Maryland Financial Institutions Section 11-302

      (a)      In this section, "installment loan" means a loan or extension of credit made for consideration under § 12-103(a)(3) or (c), Title 12, Subtitle 9, or Title 12, Subtitle 10 of the Commercial Law Article.

      (b)      Unless the person is licensed by the Commissioner, a person may not:

            (1)      Engage in the business of making installment loans;

            (2)      Make more than 5 installment loans a year; or

            (3)      Engage in the business of a credit services business as defined under Title 14, Subtitle 19 of the Commercial Law Article.