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2021 Maryland Statutes
Commercial Law
Title 12 - Credit Regulations
Subtitle 3 - Consumer Loans -- Credit Provisions
Section 12-310 - Collateral Sale, Purchase, or Agreement in Connection With Loan
Universal Citation: MD. Commercial Law Code Ann. § 12-310 (2021)
(a) For purposes of this subtitle, any profit or advantage which a person contracts for, collects, receives, or obtains by a collateral sale, purchase, or agreement in connection with negotiating, arranging, or making a loan is considered a charge for the loan.
(b) This section does not apply to any commission, dividend, retrospective rating credit, or other consideration received by a licensee or a licensed insurance producer who is an officer, director, agent, employee, or affiliate of a licensee on insurance sold under this subtitle in accordance with the applicable provisions of the Insurance Article.
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