2010 Maryland Code
COMMERCIAL LAW
TITLE 12 - CREDIT REGULATIONS
Subtitle 10 - Credit Grantor Closed End Credit Provisions
Section 12-1002 - Authorized extensions of credit.
§ 12-1002. Authorized extensions of credit.
(a) Permitted.- Any credit grantor may, subject to the other provisions of this subtitle, offer and extend closed end credit to a borrower.
(b) Interest and other charges authorized; security.- 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.
[1983, ch. 143; 1993, ch. 404, § 2.]
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