2010 Maryland Code
COMMERCIAL LAW
TITLE 12 - CREDIT REGULATIONS
Subtitle 10 - Credit Grantor Closed End Credit Provisions
Section 12-1013.2 - Delivery of agreement, note, or other evidence of loan.
§ 12-1013.2. Delivery of agreement, note, or other evidence of loan.
(a) Time of delivery.-
(1) Except as provided under paragraph (2) of this subsection, the credit grantor shall deliver a copy of the agreement, note, or other evidence of the loan to the borrower no later than the time of consummation of the loan.
(2) If consummation of the loan does not occur in a face-to-face transaction between the credit grantor and the borrower, the credit grantor may delay delivering a copy of the agreement, note, or other evidence of the loan to the borrower until the due date of the first payment.
(b) Multiple borrowers.- If there is more than one borrower, a copy of the agreement, note, or other evidence of the loan may be delivered to any borrower who is primarily liable on the loan.
(c) Proof of delivery.- Written acknowledgment by a borrower of delivery made in accordance with this section of a copy of the agreement, note, or other evidence of the loan is conclusive proof of the delivery as between the borrower and any assignee of the agreement, note, or other evidence of the loan without actual knowledge to the contrary.
[1993, ch. 404, § 2.]
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