Section 12-1002 - Authorized extensions of credit. - Maryland Statutes

§ 12-1002. Authorized extensions of credit.
 

(a)  Permitted.- Any credit grantor may, subject to the other provisions of this subtitle, offer and extend closed end credit to a borrower. 

(b)  Interest and other charges authorized; security.- In connection with closed end credit offered and extended under this subtitle, a credit grantor may charge and collect the interest and other charges permitted by this subtitle and may take any security as collateral as may be acceptable to the credit grantor. 
 

[1983, ch. 143; 1993, ch. 404, § 2.]