2010 Maryland Code
COMMERCIAL LAW
TITLE 12 - CREDIT REGULATIONS
Subtitle 9 - Credit Grantor Revolving Credit Provisions
Section 12-906 - Plan authorizing both loans and purchases.
§ 12-906. Plan authorizing both loans and purchases.
(a) Different terms for loan or purchase indebtedness.- If the agreement governing a revolving credit plan permitting the borrower to obtain both loans and purchases so provides, a credit grantor may impose different terms on the indebtedness arising out of purchases than to the indebtedness arising out of loans.
(b) Application of subsection (a).- Subsection (a) of this section applies to all terms, including:
(1) The terms governing the periodic percentage rate used to calculate interest or finance charges;
(2) The method of computing the outstanding unpaid indebtedness to which the periodic percentage rate is applied;
(3) The amounts of other charges; and
(4) The applicable repayment schedule.
[1983, ch. 143.]
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
