2013 Maryland Code
COMMERCIAL LAW
§ 14-3801 - Definitions.

§14-3801.

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

(b) “Consumer” means an individual who, individually or in conjunction with another individual, is solicited for, applies for, or receives a refund anticipation loan or refund anticipation check.

(c) “Creditor” means a person who makes a refund anticipation loan or who takes an assignment of a refund anticipation loan.

(d) (1) “Facilitator” means a person who, individually or in conjunction or cooperation with another person:

(i) Processes, receives, or accepts an application or agreement for a refund anticipation loan or refund anticipation check;

(ii) Services or collects on a refund anticipation loan or refund anticipation check; or

(iii) Facilitates the making of a refund anticipation loan or refund anticipation check.

(2) “Facilitator” does not include:

(i) A bank, savings and loan association, or credit union;

(ii) An affiliate or subsidiary of a bank, savings and loan association, or credit union that, in connection with refund anticipation loans or refund anticipation checks, acts solely as a servicer for the financial institution with which it is affiliated or of which it is a subsidiary; or

(iii) A person who acts solely as an intermediary and does not deal with the public in the making of a refund anticipation loan or refund anticipation check.

(e) “Refund anticipation check” means a check, stored value card, or other payment mechanism:

(1) That represents the proceeds of a consumer’s tax refund;

(2) That was issued by a depository institution or other person that received a direct deposit of the consumer’s tax refund; and

(3) For which the consumer has paid a fee or other consideration.

(f) (1) “Refund anticipation loan” means a loan arranged to be paid directly or indirectly from the proceeds of a consumer’s tax refund.

(2) “Refund anticipation loan” includes a sale, assignment, or purchase of a consumer’s tax refund at a discount or for a fee, whether or not the consumer is required to repay the buyer or assignee if the Internal Revenue Service denies or reduces the consumer’s tax refund.

(g) (1) “Refund anticipation loan fee” means any charge, fee, or other consideration charged or imposed directly or indirectly for the making of or in connection with a refund anticipation loan.

(2) “Refund anticipation loan fee” includes a charge, fee, or other consideration for a deposit account that is used for receipt of a consumer’s tax refund to repay the amount owed on a refund anticipation loan.