There is a newer version of the Maryland Code
Maryland Commercial Law Section 12-1002
§ 12-1002.
  (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 collateral as may be acceptable to the credit grantor.
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