this subtitle the following words have the meanings indicated.

(b) "Applicant" means any person who applies to a creditor:

  (1) Directly for an extension, renewal, or continuation of credit; or

  (2) Indirectly by use of an existing credit plan for an amount exceeding a previously established credit limit.

(c) "Commissioner" means the Commissioner of Financial Regulation.

(d) "Credit" means the right granted by a creditor to a debtor to:

  (1) Defer payment of a debt;

  (2) Incur a debt and defer its payment; or

  (3) Purchase property or services and defer payment for it.

(e) "Creditor" means any person who regularly:

  (1) Extends, renews, or continues credit for personal, family or household purposes; or

  (2) Arranges for the extension, renewal, or continuation of credit.

(f) "Person" includes an individual, corporation, business trust, statutory trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.

---

Md. Code Ann., Com. Law (as displayed at mgaleg.maryland.gov, October 16, 2026)