Maryland Commercial Law Section 12-801

Article - Commercial Law

§ 12-801.

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

      (b)      "Borrower" means an individual who obtains a loan or advance of money.

      (c)      "Finder's fee" means any compensation or commission directly or indirectly imposed by a broker and paid by or on behalf of the borrower for the broker's services in procuring, arranging, or otherwise assisting a borrower in obtaining a loan or advance of money.

      (d)      "Lender" means a person defined as a mortgage lender under § 11-501(i)(1)(ii) of the Financial Institutions Article.

      (e)      "Mortgage broker" means a person defined as a mortgage lender under § 11-501(i)(1)(i) of the Financial Institutions Article.

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



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